Examination of Witnesses

Part of Pension Schemes Bill – in a Public Bill Committee at 11:31 am on 23rd October 2014.

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Photo of Gregg McClymont Gregg McClymont Shadow Minister (Work and Pensions) 11:31 am, 23rd October 2014

I intend to move on to CDC shortly. First, the FCA’s evidence seemed extraordinary to me, making it clear that it would not get involved in anything other than setting the guarantee guidelines, and would not get involved in those extra lines of defence. Have you any opinion why that might be? Is it a capacity or philosophy issue? We know that the FCA does not have a great record on pensions.