Updates below: • PS19/24: Illiquid assets and open-ended funds and feedback to Consultation Paper CP18/27 – published 30/09/19 This Policy Statement summarises the feedback received to the FCA consultation on illiquid assets and open-ended funds. It sets out final rules relating to disclosure, liquidity management and suspension of dealing, as originally proposed in CP18/27. https://www.fca.org.uk/publications/policy-statements/ps19-24-illiquid-assets-and-open-ended-funds-and-feedback-consultation-paper-cp18-27 […]
Unfortunately HMRC have had to cancel the industry meeting that should have been held in London tomorrow. A new date has not yet been set, but we will let you know when it has been arranged. In the meantime if firms have any agenda items that they would like to be put forward, please let […]
At the Technical and Compliance seminar, AMPS confirmed it intended to issue copies to the membership of the intervention application and evidence statement that had been prepared in anticipation of the Berkeley Burke Appeal taking place. These and other supporting documents can now be found in the AMPS library. These are: – AMPS intervention application […]
Minutes of the Association’s 14th Annual General Meeting, as held on 8th October 2019, are available below. In accordance with the Association’s Constitution, the minutes will be taken as a true record of the business transacted at the AGM, unless the Honorary Secretary receives written notification of any amendments within one month of the date […]
The AMPS AGM will take place at lunchtime on Tuesday 8th October, followed by the first meeting of the new committee on Wednesday 9th October 2019. Do you have any questions for the AMPS committee to be discussed either at the AGM or committee meeting? Please email these in advance to Claire May – firstname.lastname@example.org […]
The audited accounts for 5 April 2019 are attached.
The Annual General Meeting for 2019 is to be held at 12:15pm on Tuesday 8th October 2019 at 1 Wimpole Street, London W1G 0AE. Places for the Compliance and Technical Seminar, to be held on the same day as the AGM, are still available; a link to the registration site is given below: https://www.regonline.co.uk/builder/site/Default.aspx?EventID=2544584 There […]
• CP19/27 Quarterly consultation No 25 – published 6/9/19 The consultation provides an update to the Retirement Outcomes policy statement and confirms the wake up pack won’t apply when ill health is being considered https://www.fca.org.uk/publications/consultation-papers/cp19-27-quarterly-consultation-paper-no-25 • Vulnerable clients The firm events hosted by the FCA took place on 17th and 19th September. We would be […]
Members are encouraged to read the attached notice in regard to the forthcoming AGM.
The next committee meeting will take place on Wednesday 18th September 2019. Do you have any issues or questions that you wish to put to the committee, if so, please email in advance to email@example.com. This is the last meeting prior to the AGM which is being held at 1 Wimpole Street, London, on Tuesday […]
• Vulnerable clients Unfortunately, the FCA have declined our request for a speaker at the compliance seminar. However, AMPS is attending a meeting with the FCA along with other trade bodies on 2nd September. Any useful information from this meeting will be passed on. Firms are however advised that the FCA is holding a couple […]
The next committee meeting will take place on Wednesday 21st August 2019. AMPS members are requested to submit any questions or issues for committee discussion, in advance, via email to firstname.lastname@example.org
The 14th Annual General Meeting (AGM) will take place on Tuesday 8th October 2019 at the 1 Wimpole Street, London W1G 0AE. It will be held between the morning and afternoon sessions of the AMPS Compliance and Technical Seminar. The attached Preliminary Notice includes the form for nomination to the AMPS Committee.
The following paper has been issued https://www.thepensionsregulator.gov.uk/en/document-library/consultations/future-of-trusteeship-and-governance-consultation The committee are in dialogue with the Pensions Regulator in respect of this matter, as despite their removal of small self administered schemes in the new standards for professional trustees of occupational schemes in March, “micro schemes” have been included within this CP. In the meantime we would […]
A summary of regulatory activity over the last month is summarised below. • GC19/3 Guidance for firms on the fair treatment of vulnerable customers – published 23rd July 2019 The FCA has published it’s long awaited consultation on vulnerable clients. The FCA has stated; The draft Guidance is set out in three main sections: • […]
AMPS has submitted it’s response to CP19/15 and a copy is saved in the Library. Whilst we await the Policy Statement it feels likely that firms needing to provide investment pathways will be required to establish either an Independent Governance Committee (IGC) or a Governance Advisory Arrangement (GAA). Additionally, the consultation refers to Environmental, Social […]
AMPS has been in continued dialogue with the FCA regarding the requirement to renew Legal Entity Identifiers (LEI) especially as we are aware there is no consistent approach within the industry and some firms continue to be approached about renewals. FCA have confirmed it is the entity carrying out the transactional reporting that is required […]
ILAG have passed us some information from the FCA in relation to the new FCA Directory. The FCA have published some FAQs which are reproduced below. More information is available in the Policy Statement. Any other enquiries can be emailed to DirectoryCommunications@fca.org.uk. Frequently Asked Questions What are the timelines for data submissions? Type of Firm […]
The next committee meeting will take place on Wednesday 17th July 2019. AMPS members are requested to submit any questions or issues for committee discussion, in advance, via email email@example.com
On 13th June, the FCA published a new consultation setting out their views on how firms need to assess their financial resources. This is an important paper that AMPS member firms will want to pay specific regard to and consider responding to. The consultation closes on 13th September 2019. The paper is much more far […]
• CP19/15 Independent Governance Committees – closes 15th July 2019 https://www.fca.org.uk/publication/consultation/cp19-15.pdf A draft consultation response has been prepared and is being reviewed. The committee has a conference call with the FCA on 27th June to discuss the proposals being put forward. • CP19/10: Publishing and disclosing costs and charges to workplace pension scheme members This […]
AMPS has recently been approached by Robbie Constance of DWF Law in relation to a roundtable discussion event about industry implications from the Berkeley Burke case. This will be attended by the QC representing Berkeley Burke. The roundtable is being held ahead of the summer recess and we understand any comments and feedback given during […]
A polite reminder that the next AMPS committee will be held on Wednesday 19th June 2019 – if members have any questions or issues they would like debated these need to be submitted in advance to Claire May (AMPS Secretariate) via email firstname.lastname@example.org. Feedback from the recent Annual conference will be reviewed so it is […]
The minutes of the meeting held on the 9th of April have now been published on the GOV.UK website and can be located here:- https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/806609/Pensions_Industry_Stakeholder_Forum_-__9_April_2019.pdf Topics included project updates on Managing Pension Schemes service, RAS and Devolution and Annual Allowance guidance, reporting of non-taxable death benefits and GMP Equalisation. The meetings are held twice a […]