Mark Whitehead 02 September 2016

Regulators ‘misstating’ Whitehall’s legal position, pension chiefs say

Regulators ‘misstating’ Whitehall’s legal position, pension chiefs say image

Council pensions chiefs have accused financial regulators of misstating the Government's position on a complex issue of company law.

Last year the Local Authority Pension Fund Forum said the Financial Reporting Council was 'wrong on how crucial capital and solvency law set a basic standard for company accounts under “the true and fair view” test.'

It warned that 'the FRC’s system omits this key investor and public interest safeguard.'

Now it has obtained correspondence under a Freedom of Information request which it says shows that the FRC's claim that the Government agree with it was wrong.

It says: 'LAPFF notes that the FRC has never revealed the true government position as set out in their correspondence. Indeed, some of what was cited in the press was still misstating the Government position.'

The forum added: 'Some critics have said that LAPFF is focussed on an anodyne, narrow point of law.

'However, that entirely misses the point which is extremely serious. It matters to all who own shares or have a pension.'

SIGN UP
For your free daily news bulletin
Highways jobs

Education, Health and Care (EHC) Co-ordinators

Buckinghamshire Council
£30,874 - £37,188 per annum
Interested in a career as an EHC Coordinator? Come along to our drop-in event to meet members of the SEND team and find out more about the role! England, Buckinghamshire, Aylesbury
Recuriter: Buckinghamshire Council

Group Leader x 3 jobs

Kirklees Metropolitan Council
£42,683 - £44,632 per year
We are looking for highly motivated and skilled individuals to support the development and delivery of an ambitious Greenspace service. Kirklees, West Yorkshire
Recuriter: Kirklees Metropolitan Council

Senior Technical Officer (Highway Assets & Infrastructure)

Newport City Council
£30,507 - £33,799 pa
The post holder will report directly to the Assets and Infrastructure Team Manager and will provide a technical lead on... Newport (Casnewydd)
Recuriter: Newport City Council

Apprentice Recovery Practitioner

Redbridge London Borough Council
£20,572.50 per annum
We are seeking to recruit a dynamic and passionate Apprentice Recovery Practitioner to contribute to the success of the R3 service. Ilford, London (Greater)
Recuriter: Redbridge London Borough Council

ASC Social Worker - Complex Behaviour Team

Essex County Council
£30300 - £41425 per annum
This is a county wide role, office base consideration given as main office closest to home address. Job PurposeECC Adult Social Care, through effectiv England, Essex, Colchester
Recuriter: Essex County Council

Local Government News

Latest issue - Local Goverrnemnt News

This issue of Local Government News explores how councils can tackle modern slavery and trafficking in their supply chains, finds out more about Cambridge's first cohousing scheme and the launch of a new project to build a shared service pattern library for local government.

This issue also contains a special focus on children's services and how councils are protecting children following local safeguarding children boards being abolished.

Register for your free magazine