It says some firms are not including all fees and charges in their DB pension advice redress calculations including ongoing fund costs and/or fully allowing for ongoing adviser charges in redress calculations. It says it will use its full powers to stop such behaviour.
Harriet Baldwin, a former Treasury minister, has been elected chair of the Treasury Select Committee.
She replaces Mel Stride, who stepped down to become Secretary of State for Work and Pensions.
Scottish Mortgage Investment Trust has cut its China exposure in Tencent and Alibaba, perhaps unsurprisingly given China’s continued gloomy outlook.
The country is, of course, braced for potentially more bad news on the 17th November when the Chancellor Jeremy Hunt could announce further cuts or tax rises.
There is talk of a threshold and reliefs freeze beyond 2025/2026 as the FT reports, which, of course means fiscal drag will be doing considerable damage. The Telegraph unsurprisingly has attacked the idea.
Corporate Adviser reports that the number of working-age adults who are not actively seeking employment (also referred to as “economically inactive”) due to a long-term illness has increased since 2019, rising from about 2.0 million in the spring of 2019 to about 2.5 million in the summer of 2022, according to the ONS.
Citywire looks at the prospects for Brazilian stocks under President Lula.
Andrew Gethin looks at the consumer duty and protection advice and discusses how advisers can use the duty to the advantage of the their businesses.