United Kingdom
Unlimited fines and jail for reckless DB scheme providers
Powers that would allow the UK’s pensions regulator to give unlimited fines and criminally prosecute reckless behaviour in relation to defined benefit (DB) pension schemes are being considered in a government consultation paper.
Law firm targets IFA and Sipp providers in £7.3m suit
A UK law firm is representing more than 100 clients in a multi-million-pound lawsuit against an introducer, a financial adviser and two Sipp providers over the miss-selling of a pension investment scheme.
Quilter IPO takes off
Quilter employees were among the main beneficiaries when the insurer floated on the London and Johannesburg stock exchanges on Monday following its demerger from Old Mutual.
International savings plans key to Jersey’s flexible future
UK legislative changes have caused a fundamental shift in the types of pension products that can be offered by international finance centres, with the Jersey Pensions Association (JPA) promoting international savings plans as a solution.
Woodford cancer treatment holding jumps 51%
Neil Woodford saw his stake in an unquoted cancer treatment company jump $35.4m (£26.6m, €30.3m) in his investment trust on Friday as it announced pricing on its initial public offering.