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Generative AI: A global guide to key IP considerations
Artificial intelligence (AI) raises many intellectual property (IP) issues.
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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Artificial intelligence (AI) raises many intellectual property (IP) issues.
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The UK remains a world leader in offshore wind, accounting for roughly 20 percent of global offshore wind capacity, with 11.3 GW operational. It is forecast that installed capacity will rise to 19.5 GW by mid 2020s.
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On 21 May 2024, the European Council (or Council) adopted the so-called ‘Hydrogen and decarbonised gas market package’ (the Gas Package). The package contains a recast of the 715/2009 gas regulation (Gas Regulation) and a recast of the 2009/73 gas directive (Gas Directive) aimed at reforming the existing EU regulatory framework to support the deployment of renewable and low-carbon gases, in particular hydrogen. As such, it represents a major development in the EU gas market.
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