On 22 May 2023, the FCA published a consultation paper (CP23/12) on the second phase of expanding the Dormant Assets Scheme. The Dormant Assets Scheme was initially set up to allow banks and building societies to pay dormant...more
The Financial Conduct Authority published the final notice issued to Aviva Pension Trustees UK Limited and Aviva Wrap UK Limited, fining the firms £8,246,800 for failing to have adequate controls and oversight arrangements to...more
The FCA has fined Aviva, the UK insurance group, £8.2 million for failing to have appropriate controls over its outsourced service providers. According to the FCA’s press release, the fine would have been even larger at £11.8...more