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 | April 2023
The Occupational Pension Schemes (Administration, Investment, Charges and Governance) and Pensions Dashboards (Amendment) Regulations 2023 were made on March 30, 2023, and came into force on April 6, 2023.
The new regulations add “specified performance-based fees” to the list of charges excluded from the 0.75 per cent DC charge cap.
They also require trustees of relevant DC schemes to disclose their policies on illiquid investments in their default statement of investment principles (SIP). These disclosures will have to be included by the first date on which the default SIP is revised after October 1, 2023, or October 1, 2024, at the latest.
Trustees will also be obliged to disclose and explain the percentage of assets in their default funds allocated to different asset classes in the annual Chair's statement covering the first scheme year ending after October 1, 2023.
The DWP has published guidance for DC trustees of affected schemes which is intended to assist in the calculation and format of asset allocation disclosures.
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.
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