Category Archives: Financial Conduct Authority
The FCA can’t blame the DB transfer debacle on pension freedoms.
Nikhil Rathi, the FCA’s CEO elect is only partly right in linking the upswing in transfers away for DB schemes to the precipitous introduction of pension freedoms. It is very important that the FCA properly understand the cocktail of … Continue reading
Posted in FCA, Financial Conduct Authority, pensions
Tagged DB, DB transfers, FCA, Nikhil Rathi, Port Talbot, The FCA cannot walk away from responsibility for what has happened. A new CEO should not be allowed to blame the Treasury. What happened, was happening even before 2015 and has continued ever since.
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Will COVID promote ESG or destroy it?
This time last year I was talking with BNY Mellon about using AgeWage as an ESG platform to help investors vote their shares. It’s not we decided to do (though there is one Fintech that’s taken up the challenge). The … Continue reading
Posted in ESG, Financial Conduct Authority, pensions
Tagged BNY Mellon, ESG, Lottie Meggitt, Shared value, sustainability
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Is Fidelity’s IGC papering over the cracks?
Kim Nash and Anna Bradley are the only female IGC Chairs. Kim’s not only IGC chair at Fidelity, she’s chair of the master trust. She’s not only chair of the Fidelity master trust , but chair of the Scottish Widows … Continue reading
Posted in Financial Conduct Authority, IGC, pensions
Tagged FCA, Fidelity, IGC, Kim Nash, Pensions, workplace Pensions
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Shouldn’t pensions “stay at home”?
Should we stop transfers for the next 6 months? Yields are down, markets are down, has there ever been such a time to transfer your pension rights? That’s what many people may be thinking and if you were a … Continue reading
Posted in advice gap, age wage, FCA, Financial Conduct Authority, pensions, Pensions Regulator
Tagged CETV, FCA, Pensions, Ros Altmann, TPR, transfer-value
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“Asleep at the wheel” The Millers catalogue our regulatory woes.
Campaigner Gina Miller is asking for an Independent Review of the Appointment of the Next Governor of the Bank of England and the FCA in the Face of a Catalogue of Regulatory Failures Leading to Catastrophic Consumer Detriment The True … Continue reading
Posted in FCA, Financial Conduct Authority, pensions
Tagged Alan Miller, BOE, FCA, Gina Miller, HBOS, Lloyds Banking Group, pensions, regualtion
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DC Governance turned upside down
Everyone acknowledges that defined contribution pensions turns the risk register on its head. Instead of sponsors taking the risk of poor performance, poor information and poor governance, these risks are now taken by savers. So why doesn’t scheme governance reflect … Continue reading
Why CETVs at BSPS have changed so much.
This letter explains why a former BSPS member claimed on BBC News last night that he had lost hundreds of thousands of pounds by timing his transfer request wrong; or- as he claimed – because he was badly advised over timing. The letter ends and … Continue reading
Posted in BSPS, Financial Conduct Authority, pensions
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Commission – the charge that dare not speak its name.
I feel like someone walking to a destination with a blindfold on, I am getting information from my phone but it is intermittent and there are many obstacles that I stumble over as I walk along. Thankfully, there are people … Continue reading
Posted in BSPS, dc pensions, Financial Conduct Authority, pensions
Tagged BBC, Commission, FCA, IFA, pensions, Transparency
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Three cheers for the FCA Asset Management Market Study
I got to read MS15/2.3 last night. It was a good read. It’s long and detailed but it’s key findings and remedies are short enough to be listed here. There are the remedies that need a little more consultation;- that … Continue reading
Posted in FCA, Financial Conduct Authority, First Actuarial, pensions
Tagged DWP, FCA, MS15/2.3, Treasury
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Can IFAs create their own profession?
James Walker has published BWD’s assessment of the prospects for firms offering financial advice as their core product. He paints a picture of rising regulatory costs and sluggish growth prospects preventing IFA practices from employing the young blood to refresh it. Last … Continue reading
Posted in advice gap, FCA, Financial Conduct Authority, First Actuarial, Personality
Tagged advice, Business, career, DWP, Employment, financial advice, financial planning, IFA, Jim Thomson, pension, Pension new, pension playpen, profession, regulatory costs, Thomson Grey Wealth Management, trust
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