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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 | August 2023
Nausicaa Delfas, newly-appointed Chief Executive of the Regulator, has warned that UK pension fund trustees must consider increasing the range of their investments, including in start-ups or other illiquid assets, or face “robust” intervention.
In an interview with the Financial Times, Ms Delfas said that DC pension trustees must consider more complex investments for their savers, suggesting that otherwise such schemes should wind up or consolidate.
She commented: “Trustees have a duty to savers to act in their best interests. That means properly considering the full range of investment options... The challenge of the last decade was how to get people saving. And now the challenge for us is how do we make sure that they get the right value from their savings.”
It is unclear how the Regulator plans to monitor trustees’ consideration of such investments and the action it plans to take if a sufficiently broad approach is not taken.
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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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