the financial services regulator, the fca, is to be investigated over its role in the british steel pensions they were advised to transfer out of the pension in 2017. some say they have been failed again by the authorities. the national audit office will look at the fca to see if they've provided enough support. 0ur wales correspondent, hywel griffith, has the story. it's a cloud that hangs over britain's steel industry — thousands of its workers who were saving for their future had their pensions preyed upon by a few financial advisers, looking for a quick profit. we all earn the same amount of money and they all had £85,000 and i had zero. how's that fair? richy pugh, from port talbot, is one of nearly 8,000 workers who followed the advice to cash in his pension and invest — a decision which now means he may have to work longer. he's received no compensation. it's a long, long battle, and it shouldn't be so difficult to get fairness for all steelworkers. it's a lottery on who gets what. i mean, my pension's dropped £20,000 in the last two weeks because of the markets. that's not right, you

the national audit office will look at the fca to see if they've given enough support.it shouldn't be so difficult to get fairness for all steelworkers. it's a lottery on who gets what. i mean, my pension's dropped £20,000 in the last two weeks because of the markets. that's not right, you know? there's no stability for myself and that's the same for everybody else. workers like richie were told to transfer out of their pension in 2017, after being warned it could fail. many took bad advice and depended on a regulator being there to protect them. that regulator, the financial conduct authority, is now being investigated to see whether it acted properly and has done enough since to support the workers. it means we are no longer banging on the door of the regulator and the compensators, it means that someone else is of equal standing. for many steelworkers, this will, or should, mean there's light at the end of the tunnel. what happened in the steel industry was one of britain's worst ever mis—selling scandals, but it only really came to light because so many of the worke

the national audit office will look at the fca to see if they've given enough support. markets. that's not right, you know? there's no stability for myself and that's the same for everybody else. workers like richy were told to transfer out of their pension in 2017, after being warned it could fail. many took bad advice and depended on a regulator being there to protect them. that regulator, the financial conduct authority, is now being investigated to see whether it acted properly and has done enough since to support the workers. it means we are no longer banging on the door of the regulator and the compensators, it means that someone else is of equal standing. for many steelworkers, this will, or should, mean there's light at the end of the tunnel. what happened in the steel industry was one of britain's worst ever mis—selling scandals, but it only really came to light because so many of the workers were all in one place and realised together something had gone wrong. the fear is that other people in other industries may still be vulnerable to a few unscrupulous advis

credit suisse has also agreed with the fca to forgive us$200 million of debt owed by the republic ofhe global shipping industry has been announced. spearheaded by the aspen institute, it is asking participating companies to switch all of their ocean freight to vessels powered by zero—carbon fuels by 2040. it's already got some big names to sign up, including amazon, unilever and ikea. samira hussain reports from new york. this port as the entire country of germany. it is why the swedish furniture maker ikea has said it will encourage the industry to clean up its environmental act with ocean shipping accounting for 40% of all of ikea's transportation, the company plans to use its influence to make maritime shipping less polluting. irate shipping less polluting. we want to use _ shipping less polluting. - want to use vessels that use zero emission fuels and it is about scaling this up and i think right now is the time to really come together and this is the d carbon injourney really come together and this is the d carbon in journey that we need to make together. ikeq we need to make to

and the financial regulator, the fca, looked _ the financial regulator, the fca, looked at — the financialthat regularly, get a receipt if you don't — regularly, get a receipt if you don't bank online, so you know whether— don't bank online, so you know whether what you think you are spending — whether what you think you are spending matches with what you have spent _ spending matches with what you have spent if _ spending matches with what you have spent. if you lose your card, then obviously— spent. if you lose your card, then obviously somebody could then use it up obviously somebody could then use it up to £300, which is the limit after which _ up to £300, which is the limit after which you _ up to £300, which is the limit after which you will be asked to put in your— which you will be asked to put in your pain — which you will be asked to put in your pain. "— which you will be asked to put in our ain. , ., , ,., your pain. -- pin. that is the point where you — your pain. -- pin. that is the point where you might — your pain. -- pin. that is the point where you might find _ your pain.

athlete that exceed the limits of those -- that coverage, there is a catastrophic injury policy that the fca pays millions of dollars for every year that covers those athletes. we have had student athletes become heard for significant amounts come up $100,000 or more a year for their entire lifetime to cover the cost of their injuries. >> thank you. let me ask you, i want to go back to one of my colleagues, and mention the paper plate. that seems like -- pay for play, that seems like a simple -- slippery slope. what happened at a school out west, where the school arranged the agreement for a company to give scholarships or money to pay for each of the 123 players on the football team to get the equivalent of tuition. how cannot not be paid for play? >> that is part of why we are here today, we need standardize definitions across the country about what is and what is not at corporate relationship around name, image and likeness. today we do not have that. we need continuity so about the universities themselves and the athletes know and those who enter into those arrangements note what the rul

athlete that exceed the limits of those -- that coverage, there is a catastrophic injury policy that the fca pays millions of dollars for every year that covers those athletes. we have had student athletes become heard for significant amounts come up $100,000 or more a year for their entire lifetime to cover the cost of their injuries. >> thank you. let me ask you, i want to go back to one of my colleagues, and mention the paper plate. that seems like -- pay for play, that seems like a simple -- slippery slope. what happened at a school out west, where the school arranged the agreement for a company to give scholarships or money to pay for each of the 123 players on the football team to get the equivalent of tuition. how cannot not be paid for play? >> that is part of why we are here today, we need standardize definitions across the country about what is and what is not at corporate relationship around name, image and likeness. today we do not have that. we need continuity so about the universities themselves and the athletes know and those who enter into those arrangements note what the rul