Government minister slams top insurer

Article Abstract:

Prudential has been criticised for pensions mis-selling and will not be fined for delays in tackling the problem. Prudential is regulated by the United Kingdom Securities and Investments Board (Sib) which does not have the power to impose fines when its rules are broken. Other insurers have been fined. The company was criticised by the Treasury economic secretary, Helen Liddell, who argues that this case illustrates the need for financial services regulation.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds

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Watchdog slams Pru's stance on compliance

Article Abstract:

Prudential has been criticised by the United Kingdom Financial Services Authority (FSA) for breaching compliance rules and giving the wrong advice to customers. Managers and advisers have been criticised for their attitudes toward regulation. Prudential has previously been criticised over personal pensions mis-selling. New rules will be introduced in the United Kingdom in 1998 allowing regulators to discipline specific directors of firms that they regulate.

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Drawbacks to drawdown options

Article Abstract:

Equitable Life has changed some of the company's rules in relation to pension drawdown plans. The implications of the changes, and how they affect retirement planning are explained.

Analysis, Portfolio management, American General Life and Accident Insurance Co.

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