Tag Archives: FCA

Should regulators be enforcers?

  Tim Thomas asked this question at a TTF seminar  this lunchtime. His conclusion was they considered themselves a world-class regulator and a reluctant enforcer. From comments made by Andrew Bailey (former CEO) and Mark Steward (former head of enforcement) … Continue reading

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How the FCA failed those sold Blackmore Bonds.

Last night’s excellent Panorama on the Blackmore Bond scandal, was pitched precisely to explain how ordinary savers were duped by unscrupulous fraudsters who have outwitted the FCA. What is most worrying is that the FCA were shown to have repeatedly … Continue reading

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If this is (pension) freedom – I’m a banana!

“Why employees need independent advice before deciding what to do with their pension freedoms”- REBA This is the headline from a leader in REBA, the employee benefit magazine. I mention “employee benefits” with a grimace, for many benefits sold to … Continue reading

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The cost of living crisis – and the value of small pots

This IMF chart is (rightly) getting a lot of attention given the UK figures are truly awful. But why are they so bad? Because this is what happens when you add an energy price surge onto a country with our … Continue reading

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The consumer duty – another important step along the road.

There is already an instrument in place that determines value for money – it is called the free market. If a client feels they are not getting value for the product or service they are paying for, they go somewhere … Continue reading

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The pension transfer mess: who pays and what’s paid?

There’s an irony to PAC’s assertions. It was extremely critical of the FCA in almost every aspect but never even questioned a key one: the FCA’s own assessment that transfers were very widely unsuitable at BSPS. This is now being … Continue reading

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Why small pots are jeopardising state benefits

  In this article I explain why it’s often best for people with small pension pots to spend their income before they get to state pension age. The over-prudent who hold back – can risk losing out on pension credit. … Continue reading

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Positions on redress for British Steel workers harden.

The FCA is in an awkward position as it consults on the redress it is looking to pay to British Steel workers who claim they were advised poorly to leave the BSPS scheme. On the one hand they have disgruntled … Continue reading

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ABI sets out how auto-enrolment can work better for insurers.

    Insurers have long benefited from Government pension policy in building up their funds under management. Lobbying from the ABI has led to the establishment of personal pensions which have been used not just as a means of accumulating … Continue reading

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Is “drawdown” a viable pension option for Nest’s pensioners?

In my opinion , the answer to that question is no. It is a “no for the USA, for Australia, for the UK and it is a “no” for five reasons To achieve a sustainable advantage over a guaranteed pension … Continue reading

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