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Robert Reid: Large firms should not receive special FCA treatment

The news that consolidators are under the microscope is long overdue. The number of times I have been told of an acquisition triggering a mass transfer of assets where ongoing charges increase with no corresponding increase in services is far too common to be apocryphal. Just how this works as suitable advice I have no […]

Ros Altmann
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Govt eyes master-trusts clampdown amid auto-enrol fraud concerns

The Government is eyeing a clampdown on trust-based pension schemes amid concerns lax rules around setting up master-trusts and poor controls on withdrawals are leaving auto-enrolled employees vulnerable to fraudsters. The trust-based auto-enrolment market is dominated by Nest, The People’s Pension and Now: Pensions but estimates put the range of registered master-trusts between 70 and 100. […]

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‘Maximum assistance, minimum interference’: FCA lays bare Financial Ltd risk failings

Former Financial Ltd boss Charlie Palmer built an advice network that treated advisers as the end customer and failed to heed warnings about potential suitability risks, the FCA says. The regulator has today issued a decision notice against Palmer for failing to ensure appointed representatives gave suitable advice to around 40,000 clients. It also wants […]

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Government halves pensioner bond payouts

Returns for “pensioner bonds” issued by the Government are set to plummet by almost half. The bonds were issued by the Government in two tranches from January this year, with the first set to mature next month. However, because the products were a special issue, while savers were offered an interest rate of 2.8 per […]

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