Pensions - Articles - Aegon on Governments response to CMAs recommendations

Steven Cameron, Aegon Pensions Director, on the Government’s response to CMA’s recommendations around investment consultancy and fiduciary management services:

 “We are pleased the Government and the Pensions Regulator have largely accepted the recommendations from the CMA around investment consultancy and fiduciary management.

 “This will help ensure trustees have what they need to make best use of these services for the benefits of scheme members. However, citing competing priorities, the Government has deferred a decision on if it will take forward the CMA’s recommendation to extend the FCA’s regulatory perimeter to cover activities of investment consultancies. This adds to the existing the list of deferred Government initiatives, or ‘casualties of Brexit’.

 “The pensions related activities of such firms can overlap or be adjacent to those of other regulated firms so we believe it makes sense to bring them within the scope of both the FCA and the Pensions Regulator. Doing so would lead to greater consistency across the workplace pensions market in areas such as disclosure of charges and performance. It would also allow the FCA to extend existing rules to address concerns over conflicts of interest where the same firm offers a range of different services.”

Back to Index

Similar News to this Story

XPS launch Competitive Tendering support for Trustees
In June 2019 the Competitions and Markets Authority (CMA) published its Order which implements the remedies that were set out in the CMA’s final repor
One in five DB pensions are in TPRs weakest category
TPR’s latest Funding Statement was its clearest statement to date on the regulatory expectations it has for DB pension schemes. TPR’s research has gra
Rising theft puts households and insurers on alert
Households and their insurers need to be on alert for rising levels of theft, according to the digital home insurer Policy Expert, whose analysis of c

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.