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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | July 2022
Under the Pension Schemes Act 2021, the legal framework for pensions dashboards is set out. The final regulations are expected to be in force by the end of 2022, and it will then be mandatory for trustees to connect with, and supply information to, pensions dashboards allowing their members to see pension information online.
The Regulator has now published some initial guidance which includes a useful checklist against which trustees and their administrators can assess the progress made in the run-up to their staging (or connection) deadline.
Trustees are urged to begin this process as soon as possible by:
Trustees may also find useful some guidance on dashboard accuracy data published by the Pensions Administration Standards Association. The PLSA’s compact guide sets out how trustees could approach their initial dashboard preparation by confirming member data and identifying any duplications on their system. It also provides a list of both private and public data sources available to trustees.
Although schemes’ staging dates may seem a long way off, the amount of work involved to get dashboard-ready should not be underestimated. Trustees should approach their scheme administrator sooner rather than later to get this ball in motion.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
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