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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 | May 2023
The FCA is concerned about overseas firms targeting the UK pension benefits of DB scheme members living overseas. It reminds UK firms engaging with overseas firms, or offering advice to scheme members based outside the UK in relation to a possible transfer of their DB benefits, to have regard to their regulatory responsibilities.
On April 27, 2023, the FCA published some online guidance for UK firms engaging with overseas firms or offering transfer advice to scheme members based outside the UK.
The FCA explains how the overseas advice model works and outlines circumstances where different scenarios involving overseas advice models are likely to result in poor consumer outcomes. It also provides examples on how those in the UK advising on potential benefit transfers can prevent and detect possible harm, and how they can support good consumer outcomes.
Where the FCA becomes aware that a firm is engaging in practices that are likely to result in significant consumer harm, it will take appropriate action, which may include opening an enforcement investigation.
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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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