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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 | June 2022
The Pensions Regulator has published a blog post authored by David Fairs recognising that the first wave of Taskforce on Climate-related Financial Disclosures reports represent both a challenge and an opportunity.
Fairs notes that trustees have faced some practical challenges in preparing these reports, particularly around costs and resources, the availability, quality and consistency of data and in ensuring the disclosures are accessible and useful for members.
In recognition of this, Fairs confirms that the Pensions Regulator will be mindful of these challenges when reviewing the reports. The Regulator will also provide high-level feedback on the reports to assist in-scope schemes with future reporting.
The Regulator does not anticipate that any penalty notices will be issued in relation to the first wave of TCFD reporting except where a report is not published at all or where it is clear that the trustees have not made a genuine effort to comply.
For schemes in the second wave, the Regulator anticipates using the first wave reports and experiences to refine its expectations of trustees.
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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.
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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 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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