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Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
United Kingdom | Publication | April 2023
On April 13, 2023, the Regulator published a press release announcing its authorisation of the Royal Mail Collective Pension Plan as the UK's first collective defined contribution (CDC) scheme and has published a list of authorised CDC schemes on its website.
The Pension Schemes Act 2021 introduced an authorisation and supervision regime for CDC schemes and this came into force in August 2022. They must meet stringent criteria including fitness and propriety requirements for those that run the scheme, put in place the right systems and processes, show the scheme is financially sustainable and have robust member communications. The Regulator has supervisory powers and may intervene when necessary.
CDC schemes are an alternative to DB or DC arrangements. Under CDC schemes, employers and employees contribute to a collective fund and the income level of savers in retirement can be adjusted to reflect investment returns and the fund assets available.
Currently, CDC schemes can be set up by a single employer for itself, or for employers in the same group of companies. The Act also contains powers to enable further developments of the CDC market, such as schemes for groups of employers who are not legally connected. Earlier this year, the DWP consulted on extending opportunities for CDC schemes and will respond in due course. The Regulator is working closely with the DWP in this area.
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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