The Pensions Regulator has appointed FCA chief operating officer Lesley Titcomb as chief executive.
TPR has been without a permanent chief executive since Bill Galvin quit in March 2013. Titcomb is an FCA board member who has been with the regulator and its predecessors since 1994. She will take up the post from 2 March 2015.
At the FCA Titcomb, who replaces interim chief executive Stephen Soper, was instrumental in the mortgage market review and in transferring consumer credit regulation from the Office for Fair Trading to FCA earlier this year.
She says TPR needs to be a “strong, independent pensions regulator” that is respected for its technical expertise and authoritative voice.
She says: “I relish the opportunity of working with the regulator’s high quality team and with other industry stakeholders to ensure that the changes and new freedoms planned for the pension system deliver clear benefits for retirement savers.”
TPR chair Mark Boyle says: “Lesley brings a wealth of regulatory and operational experience, at a time when The Pensions Regulator’s responsibilities continue to expand.
“Next year will see the introduction of new minimum standards and a charge cap for DC schemes, much greater freedom for members drawing a retirement income, new regulatory responsibilities for public service pension schemes and the roll out of automatic enrolment to small and micro businesses. I look forward to working with Lesley and colleagues at the regulator as we tackle these important challenges.
“I would like to thank Interim chief executive Stephen Soper for his strong leadership during an extremely busy and challenging period, which has seen the successful implementation of the first phase of automatic enrolment and a number of landmark case outcomes for the regulator. Stephen continues to lead the organisation until March.”
A charge cap that’s interesting I wonder how that will play out?
As a very small boy, I was taught to sing a nursery rhyme “ring, a ring of roses” while sitting making daisy chains.
I wonder why this announcement called that to mind!
There ggg goes tha REVOLVING DOOR of Employment for FCA officials ! I often wonder how David Cameron justifies the cost of the FCA ( as a financial overhead – a Cost Burden – on the UK Tax payer. . .with such poor results. In my opinion the Regulator – is a waste, and administration system which saps your energy – and the Advisers earnings – a MAJOR CASH LIABILITY on their business – which has and is the cause for these businesses to downsize – restrict numbers of clients – to be REPLACED by GUIDANCE from the State Money Advice “Service ” – abusing the word ” Service”.
With around 20,000 advisers currently surviving in the ” marketplace”, plus . . . the Death of the Banks – with a population of some 65 million people ( who the Government know about – plus the cash dealing car washers and other immigrants who have entered the UK illegally and those numbers are not known ) – it seems absolutely daft – to have so many people in the FCA – dictating their ever changing terms . . .to so few – and at such cost. This like the function of the NHS Trusts – who have been so costly – have NOT WORKED and are a Financial Drain – No wonder Osborne’s Bankrupt. What Osborne inherited – he has lost further . . . . . .and is using tax payers money for QE – austerity measures . . . .and his on going incompetence. Clearly David Cameron is unaware – as he is unaware of the Financial Amounts due to Europe £ 1.7 Billion – I mean who is keeping count – if Cameron is not ? No wonder Scotland wanted Independence to RUN THEIR OWN AFFAIRS – and this will be borne out with the Lies of Cameron . . . .Promises made one DAY – broken the next . . . . . . and every County in England wants control of their destiny – BECASUE CENTRALISATION DOES NOT WORK – for Her Majesty’s . . . . UNTIED KINGDOM . . . . .perhaps we will see Jamesy Bond back – promoting the UK as he did for the Olympics – demonstrating that Sales and Marketing – without any administration – is a useless waste of MONEY . . .Tax Payers Money !