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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | March 2022
The Regulator has confirmed that it will take a flexible approach when it comes to review the first wave of mandatory reports on climate change risks.
A Regulator spokesman gave this reassurance in a speech at a recent conference of the Pensions and Lifetime Savings Association (PLSA).
This is consistent with previous messaging from the Regulator, recognising that undertaking governance and reporting in line with the Taskforce for Climate-related Financial Disclosures (TCFD) is a new area for pension schemes and their advisers. There may also be an issue, at least initially, with the availability and quality of data.
Trustees that fail to produce a report will receive a mandatory fine but the Regulator spokesman highlighted that penalties for reports which fell short of the full requirements were discretionary. The Regulator plans to look at “the bigger picture” rather than focussing on technicalities.
This will no doubt be welcomed by the largest occupational pension schemes and master trusts which are having to grapple with the new requirements first. However, the Regulator has also put down a marker that it will expect standards to improve over time.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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Taking place across three webinars, our team of experienced lawyers and consultants, along with industry professionals and regulators, explore the latest ESG developments and trends within financial services regulation. This series takes a cross jurisdictional perspective, covering ESG financial services regulation and trends from across the globe.
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