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Providers agree 11 day re-reg timescale

The Tax Incentivised Savings Association has issued an industry-wide service level agreement for the re-registration of assets between platforms which states the process should take no more than 11 days.

Tisa says it is encouraging firms to base their pilot procedures on the standards in the agreement.

Tisa’s platform re-registration project built on work by the UK Market Practice Group and aims to streamline and fully automate the transferal of assets from one platform provider to another.

Tisa director of policy Malcolm Small says: “The publication of the SLA follows much hard work by the UKMPG and the Tisa SLA Workstream. Our thanks are due to members of both for their commitment in producing this document, which sets challenging, but achievable, timescales for re-registration to occur, based on real, hard, technical experience. Market participants are now encouraged to start piloting their re-registration procedures based on the SLA.

“Our next prime area of focus is on production of agreed legal indemnities so that market participants can re-register assets safely, knowing that they are operating with counter-parties of good standing. We will also be seeking to act as an information exchange, where lessons from the pilot exercises can be posted. This will save others from repeating mistakes and will save the industry time.”


Pensions Regulator to issue master trust warning

The Pensions Regulator will today unveil a discussion document outlining the potential pitfalls of ‘master trust’ pension arrangements, the Financial Times reports. The paper will address concerns about the impact a lack of direct employer or member involvement can have on effective governance of such schemes. This follows a warning from pensions minister Steve Webb […]

Richard Buxton

Schroders’ Buxton says being positive can pay off

Schroders UK equity fund manager Richard Buxton has rejected criticism that fund managers always issue positive outlooks, saying sometimes the market consensus is actually right. Buxton, who has predicted the FTSE 100 will rise by 25 per cent in 2011 in several statements in recent weeks, was speaking at last week’s Joint Investment Forum hosted […]

Aldermore adds four new managers to commercial mortgages team

Aldermore has appointed four new managers to its commercial mortgages lending team. Stephen Taylor and Darren Beard join the bank as commercial mortgage managers and Simon Prince and Darren Switzer join as lending managers. Prince will focus on London and the south east and Switzer will focus on the north west. Managing director of commercial […]

Pension savings-2015

Pension tax relief: parked (for the moment)

The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]


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