United Kingdom
United Kingdom | 23 Mar 15
UK govt kicks off annuity sale market
The UK governments last budget before the election revealed plans to extend its pension reforms to allow existing annuity holders to sell their contracts from 2006, offered a range of new incentives to save and tightened rules on tax avoidance.
United Kingdom | 23 Mar 15
Govt report set to criticise
The UK’s financial watchdog will face “serious criticism” this week over its announcement of an inquiry which caused stocks to plummet across the insurance market, reports suggest.
United Kingdom | 20 Mar 15
FCA bans two former TMI directors
Two former directors of failed financial advisory firm TailorMade Independent, which advised clients on self-invested personal pension transfers into troubled overseas property company Harlequin, have been banned by the Financial Conduct Authority.
Phoenix prevents 8m theft pension liberation
Jersey-headquartered life insurer, Phoenix Group, said potential fraudsters attempted to steal £8m of clients’ pension savings last year.
United Kingdom | 19 Mar 15
FSCS lays down £20m levy
A surge in complaints about bad SIPP advice has led the Financial Services Compensation Scheme to lay down a £20m interim levy on life and pensions intermediaries.