United Kingdom
RL360° targeted in insurance scam
Insurance firm RL360° is the subject of a law suit on the Isle of Man for damages alleging breach of contract and negligence after it paid out a policy belonging to a deceased doctor, who turned out to be alive and the victim of identity theft.
Steel workers fed sausage and chips in pension transfer bid
A company that introduced British Steel Pension Scheme (BSPS) members to the now-collapsed IFA firm Active Wealth offered “sausage and chips” meals in meetings heavily geared towards pushing transfers on them, according to a damning Work and Pensions Committee report released Thursday.
IFA linked to British Steel pension transfers goes under
IFA firm Active Wealth has gone into liquidation, four months after it was suspended from taking on new clients after the UK regulator raised concerns it gave “questionable advice” to British Steel Pension Scheme (BSPS) members.
Alternatives | 14 Feb 18
European watchdog warns of investment fund ‘fire sales’
Mismatches between the liquidity of open-ended investment funds’ assets and their redemption profiles could lead to “fire sales” to meet redemption requests in times of market stress, the European Systemic Risk Board (ESRB) has warned.
Best Practice | 14 Feb 18
Beware deadlines for ombudsman complaints
A former Aviva Life Service UK client has lost his bid to be compensated for poor service, following delays in taking out a tax free lump sum from his pension, because he waited too long to make the complaint.