Market Moves
UK to Launch First Green Bond in 2021
Issuance intended to help country meet target of reaching carbon net zero by 2050.
Tag: Financial Conduct Authority
Regulation
UK Regulators Fine Goldman Sachs International $126 Million for 1MDB ‘Failures’
The Financial Conduct Authority and the Prudential Regulation Authority said the firm allowed severe misconduct to go unaddressed.
Regulation
Old British Steel Pension Secures $2.6 Billion Buy-in; Buyout Expected in 2021
UK pension lifeboat PPF said the plan is better funded than expected.
Risk
Nearly £31 Million Lost to UK Pension Fraud in Three Years
Regulators say amount is likely even higher as many scams are unreported or unnoticed for years.
Alternatives
FCA Authorizes Archax as First Digital Securities Exchange in UK
The firm already has 35 digital issuances in place.
Risk
High Court Orders Firms to Pay £10.7 Million for Inducing Pension Transfers
Three directors found guilty of making false or misleading statements.
Regulation
UK Regulator Targets Defined Benefit Transfer Weaknesses
FCA bans contingent charging, finds British Steel pensioners received worse advice than most.
Risk
UK Insurance Sector Warns Rate of Pension Withdrawal Unsustainable
Association of British Insurers says future retirees risk running out of money.
Risk
Highly Educated More at Risk of Pension Scam
The more schooling you have, the more likely you are to fall for a con artist.
FCA Says No Deal Brexit Impact ‘Less Severe’
Regulator credits ongoing preparations for mitigating Brexit risks to UK businesses.
Millions at Risk of Falling for Pension Scams
UK Regulators warn public to be wary of tactics used to pilfer their savings.
UK’s FCA Proposes Ban on Contingent Pension Transfer Fees
Regulator says lucrative transfer incentives create conflict of interest for advisers.
FCA Fines Standard Life Nearly £31 Million over Annuities Sales
UK regulator says incentives to sell annuities led to conflict of interest.
FCA Says Too Many Advisers Giving Bad Pension Advice
More than twice as many members were counseled to transfer out of their DB plans than told to stay put.
FCA Bans, Fines Directors over £1 Million for Bad Pension Advice
Regulator said ‘reckless behavior’ led over 2,000 customers to invest $98.5 million in risky assets.