Odey has struggled with redemptions since a report earlier this month claimed allegations of sexual assault and harassment from founder Crispin Odey towards 13 women over a 25-year period
The Financial Conduct Authority (FCA) has taken action to make three additional firms reverse the effects of misleading British Steel Pension Scheme (BSPS) redress offers. The watchdog said that Alpha Financial Services made offers of £100 to 100 per cent of its clients; QED Financial Associates offers of £300 to 93 per cent of its clients; and Harvest Associates offers of either £50 or £200 to 91 per cent of its clients.
A report by a group of European supervisory bodies has found that there is a “clear increase” in the total number of potential cases of greenwashing across all sectors of the financial industry, including for EU banks.
In a statement, the FI said that “none” of the country’s insurers, banks and pension providers “have any large direct exposure of their own to the US banks that have run into problems"
The UK’s financial inclusion gap means that nearly 11 million women don’t have access to mainstream financial products, according to new research by TotallyMoney and PwC.
The Financial Conduct Authority (FCA) has expressed concerns over unsolicited settlements being offered to former members of the British Steel Pension Scheme (BSPS). The watchdog recently published its final rules for a redress scheme which ordered firms to remediate former members of the BSPS who received “unsuitable advice” to transfer out.
The bank will acquire 85 per cent of the workplace pensions and ISAs company for £144 million, with Natwest saying that the deal would allow it to offer a new range of financial products to commercial customers and their staff
Tesco Bank is set to raise by £1,250 the salary for over 3,400 of its staff. Negotiated to help employees throughout the cost-of-living crisis, the salary uplift follows discussions between the (Union of Shop, Distributive and Allied Workers (Usdaw) and the supermarket’s banking arm.
The Financial Conduct Authority (FCA) has set out new standards for pensions operators. The rules, for operators of pension dashboards and providers of non-workplace pensions, will provide consumers with “easier access” to information about their pension savings, the watchdog said.
The Financial Conduct Authority (FCA) has published its final rules for a scheme to remediate former members of the British Steel Pension Scheme (BSPS), who received “unsuitable advice” to transfer out. The FCA anticipates that over 1000 consumers will receive redress from the scheme, stating that firms will have to review the advice they gave and pay redress to those who lost money because of unsuitable advice.
Penfold has launched an Advisor Portal which it says is designed to simplify the process of managing pensions and payroll schemes on behalf of SMEs. The pension provider's new services are aimed at accountants, payroll bureaus and business advisors. It will automate processes which are time consuming such as managing opt-outs and postponement periods, said the company.
Zurich has partnered low-code platform provider Mendix to roll out new solutions as part of its digital transformation strategy.The insurance giant has deployed Mendix technology across the business for two new solutions including a new digital portal called ‘my plans’ which will enable 1.5 million customers to access their pensions and investment information online in one place.
The World Bank’s board of executive directors has approved a $723 million emergency support package for Ukraine. The package includes a $100 million pledge from the UK.
UK workplace savings FinTech Cushon has closed a £35 million fundraising round and announced its third acquisition. This brings the total raised over the past two years to £61 million.