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Ireland
On 31 October 2023, the Screening of Third Country Transactions Act 2023 (the “Act”), which establishes a new foreign direct investment ("FDI") screening regime in Ireland, was enacted.
United Kingdom | Publication | April 2024
All occupational schemes, along with personal pension providers, must connect to pensions dashboards by October 31, 2026, at the latest. The DWP has now published guidance setting out a staged timetable, starting with the largest schemes. This phased connection aims to smooth the process of connecting the approximately 3,000 pension schemes and providers in scope by the 2026 connection deadline.
The revised connection timetable runs from April 30, 2025, to October 31, 2026. Key connection dates:
The timetable is not mandatory, but the DWP is encouraging trustees and pension scheme providers to follow the dates in its guidance unless there are exceptional circumstances preventing them from doing so. The guidance includes a checklist for schemes to use in their countdown to connection.
The Pensions Dashboards Programme published a blog on April 9, 2024, which includes links to the DWP guidance, the FCA rules covering stakeholder and personal pensions and the relevant regulations.
In addition, the DWP has published some Financial Reporting Council guidance to assist with turning the value of accrued DC pots into equivalent annual incomes on dashboards. This should help DC savers in understanding how their DC pot will translate into actual income on retirement.Publication
On 31 October 2023, the Screening of Third Country Transactions Act 2023 (the “Act”), which establishes a new foreign direct investment ("FDI") screening regime in Ireland, was enacted.
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The EU Foreign Subsidies Regulation, or FSR, is intended to prevent or remedy distortions of the EU internal market caused by “foreign” – meaning non-EU – subsidies benefitting companies active in the EU.
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The conventional wisdom is that ‘securitisation caused the great financial crisis’ (GFC). A further piece of conventional wisdom is that this was due to the misalignment of incentives between securitisation originators and securitisation investors . This conventional wisdom in turn drove much of the regulation of securitisation we now have.
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