TISA Group

News Summary:

On July 20, 2026, Tisa welcomed plans to expand the range of pension transfers that can utilize the streamlined Condition 1 process, but called for clearer rules on how receiving schemes are categorized as “reputable.” In its response to the Department for Work and Pensions’ consultation on pension transfer regulations, Tisa stated that clear guidance, referenced in legislation, should support the proposed test to ensure consistent application. The previous day, TISA Group Chief Executive Officer Michael O. Koisen urged Papua New Guinea's financial sector to integrate an estimated K15 billion circulating outside the formal banking system into the economy, aiming to help the nation fully capitalize on its growing resources and energy industry. Earlier in July, TISA Group acknowledged TISA Insurance for its significant wins at the 2026 Insurance Asia Awards. In May, The Investing and Saving Alliance (Tisa) warned the Financial Conduct Authority (FCA) that it risked missing an opportunity to prevent consumer harm from unregulated AI tools, urging the regulator to safeguard consumers against tools conducting unauthorized financial activity. This followed Tisa's call on May 11 for the Financial Ombudsman Service (FOS) and FCA to ensure proposed redress system reforms include clear safeguards for vulnerable consumers, particularly warning that victims of domestic and economic abuse could be blocked from accessing redress.