FCA update: Redress liabilities – “polluter pays”
FCA announced back in October 2024 that it would publish “polluter pays” proposals by end of the year. Fast forward to 2025 and there is no sign of this updated…
Analytics
Congruent achieves ISO 9001 certification
We are pleased to announce that we have obtained ISO 9001 certification from a UK accredited body. This is a standard of requirements against which our Quality Management System have…
Capital deduction for redress
The Financial Conduct Authority (“FCA”) have launched a consultation that would require Personal Investment Firms (“PIFs”) to quantify and set aside capital resources for “potential redress liabilities” connected to designated…
Determining payment of redress under FCA DISP App 4
The two main ways in which redress can be provided are augmentation or by cash payment – another way is by purchase of an annuity but that option is not…
Congruent Calculations™ – DC pensions
The DC pension calculator determines the adjusted market value as per FCA DISP App 4.2.7.G when the DC pension fund has received contributions (and other transfers not related to the…
Removing the impact of contributions and/or transfers from fund valuation
To determine redress according to FCA DISP App 4 (in particular DISP App 4.2.7G) one needs to consider the impact of contributions (which can include additional transfers in) and/or withdrawals…
Defined benefit pension transfers – performance statistics
Inflation expectations in the UK have resulted in increases in long-term interest rates as markets price in future expected base rate increases by the Bank of England. These long-term interest…