The Financial Services Authority (FSA) and its successor bodies may not be able to prioritise pensions standards if regulation were moved to a single body, a top regulator has said.
Speaking to the Occupational Pensions Defence Union, chairman of The Pensions Regulator Michael O'Higgins responded to the suggestion that responsibility for trust and contract-based scheme enforcement should be consolidated within the FSA and its successor, the Financial Conduct Authority. O’Higgins said the FSA “has much bigger things on its agenda”. “Getting pensions the priority it needs in a non-specifically dedicated organisation might not work,” he explained. O’Higgins argued shifting responsibilities between the bodies would be “moving deckchairs”, distracting the organisation...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
