Publication
Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | May 2022
The Pensions Regulator has confirmed that it will develop common measurements to allow savers to see which DC schemes offer the best value for money.
Working jointly with the Financial Conduct Authority (FCA), the two regulators will engage with industry and consumer groups in the coming months before publishing a consultation on proposals “towards the end of 2022”.
This statement follows on from a Pensions Regulator and FCA discussion paper in 2021 about how best to measure value for money.
The regulators believe that it is currently hard to compare fees and charges, investment performance and quality of service. They want to achieve consistent data across the pensions industry on investment performance, costs and charges and service standards. The idea is that this greater transparency should improve competition and value.
The Pensions Regulator says that there is clear support across the industry for a consistent approach. However, achieving this will be complex, there are differences of opinion about the best approach and further work is needed on what should be disclosed and how.
For most DC schemes this is likely to mean further disclosure requirements in due course. Trustees should monitor how this initiative develops.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
Publication
The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023