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Workplace pensions must follow 5% euro rule

Standard Life has warned occupational pension scheme trustees to make sure their plans do not have more than 5 per cent invested in their sponsoring employer.

European regulations res-trict pension scheme investmnent in a sponsoring employer, including collective investments, to a maximum of 5 per cent.

An exception has allowed life companies to have up to 10 per cent invested on a transitional basis but this expires this week on September 23.

Standard Life head of policy John Lawson has urged trustees to check their investments to ensure that they do not breach the newly adjusted rules.

He says: “Trustees will have to look through any occupational scheme’s investments so as to make sure they are not exceeding the 5 per cent rule.

“People were worried that the directive might mean Oeics and unit trusts had to be sold off but these fears were exaggerated.”



FSA suspended A2O for not acting on a range of failings

The FSA suspended Alpha 2 Omega from all regulated activities after the network repeatedly failed to correct a catalogue of compliance and training failings identified by the regulator. The FSA recently published a second supervisory notice detailing why it suspended the network on January 21, 2010. The network went into administration on January 26 and […]

CPMA will ‘play second fiddle’ to PRA

Regulatory consultant Bovill says the Consumer Protection and Markets Authority may struggle to recruit skilled staff because the Prudential Regulation Authority will be seen as the predominant regulator. In June, the Government set out plans to scrap the FSA and give responsibility for prudential regulation to the PRA and conduct of business regulation to the […]

EU fund prospectus template falls short, says IMA

The Investment Management Association is calling on the European Union to improve its key investor information document template, which will replace simplified Ucits fund prospectuses next year. The IMA says it supports the idea of an EU-wide template but adds authorities should change the documents’ risk ratings, performance history on merged funds and “small-print format”. […]


Technical failures delay ifs exams

Advisers due to sit an ifs School of Finance exam yesterday or today have been forced to reschedule following technical failures at the test centres. The ifs says it uses Pearson Vue test centres to deliver its exams electronically, but technical glitches have prevented advisers from sitting their exams. On affected adviser, who does not […]

William Littlewood “betting that QE won’t work”

Journalist Alexis Xydias interviews Artemis manager William Littlewood about his views on bond, equity and currency markets and the impact of a Greek exit from the EU. With bond yields at “ludicrous” levels, William believes a tipping point for bond markets is sure to come. As a result, his Strategic Assets Fund holds government bond shorts to the tune of 100 per […]


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