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Avoiding legal and regulatory pitfalls in digital transformation projects
This article first appeared in the September 2024 issue of Financier Worldwide.
United Kingdom | Publication | March 2024
On March 12, 2024, the Chief Executive of the Regulator, Nausicaa Delfas, delivered a speech on the changes to the pensions sector and how the Regulator is responding.
The speech addresses the growing influence of scheme consolidation across both DB and DC schemes, the changing role of trustees in producing transparency and value for members, the emergence of superfunds and the broadening powers of the Regulator around compliance, oversight and analysis.
On the Government's Mansion House reforms, the Regulator believes that productive assets can play a role in a diversified portfolio if trustees have the necessary expertise, advice and governance. In January 2024 the Regulator issued guidance to support trustees in relation to private markets investments.
Commenting on pensions disclosure requirements, Ms Delfas said that the increased disclosure requirements were changing behaviour, for instance, in relation to climate change reporting, and the goal is to encourage genuine change in how schemes operate. It was incumbent on the Regulator to change if it was to “protect, enhance and innovate” in savers’ interests.
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This article first appeared in the September 2024 issue of Financier Worldwide.
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The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
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On 26 July 2024, the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) jointly released revised rules in respect of the investments into China’s financial market through the Qualified Foreign Institutional Investor and Renminbi Qualified Foreign Institutional Investor (collectively, QFII) regime (the New Rules).
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