Lords Industry and Regulators Committee hears from The Pensions Regulator and Financial Conduct Authority (FCA) on the use of liability-driven investment by pension funds
Monday 14 November
The House of Lords Industry and Regulators Committee will hear from representatives of The Pensions Regulator and Financial Conduct Authority (FCA) on the use of liability-driven investment (LDI) by pension funds on Tuesday 15 November.
The session will run from 10.30am until 12.30pm and can be followed live on Parliament TV or in person in Committee Room 4a, Palace of Westminster.
Giving evidence will be:
- Charles Counsell, Chief Executive, The Pensions Regulator
- Neil Bull, Investment Specialist, The Pensions Regulator
- Nikhil Rathi, Chief Executive, Financial Conduct Authority
- Simon Walls, Wholesale Director Sell Side, Financial Conduct Authority
Possible questions include:
- What are the roles of your organisations in overseeing the risks associated with liability-driven investment (LDI) strategies? What role do you play in regulating the key players in this market, and why was this regulation not sufficient to avoid the recent market turbulence?
- Who holds responsibility for overseeing systemic risks in the pensions sector? Do the relevant regulators work closely together to ensure that nothing falls between the cracks?
- Will the use of LDI, and particularly leveraged LDI, be a bigger part of your regulatory oversight now?
- To what extent are investment consultants regulated? Should they be brought within the regulatory perimeter, and if so, which regulator should oversee their work?
- Do you feel that the Government gives you a clear steer as to its objectives in relation to pensions regulation? Was the drive towards de-risking a result of the underlying legislation, government policy or its interpretation by regulators?
