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Health Canada identifies lithium-ion batteries, infant bath seats, and water beads as hazards of concern
Health Canada has recently identified three new classes of products that pose a hazard of concern.
United Kingdom | Publication | March 2022
The Pensions Regulator has set out steps pension scheme trustees should take in response to the conflict in the Ukraine.
Many schemes have written down any Russian assets they hold to zero and others have announced they intend to divest themselves of such assets when they can. The Regulator recognises the practical challenges of selling those assets and reminds schemes to ensure they are complying with their fiduciary duties, their scheme’s investment policy as set out in their Statement of Investment Principles (SIP), sanctions and related guidance.
What is clear is that we have entered a period of uncertainty and volatility in investment markets. In response, the Regulator expects schemes to be vigilant and seek advice on actions they may need to take. Areas that they should consider as a minimum include:
Apart from taking any necessary actions to comply with sanctions, the Regulator counsels against making hasty, uninformed decisions about a scheme’s portfolio. It reminds trustees that pensions are long-term investments and markets do go up and down.
Trustees should expect and be prepared for an increase in member enquiries and concerns. They should consider whether to communicate with members proactively to let them know what steps they are taking to manage risks. They can also help members by urging them not to rush decisions and by providing them with “clear, relevant and timely information” to enable them to make informed decisions.
The Regulator ends with a plea for feedback from schemes about the challenges they or their sponsoring employer are facing as a result as the conflict. This is to enable the Regulator to build a clearer picture of the impact on UK schemes.
This is a short piece of common-sense advice from the Regulator in response to a fast-evolving situation. Since issuing this guidance on March 4, 2022 it has already been updated several times. Trustees should keep an eye on how the Regulator’s recommendations evolve and be in regular contact with their investment and covenant advisers.
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Health Canada has recently identified three new classes of products that pose a hazard of concern.
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An employer’s ability to ask for a sick note when an employee is absent from work due to illness is becoming increasingly curtailed across Canada.
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Since 2022, the Government of Canada has introduced three waves of amendments to the Competition Act (Act), making substantive changes to Canada’s competition laws, with the most recent amendments receiving royal assent on June 20, 2024.
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