Asia | Publication | August 2024
This article first appeared in the September 2024 issue of Financier Worldwide.
Digital transformation projects are prevalent across the globe. According to Statista, worldwide spending on digital transformation technologies and services is projected to reach $2.49 trillion in 2024 and $3.9 trillion by 2027. Most companies are replacing legacy systems and have embraced cloud technologies. The use of generative artificial intelligence (GenAI) solutions, while not as widespread presently, is rising rapidly.
We are seeing numerous cutting-edge transactions involving digital transformation. These projects bring enormous benefits to companies, including improved staff and customer satisfaction, increased operational efficiency, the ability to aggregate and analyse data, and the development of new products and services. At the same time, we have seen an assortment of legal and regulatory issues that frequently arise in these projects. These may range from minor issues that can be settled over a phone call to high-priority matters that can prevent a project from getting off the ground or delivery being disrupted or delayed. In this article, we consider some of the pitfalls that lie in wait for the unwary.
Publication
The Court of Appeal has overturned a 2023 High Court decision in Manolete v White [2024], ruling that courts cannot issue injunctions requiring members to draw down their occupational pensions to make them available to judgment creditors.
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The Chancellor presented her maiden Budget on October 30, 2024.
Publication
On October 29, 2024, the PPF published a response to its March 2024 consultation, confirming that it would proceed with its proposal to give actuaries the option of using a bespoke discount rate assumption in s. 143 valuations of smaller pension schemes.
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