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READ MOREPensions watchdog called in to emergency talks on UK market turmoil
The Pensions Regulator has for the first time been drafted into high-level emergency talks led by the Treasury and Bank of England as they examine measures to calm financial markets in the wake of the meltdown which followed Kwasi Kwarteng’s mini-budget.
The watchdog, which oversees the £1.5tn pension sector, is understood to have been summoned into closed-door meetings of the Authorities’ Response Framework (ARF), which are triggered when an “incident or threat” could cause major disruption to financial services in the UK.
Officials will now consider how to further respond to the meltdown that followed the chancellor’s speech and forced the Bank of England to intervene with a £65bn bond-buying programme in order to avoid a pensions crisis.
Read more at The Guardian
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