Publication
Keeping your dawn raid guidance current
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
United Kingdom | Publication | December 2021
The DWP is consulting over removing performance-based fees entirely from the 0.75% charge cap that applies to DC default funds. The aim is to further encourage DC schemes to invest in illiquid assets, such as infrastructure, to aid the UK’s economic recovery.
Although new laws were introduced from October allowing trustees to smooth performance fees over a period of 5 years, the Government is concerned these changes do not go far enough. The Productive Finance Working Group (convened by the Bank of England, HM Treasury and the FCA) recently recommended further consideration of the performance fees and charge cap issue and the Chancellor promised another consultation in the autumn budget.
The DWP recognises that there are other barriers to the type of DC investment the Government is keen to promote, such as daily pricing. It accepts that changes to the charge cap alone will not act as a 'silver bullet' for all issues but hopes to remove at least one barrier DC trustees may face.
The consultation closes on January 18, 2022.
Publication
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
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 English High Court has given its judgment in the legal battle between FW Aviation (FWA) and VietJet Aviation Joint Stock Company (VietJet). This case revolved around the enforcement of leasing agreements for four Airbus aircraft and the alleged interference by VietJet in the aircraft’s repossession in Vietnam.
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