Publication
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 | August 2024
On August 8, 2024, the Financial Conduct Authority published a consultation seeking views on a value for money framework for contract-based workplace DC schemes, with the aim of promoting greater transparency over how schemes are performing.
Schemes would be assessed in three main areas under the framework: investment performance; costs and charges; and the quality of service provided to members. Each of the three areas would then be rated on a traffic light system according to an annual assessment by each scheme’s independent governance committee or other governance body.
Under the proposals, a “green” assessment would signify that the scheme represents value for money, whereas “amber” would indicate that regulators believe the scheme can be improved to provide value within a “reasonable period of time”, and a “red” rating would mean regulators do not believe that this is possible. Schemes rated “red” would be required to close to new business and transfer members to an alternative arrangement with better ratings.
The Authority confirmed that whilst the consultation relates to rules for FCA-regulated firms operating contract-based pensions, its proposals are based on previous joint work with the DWP and the Regulator and are “designed to be suitable for application across the DC workplace pensions market”.
The consultation closes on October 17, 2024.
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.
Publication
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.
Publication
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.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023