Regulation

The Association of British Insurers (ABI) is to enhance its guidance on unit-linked funds after a Financial Conduct Authority (FCA) probe uncovered "specific" failures in some insurers' governance of the investments.

The Financial Conduct Authority (FCA) has set out its final guidance for self-invested personal pension (SIPP) providers, reminding them about areas such as financial crime.

DEAR MR...

HM Revenue & Customs (HMRC) is to work more closely with The Pensions Regulator (TPR) to scrutinise small pension schemes for potential fraud.

The ‘poor value' legacy pension schemes highlighted by the Office of Fair Trading (OFT) account for just 10% of the market but the industry audit will "sort any problems", the Association of British Insurers (ABI) has said.

ANNUITIES

It is "unrealistic, uneconomic and unnecessary" to expect those approaching retirement to take regulated financial advice, according to Hargreaves Lansdown.

Pensions minister Steve Webb has promised to set up an "annuities task force" and conduct a wholesale review of pensions decumulation.

Consumer attitudes towards financial services businesses have changed irreversibly, the chief executive of the Financial Ombudsman Service (FOS) has said.

The government may extend its ban on consultancy charging in auto-enrolment (AE) schemes to vehicles set up before it announced the practice would be outlawed.