All Financial Conduct Authority (FCA) articles – Page 20
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OpinionWill the FCA market study revolutionise pensions?
The Financial Conduct Authority’s asset management market study is finally with us, but despite the dramatic headlines, the final report turned out not to be the ‘game changer’ that some hoped for and others feared.
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Opinion
Could improved understanding revive the annuity?
Analysis: Many savers have been reluctant to purchase an annuity following the government’s introduction of freedom and choice in 2015, but should they be nudged to reconsider their options?
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OpinionAn industry under pressure
It had to happen at some point: the Financial Conduct Authority has set its sights on the investment consulting market.
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NewsWatchdog referral looms for investment consulting industry
Industry-led proposals to minimise conflicts of interest in investment consulting have been rejected by the Financial Conduct Authority, bringing firms a step closer to investigation by the Competition and Markets Authority.
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NewsNo all-in fee for asset management firms
Asset management firms must disclose estimated and actual fees and transaction costs to clients, but should not be forced to charge a single fee for services, the Financial Conduct Authority has recommended.
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OpinionPension transfers – ensuring advice is fit for purpose
Last week, we proposed changes to our rules and guidance that apply when advising on pension transfers. Transfers from defined benefit schemes to defined contribution schemes continue to be a hot topic with extensive media coverage in recent months. There have also been a number of developments in this market.
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NewsFCA transfer proposals welcomed but timeline draws criticism
The Financial Conduct Authority’s new proposals on pension transfers have been widely welcomed across the industry, but concerns around the 2018 implementation of the final rules remain.
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News
FCA cracks down on transfer advice
Pension consultants have welcomed the Financial Conduct Authority’s adoption of a tough stance on companies advising on defined benefit transfers, calling it a “price worth paying” for member security in retirement.
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NewsFCA final rule changes unlikely to help, experts say
The Financial Conduct Authority has published its final rules on requiring firms to provide an information prompt to consumers to improve shopping around in the annuity market, setting out a number of changes including an enhanced annuity warning.
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OpinionActive management fees – how low can they go?
Here’s a challenge that came across my desk the other day. Are low charges incompatible with active management in pension schemes? I can hear the two words most beloved by consultants – it depends – ringing in my ears, but in truth it depends on two things: first, what is meant by low in the context of charges, and second, just how active is active?
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News
First asset managers commit to LGPS transparency code
The Local Government Pension Scheme advisory board has launched its code of transparency to improve cost disclosure, amid early indications that asset managers will sign up.
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Advice suitable but disclosure too complex, finds FCA
The Financial Conduct Authority has published the findings from its review into the suitability of pensions and investment advice, but while the results are reassuring, experts say more needs to be done to make advice less convoluted.
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FeaturesS&N dives into infra and absolute return funds
The Scottish & Newcastle Pension Plan has agreed to introduce a new allocation to infrastructure debt while increasing its absolute return exposure, as schemes seek steady returns and diversification.
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Opinion
Should trustees review their advisers more often?
Analysis: There are myriad tasks involved in running a pension scheme, so time is precious and efficiency is key. But when it comes to evaluating advice, how can trustees measure performance, and should they be reviewing their consultants more frequently?
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OpinionFCA regulation of pensions: What does the year ahead have in store?
We have just published our Mission and Business Plan for 2017-18. Our mission provides the framework for the strategic decisions we make, the reasoning behind our work and the way we choose the tools to do it.
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NewsExperts call for mandatory guidance as FCA targets advice take-up
The Financial Conduct Authority will prioritise retirement income provision within pensions in 2017-18, addressing perceived problems with consumers who do not take regulated financial advice, as some argue schemes should organise Pension Wise sessions by default.
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Opinion
Mastertrusts have the next milestone in sight
Mastertrusts are on their way to becoming a dominant force in the UK pensions system, having woven themselves into the fabric of workplace defined contribution provision.
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News
FAMR makes headway but experts say further progress is needed
The Financial Conduct Authority has published a progress report on its Financial Advice Market Review, alongside a consultation that sets out proposed guidance, but reactions in the pensions industry show there is still a long way to go.
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OpinionThe risks of poor data governance
From the blog: Just when personal pension scheme administrators thought they understood and could confidently respond to the Financial Conduct Authority’s reporting requirements on members’ use of pension freedoms, the goalposts have been moved again.
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News
IA consults on cost disclosure code amid data overload concerns
The Investment Association is calling for views on a proposed industry code on disclosure of charges and transaction costs, as some have stressed the importance of making such data easy to interpret.