Webb: FSA planning joint reviews with TPR

In an evidence session with the work and pensions committee, pensions minister Steve Webb responded to fears about the complexity of the dual regulatory bodies. Labour MP Glenda Jackson asked if the government would consider a single regulator for the whole pensions industry, ending the divide whereby TPR regulates trust-based pensions and the FSA regulates contract-based vehicles. Webb admitted the relationship between the two regulators and between the DWP and the FSA has not been operating as best it can. "The DWP should have more conversations with the FSA than it does," he sai...