All Regulation articles – Page 62
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News
Could mastertrust consolidation result in stranded schemes?
Strict requirements for mastertrusts to contingency plan for their own demise as part of the sector’s new authorisation regime may have unintended consequences if wound-up schemes become stranded, experts have warned.
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OpinionSchemes must be prepared for an interventionist regulator
Even before the publication of the Department for Work and Pensions’ recent consultation on developing “a stronger Pensions Regulator”, it was becoming increasingly apparent that the regulator means what it says with its new “clearer, quicker, tougher” mantra.
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OpinionSidecars suit self-employed
Editorial: Self-employment is more common than ever, and the distinct lack of any concrete solution to get these people saving for retirement is becoming increasingly worrying.
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News
Smart Pension fined for failure to report missing contributions
On the go: Smart Pension's trustee has been fined by the Pensions Regulator for failing to report unpaid pension contributions to members and the watchdog.
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OpinionThe day that climate became mainstream
From the blog: Climate campaigners across the country spluttered into their morning cups of fair trade coffee last Tuesday as the Department for Work and Pensions and Financial Conduct Authority published their final responses to the Law Commission’s 2017 report on pensions and social investing.
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News
Trustees warned to be vigilant before approving superfund deals
Trustees eyeing a transfer into one of the UK’s nascent superfunds must consider the viability of the acquiring consolidation vehicle before consenting to a ‘buyout-lite’ deal, the Pensions Regulator’s executive director of frontline regulation has warned.
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News
Industry calls for regulatory speed and stronger approach to scams
The pensions industry has voiced concerns over regulatory weaknesses and a lack of urgency when tackling scams and regulating defined benefit to defined contribution transfers.
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News
TPR suspends trustee after fraud investigation launched
On the go: The Pensions Regulator has suspended a pension scheme trustee after detectives launched a fraud investigation.
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News
Government sets out proposals for trustee ESG investment duties
Trustees will be expected to publish a statement on how they take account of scheme members’ ethical views, if proposed requirements floated in a government consultation are implemented.
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News
Regulator sees merit in criminal sanctions for DB sponsors
The Pensions Regulator is prepared to deploy tough new powers promised by the Department for Work and Pensions’ defined benefit white paper, although it admitted that there will be a high bar for beginning any criminal proceedings against sponsoring employers.
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OpinionTime gap to stop fiduciary flipping looks CMA’s best bet
The Competition and Markets Authority has found evidence indicating “that a significant proportion of pension schemes buying fiduciary management have appointed their existing investment consultant to supply these services”. The CMA puts the proportion at 55 per cent.
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OpinionHow to guide your pension fund through M&A activity
While corporate transactions can be unsettling, it is worth bearing in mind that management will most likely be undertaking merger and acquisition activity for good reason – to grow the business, to increase competitive advantage, to diversify, or to simplify.
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News
Guy Opperman outlines hopes to harness fintech
Pensions and financial inclusion minister Guy Opperman says he hopes to harness fintech to boost saving for the self-employed, while aiming to bring in legislation for defined benefit regulation next year.
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OpinionEveryone has a role to play in ESG
There is, as yet, no legal requirement for pension schemes to provide or incorporate environmental, social and governance-led funds into their investments. So who is responsible for responsible investment and what role should different parties play in pushing this up the agenda?
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News
Titcomb to leave the Pensions Regulator
On the go: Chief executive Lesley Titcomb will be leaving the Pensions Regulator at the end of her four-year contract in February 2019.
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OpinionCMA investigation: Prepare for positive change
The Competition and Markets Authority’s investigation into the UK’s investment consultants and fiduciary managers, launched last autumn, has the potential to drive seismic change.
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OpinionBlowing the whistle on the secret pension offenders
They hide in plain sight, looking respectable to the outside world but denying their workers their legal rights.
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News
Select committees question regulator’s ambition on DB
On the go: The Pensions Regulator’s commitment to engaging proactively with poorly funded defined benefit schemes and their employers has been called into question by two parliamentary select committees, in a stinging letter that discusses the future of chief executive Lesley Titcomb.
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OpinionStranded in a failed mastertrust
From the blog: A by-product of the introduction of auto-enrolment has been the establishment of nearly 90 mastertrusts, many set up with a commercial objective. A few of the larger schemes have started to move to profit, but with a 0.75 per cent charge cap most still rely on their sponsors to make good shortfalls in expenses.
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NewsBox Clever judgment sees scheme inch closer to ITV funding
The Pensions Regulator was right to seek to impose a financial support direction on ITV in relation to the Box Clever defined benefit pension scheme, according to a court judgment published on Friday.