Consultations

Insight / Directors could land jail term for pension mis-management

The government is to introduce a new criminal offence of ‘wilful or reckless behaviour’ in relation to pensions, which would see ‘devil may care’ directors facing up to seven years in jail, under proposals to crack down on abuse of final or average salary schemes

Tax / Hike in probate fees set to go ahead despite opposition

Probate fees are set to be hiked up to £6,000 for the largest estates as the government plans to overhaul the death tax from April 2019, a measure delayed from 2017 due to the early general election

Insight / Occupational pension scheme investments to be widened

The Department for Work and Pensions (DWP) is consulting on proposals to encourage defined contribution (DC) pension schemes to invest more widely, in areas such as start-up companies, housing, and green energy, to boost returns and encourage economic development

Insight / Good Work Plan: what the new workplace laws mean for employers

Workplace practices are set to change when the government introduces new regulations for workers, increasing the compliance burden for employers. Kate Palmer, associate director of advisory at Peninsula, explains the implications and potential pitfalls

Insight / FCA consults on pension rule changes to enhance transparency

The Financial Conduct Authority (FCA) is consulting on measures to stop up to 100,000 consumers a year losing out on pension income when they access the pension freedoms, with proposals which the regulator says could benefit people by up to £25m a year

Insight / FCA consults on cryptoassets guidance

The Financial Conduct Authority (FCA) is consulting on guidance which sets out what regulation different types of cryptoassets may fall under to help businesses and individuals understand whether they need to be authorised and what rules apply

Insight / Consultation on code for private prosecutors

The Private Prosecutors’ Association (PPA) is consulting on a draft code for anyone who carries out private prosecutions, which allow individuals, businesses or organisations who have been the victims of crime to bring a criminal case themselves, without the involvement of law enforcement agencies

Insight / DWP to trial auto enrolled pensions for self-employed

The Department for Work and Pensions (DWP) is seeking input on its plans to develop and test options designed to encourage self-employed people to save for short, medium and long-term financial goals, including a pension

Insight / FCA consults on major overhaul of overdraft market

The Financial Conduct Authority (FCA) is making what it calls ‘the biggest intervention in the overdraft market for a generation’ with proposals which would end banks charging higher prices for unarranged overdrafts, as part of a package of measures stemming from its high-cost credit review

Insight / Government begins CDC pension consultation

The Department for Work and Pensions (DWP) is consulting on proposals for collective defined contribution (CDC) pension schemes, first outlined at Budget 2018, which allow contributions to be pooled and invested to give members a target benefit level

Insight / Charities: reforming the Charity SORP accounting rules - part 5

Nigel Davies, joint chair of the Charities SORP committee, sets out the context of the committee’s goal to both keep the SORP current and further develop charity reporting and accounting to include the concerns of the public

Insight / Treasury consults on debt ‘breathing space’ and repayment plans

The Treasury is consulting on a detailed policy proposal for a ‘breathing space’ and a statutory debt repayment plan, concepts which are intended to give people in problem debt the opportunity to take control of their finances and put them on a sustainable footing

Insight / Financial regulators seek views on planning for climate change impact

The Financial Conduct Authority (FCA) has published a discussion paper on climate change, saying its effects and the associated transition to a low carbon economy may have a major impact on financial markets and on products that serve those markets

Insight / Call for evidence on competition in the digital sector

A panel of experts is to investigate the subject of competition in the digital market, a field which is dominated by a small number of large companies, and make recommendations on future government policy

Insight / FCA consults on ‘no deal’ regulatory plans

The Financial Conduct Authority (FCA) is consulting on proposals for amendments to its standards and financial services passporting rules, plus the regulatory regime for credit ratings agencies and data reporting services providers in the event the UK leaves the EU on 29 March 2019 without an implementation period
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