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Avoiding legal and regulatory pitfalls in digital transformation projects
This article first appeared in the September 2024 issue of Financier Worldwide.
United Kingdom | Publication | November 2022
At a recent hearing with the Industry and Regulators Committee, the Regulator announced that it is working with the FCA to address the recent issues concerning liability-driven investment.
Charles Counsell, the Regulator's Chief Executive, expressed concerns that there was a lack of awareness among some pension scheme trustees, particularly in smaller schemes, over LDI. He stated that the regulators will consider issuing a joint statement to LDI funds and DB schemes regarding the level of collateral they are expected to keep, in the event of sudden bond yield movements.
On a related note, the House of Commons Work and Pensions Committee recently issued a call for evidence into the governance of DB schemes with LDI. In light of this, Counsell said that the Regulator will consider if it needs to further improve data reporting and gathering, as part of its pending response to its 2021 joint consultation with the PPF on collection of DB scheme asset information.
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This article first appeared in the September 2024 issue of Financier Worldwide.
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The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
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On 26 July 2024, the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) jointly released revised rules in respect of the investments into China’s financial market through the Qualified Foreign Institutional Investor and Renminbi Qualified Foreign Institutional Investor (collectively, QFII) regime (the New Rules).
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