FCA Fined By Pensions Regulator Over 'Insufficient Detail'

Law360, London (January 27, 2020, 4:12 PM GMT) -- The Financial Conduct Authority has been handed the maximum possible fine by another British regulator for disclosing “insufficient detail” in its staff pension plan report, the City watchdog admitted on Monday.

The FCA said it had been fined £2,000 ($2,600) by The Pensions Regulator because of a lack of information in its 2018 governance report.

The fine was levied in the third quarter of the year, after the FCA’s pension plan applied to become a master trust — a multi-employer occupational program.

“The FCA Pension Plan did not comply with the law because it did not include all of the information...

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