As reported in today’s Financial Times (2 December 2017) an advice scandal is brewing around the Tata Steel pension fund. Some advice firms have capitalised on pensioners’ ignorance by advising transfer into high risk funds with transparently unsuitable investment profiles, undeclared fees and undeclared conflicts of interest.
UKSA is keen to build a good relationship with the Financial Reporting Council (FRC) and contribute fully to the work that it does. We believe that this is best done by developing a relationship which is based on objectivity and constructive feedback - in both directions. Sometimes that feedback is critical.
"Lifting the lid" on the FRC - UKSA members will be attending a private meeting with the FRC on Tuesday 21st November 2017
Who audits the auditors? The Financial Reporting Council is the organisation responsible for overseeing the quality of audit work carried out by auditor. As such it plays a crucial role in helping to protect your wealth. This is a unique opportunity for members only for a direct dialogue with the FRC. The FRC, for their part, are keen to hear the views of serious individual investors.
Dennis Grainger and Action Group colleagues have been heavily engaged in media interviews to coincide with the 10th anniversary of the ‘run', culminating in the hand delivery of a letter to the Prime Minister in Downing Street.
UKSA calls for independent thinkers to join us to change for the better the savings investment chain.
I wanted to give you a brief update as to how the campaign for compensation is going (yes, it still is going!).
A shareholder has won a battle to avoid an attempted charge of £25,000 by Capita Registrars to indemnify against the consequences of a lost share certificate.
John Hunter, our Chairman, is enormously appreciative of the result of the informal donations appeal
John reports that the informal donations appeal has so far yielded over £1,500. Our thanks to you all. Substantial individual donations are welcome, of course, but equal leverage comes from small amounts spread among large numbers of members. Donations can still be made by credit card or PayPal by clicking on this link.
A paper by David Pitt-Watson and sponsored by Pension Insurance Corporation,‘The Purpose of Finance’, shines a spotlight on an industry where ‘……many of its activities fail to achieve the purpose that they could and should be pursuing.’