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Displaying items by tag: FCA

A final report on the 'failing' market for retirement income is being drawn up by FCA officials.
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Plans to introduce additional protection to pension holders ahead of the reforms kicking in in April have been outlined today by the FCA in a letter to chief executives of providers.
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A senior figure at a Sipp provider fears that a failure to clarify the new capital adequacy rules could lead to worried firms going too far in an attempt to meet requirements and therefore end up increasing costs for clients.
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A leading pensions body has insisted its members still believe the new capital adequacy rules for Sipp firms are "flawed" despite failing with its attempt to bring a Judicial Review.
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Wednesday, 14 January 2015 17:38

Bid for Sipp capital framework Judicial Review fails

The Association of Member-Directed Pension Schemes has failed with its attempt to bringĀ a Judicial Review concerning the new capital adequacy rules, it has just been revealed.
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A decision on whether a Judicial Review concerning the new capital adequacy rules will be allowed to go ahead should be known in the next few weeks.
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Thursday, 11 December 2014 11:45

FCA report: Retirement market failing customers

The market for retirement income is failing, with many consumers missing out on a higher income by not shopping around, the FCA has concluded.
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The FCA will strengthen its proposals on the pensions guidance service to protect consumers in light of industry concerns and following fears raised in Parliament over another mis-selling scandal.

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The sweeping reforms to pensions introduced in the Budget have increased the need for regulators to protect consumers, the chairman of the FCA has said.

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The Financial Conduct Authority has issued a warning about individuals being encouraged to transfer assets from their work pension schemes into Sipps as part of a deal to buy one company's shares.

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