26th February 2018 Anne-Marie Winton comments in Law360 on Barclays’ plan to re-house its pension scheme in a new investment banking arm
When Barclays becomes the first British bank to reveal in court how it will comply with new ring-fencing regulations, pension lawyers will look to how the bench reacts to the lender’s controversial plan to house its pension scheme in its newly separated investment banking arm.
Some of the plan’s 280,000 members have raised concerns ahead of the hearings that the decision exposes them to risky investment activities, unlike other banks that plan to ring-fence their pension schemes within their retail operations.
Pressure from Frank Field MP and the Committee for Work and Pensions is likely to keep Barclays and other banks on their toes, fearful of a public relations disaster if they take a false step.
“You can get a rough ride through the select committee,” cautioned Partner Anne-Marie Winton. “The Work and Pensions Committee [are] chipping away and asking questions.”
Read Anne-Marie’s comments in Law360
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