Hogan Lovells

Key Dates

Policy Statement PS17/20 issued on 20 September 2017.

Changes to the Conduct of Business Sourcebook (COBS) have effect from 3 January 2018.


Summary

The Financial Conduct Authority (FCA) has issued a Policy Statement (PS17/20) on its approach to requiring firms managing money on behalf of defined contribution (DC) workplace pension schemes to disclose administration charges and transaction costs to the governance bodies of those schemes (Independent Governance Committees (IGCs) for workplace personal pensions and trustees for occupational pension schemes).

From 3 January 2018, a firm must provide a pension scheme's governance body, on request, with:

Where a firm does not have the information required, it must seek it from other firms which, if they are FCA-authorised, must provide the information.

 



Date Accessed: 03/12/2021