Publication
Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
United Kingdom | Publication | October 2023
On October 2, 2023, the DWP launched a public consultation on the proposed changes to the structure and rates of the General Levy on registrable occupational and personal pension schemes.
The General Levy recovers funding provided by the DWP in respect of the activities of the Pensions Regulator, the Pensions Ombudsman and the pensions-related activities of the Money and Pensions Service. They all receive grant-in-aid from the DWP, which is reimbursed by levy income.
The levy is payable by the trustees of registrable occupational and personal pension schemes and is calculated according to the number of members.
The consultation draws attention to the ongoing deficit in levy funding and seeks views on options for mitigating this over the next three tax years from 2024 to 2025 through to 2026 to 2027. The DWP is seeking the industry’s views on the three options previously agreed by ministers, the options are:
Some commentators have noted that option three would unfairly penalise the very significant number of smaller schemes and could accelerate moves towards consolidation. The consultation runs until November 13, 2023, and responses must reach DWP by 11.55pm on that date, as any replies received after this may not be considered.
Publication
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Publication
The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
Publication
The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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