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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 | June 2022
Statutory guidance on the preparation of implementation statements has been issued following a consultation that closed earlier this year. The new statutory guidance will apply to implementation statements prepared in respect of any scheme year ending on or after October 1, 2022.
Key points to note include that additional information on the voting behaviour and policies of asset managers will be required, including more detailed explanations of how these align with the scheme’s stewardship policies and how managers are monitored by trustees.
In addition to the statutory guidance that must be complied with, non-statutory guidance on the preparation of the statement of investment principles has also been released alongside this – trustees should have regard to this as good practice when updating their SIP.
Publication
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.
Publication
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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