Pension
Tax & Regulation | 18 Aug 17
Ex-IFA jailed for stealing £1m from client pension funds
A former UK adviser has been jailed for six years and banned from being a company director for eight after he was convicted of stealing £1m ($1.29m, €1.1m) of clients’ money via a self-invested personal pension scheme he invented.
Lloyds Bank may expand into pensions and wealth management
UK high street bank Lloyds, which owns Scottish Widows, may be about to announce a major push into pension and investment products as part of a three-year growth plan.
Tax & Regulation | 14 Aug 17
More UK pension trustees to be hit with higher penalties
The Pensions Regulator is stepping up how it uses its enforcement powers, which includes financial penalties, and expanding who it considers to be a professional trustee.
Pakistan’s private pension funds assets up 32%
Pakistan’s private pension fund industry grew over 32% in the fiscal year ending in June 2017, with total assets under management rising to PKR25bn (£180.8m, $234.4m, €199.6m), data released by the Securities and Exchange Commission of Pakistan (SECP) shows.
Tax & Regulation | 17 Jul 17
FCA reveals 8 firms rapped for pension transfers last year
The Financial Conduct Authority has confirmed that it took action to stop eight UK firms, including deVere and Holborn, conducting and/or arranging overseas pension transfers in the last financial year but has declined to name them all.