FRC Amends FRS 102 for Balance Sheet and Profit/Loss Accounts

The Financial Reporting Council (FRC) has issued amendments to FRS 102, effective for accounting periods beginning on or after January 1, 2027. These changes update the framework for companies adapting their balance sheet and profit and loss account formats, maintaining alignment with IFRS. Entities not adapting their formats will not be affected.

The Pensions Regulator Appoints Executive Director

The Pensions Regulator (TPR) has appointed Richard Knox as its Executive Director, Strategy, Policy and Analysis. This appointment is part of TPR's ongoing transformation to address the evolving pensions landscape and strengthen its senior leadership team.

Pension Value, Costs, and Service Quality Publication Proposals

The FCA, DWP, and The Pensions Regulator have proposed new measures requiring pension schemes to publish data on performance, costs, and service quality. These proposals aim to ensure savers receive good value and are open for comment until March 8, 2026.

TPR Data: Shift from Savings to Pensions System, Warns Smaller Schemes

New data from The Pensions Regulator (TPR) shows a significant shift towards in-scheme retirement options, with 13.4 million members now having access to drawdown. TPR urges smaller pension schemes to improve their offerings or consider consolidation.

Ben Gunnee appointed Interim Executive Director, Market Oversight

Ben Gunnee appointed Interim Executive Director, Market Oversight

SFO v. AOG Technics Director - Fraudulent Trading

The Serious Fraud Office (SFO) has concluded its substantive case against Jose Alejandro Zamora Yrala, director of AOG Technics Ltd, with his sentencing to 4 years 8 months in prison for fraudulent trading. The company was investigated for supplying suspected unapproved aircraft parts.

Serious Fraud Office v. Safe Hands Plans Limited - Fraud Investigation

The Serious Fraud Office (SFO) has charged two former executives of Safe Hands Plans Limited and its parent company, SHP Capital Holdings Limited, with conspiracy to defraud. The investigation into suspected fraud began in 2022 following the collapse of the pre-paid funeral plan scheme, impacting approximately 46,000 plan holders.

SFO Investigation into London Capital & Finance plc

The Serious Fraud Office (SFO) announced an ongoing investigation into individuals associated with London Capital & Finance plc (LCF), which relates to investments offered to the public between 2013 and 2018. The SFO opened the investigation in 2019 and has made arrests, with the case remaining active.

SFO Investigates Northern Powerhouse and MBi Group for Fraud and Money Laundering

The Serious Fraud Office (SFO) announced an investigation into suspected fraud and money laundering by the Northern Powerhouse Development Group and MBi Group. The investigation, which began in August 2021, focuses on investments offered in care homes and hotels between 2013 and 2019.

Consultation on UK Solvency II Own Funds Rules Updates

The Bank of England's Prudential Regulation Authority (PRA) has issued a consultation paper (CP4/26) proposing updates and fixes to UK Solvency II own funds rules and expectations. The consultation seeks feedback on these proposed changes, with responses due by April 24, 2026.