Flexibility for trustees

Pension trustees will gain more flexibility in their ability to dismiss investment managers, following the introduction of legislation based on the Myners Report issued earlier this year. Over the next year, the Treasury will move to introduce legislation to enforce the recommendations of the Myners Report, although it has made some amendments from the original proposals, including suggestions on the higher standard of care for trustees. The Government intends that trustees will be required to ask detailed questions about the commission arrangements and the broker selection process. ...