Ian Tonks is a Professor of Finance in the University of Bristol Business School. His research focuses on pension economics; annuities; fund management; directors’ trading; and market microstructure. He has published in leading finance, economics, accounting and management journals. He has acted as an expert witness in a legal case on financial regulation, and has provided advice to a number of commercial and regulatory organisations including London Stock Exchange, Competition Commission, Financial Services Authority, and Financial Conducts Authority; and has advised HM Treasury, Bank of England, Department of Work and Pensions, and House of Commons Work & Pensions Select Committee on issues in pensions.