Tag Archives: FCA

Why is the FCA demanding detailed asset allocation reporting from GPPs?

Posted on August 9, 2024 by henry tapper

Occupying 5 pages of a 120 page consultation, chapter 5 of the FCA’s VFM report is odd. Though the FCA will require disclosures from contract based providers – on how defaults are invested, these disclosures will not form part of … Continue reading →

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Widows’ provocative report on our retirement needs

Posted on June 25, 2024 by henry tapper

Pension Age (and others) report that its research found a disconnect between what people want from their retirement income and what products they are actually choosing. In particular, the survey found that while 80 per cent of people wanted a … Continue reading →

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Should the FCA alert the public to advisors they suspect of fraud?

Posted on May 12, 2024 by henry tapper

Henry Tapper’s response to FCA’s CP24/2. I have been recently authorised by the FCA as a SMF1 and 3, have run my own firm and been authorised by the FSA and numerous predecessors since A Day in 1987. I have … Continue reading →

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Dashboards – just do them!

Posted on May 10, 2024 by henry tapper

Due to my being a “devil” on a conference on innovation , I wasn’t able to attend the pension dashboard forum on May 1st and I’m grateful that they have shared the slides of the day with me as if … Continue reading →

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FCA rule change causes dashboard data scare!

Posted on May 1, 2024 by henry tapper

This is why the FCA’s COBS rulebook is so long This is a blog about rules and how you cannot regulate for everything. It’s about writing rules against imaginary risks rather than working on the basis of trust. It’s about … Continue reading →

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FCA offers steelworkers £150 compensation for their loss of redress

Posted on April 23, 2024 by henry tapper

It has been six years and four months since Frank Field wrote this letter to Megan Butler at the FCA. Following evidence on the British Steel Pension Scheme (BSPS) in Parliament in November , the Work and Pensions Committee wrote … Continue reading →

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Three lessons from the FCA’s retirement income market data

Posted on April 17, 2024 by henry tapper

My analysis of this data leads me to three behavioural insights People are concerned about “net cash” – not “gross before tax” People want control and ownership People prioritise today’s cashflow needs over a wage for life The data published … Continue reading →

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The high price we are paying for pension fraud

Posted on March 22, 2024 by henry tapper

This blog is about a discussion in parliament about cleaning up a legacy of pension scams and a discussion in the popular press about how legislation designed to stop those scams is leading to popular discontent. This morning, we continue … Continue reading →

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IFAs are right to be worried

Posted on February 22, 2024 by henry tapper

The FCA has written to the top 20 “national” firms with a questionnaire that probes what percentage of their clients are actually getting an annual review (and how many of them are paying for a service they aren’t using). Membership … Continue reading →

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Is TPR really not fit for (consumer) duty?

Posted on December 13, 2023 by henry tapper

  It’s a question that’s been asked at several Pension PlayPen sessions and now I see an adviser calling for TPR to be wound up as not fit for duty Adviser argues for TPR/FCA merger after Consumer Duty ‘failure’ Karen … Continue reading →

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