Publication
Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | May 2022
Updated guidance sets out good practice for trustees and administrators for processing defined benefit (DB) transfers.
Published on May 3, 2022, by the Pensions Administration Standards Association (PASA), the guidance sets out principles for achieving a “faster, safer and more efficient” transfer experience. These include the need for clear and timely member communications, keeping members and other third parties informed about delays, and wherever possible using standard transfer templates for scheme and member information requests.
The guidance also has practical tips for improving member experience, such as supplying an early retirement quote when a member is over normal minimum pension age and moving to online identity verification rather than asking for paper-based ID.
In the light of industry feedback, the final guidance does not set out specific timescales for tasks.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Publication
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.
Publication
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.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023