The Financial Conduct Authority has pointed to a “gap in regulation” around investment consultants – noting a more active approach to oversight could improve pension scheme resilience and a better focus on stress testing.
Speaking at a Treasury Select Committee hearing into the work of the FCA on Monday (7 November), the regulator's interim chair Richard Lloyd and chief executive Nikhil Rathi also responded to queries from MPs regarding liability-driven investment (LDI) and the issues that had arisen in such strategies since September's Mini Budget. Treasury Committee member and Conservative MP for West Worcestershire Harriett Baldwin asked Lloyd and Rathi about what they thought had gone wrong with regards to LDI and whether sufficient steps had now been taken to prevent similar issues happening again in...
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