The FCA needs to urgently clarify when new advice requirements on pension transfers will be applied, organisations across the pensions industry are warning. In its response to the regulator’s consultation on changes to pension transfer rules, the National Association of Pension Funds says conflicting definitions of money purchase benefits risk confusing when advice needs to […]
Former Deutsche Bank trader Christian Bitter has filed a court case against the FCA after it fined the bank £227m. In April Deutsche Bank was fined a total of £1.7bn by international regulators for manipulating Libor and Euribor. According to Bloomberg, Bitter claims the FCA improperly identified him in a report accompanying the Deutsche Bank […]
Neptune Investment Management has appointed its chief economist and investment director James Dowey as chief investment officer. He will retain his role as chief economist and report to the company’s founder and chief executive Robin Geffen. Despite Dowey’s promotion, Geffen will continue to take “overall responsibility” for the investment team as well as manage the funds he […]
According to a business associate of mine (and someone considering his own retirement options) “the sands have shifted since the pensions freedoms were announced”. Now they are here, he believes most rational people will work out the cash option is not that attractive considering the tax implications and the problem of where to reinvest it. […]
Fiona Tait takes a closer look at the Department for Work & Pensions’ forthcoming review of automatic enrolment In December, pensions minister Richard Harrington announced the scope of the DWP’s forthcoming review of automatic enrolment (AE). The review will look at AE coverage, as well as the current thresholds and age criteria. In other words: […]
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