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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 | July 2023
The Regulator has published a blog published on July 12, 2023, in which Chief Executive Nausicaa Delfas suggests that there needs to be a “fundamental mindset shift throughout the pensions industry”.
The Regulator welcomes the Government’s new package of pensions measures outlined in the Mansion House speech. It believes that widening the opportunities for CDC schemes and the introduction of a statutory regime for DB superfunds can help bring about improved governance and the necessary scale to achieve good outcomes.
However, the Regulator indicates that a mindset shift is needed in relation to sophisticated investment governance practices, the scale to drive efficiency and highly qualified trustees challenging advisers to make sure all savers get the best possible pensions.
The intention is to overhaul its DC guidance to support trustees to make well-informed investment decisions and to reflect new duties on trustees to report on their policy on illiquid investments.
In the autumn, the Regulator will provide new guidance on investing in productive finance and update its existing investment guidance for both DB and DC schemes. The new DB funding code will also clarify where DB schemes are able to accommodate investment in growth assets, particularly for open and immature schemes.
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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