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Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
United Kingdom | Publication | September 2023
On September 18, 2023, draft regulations on PPF compensation were laid before Parliament, made under the restatement powers of the Retained EU Law (Revocation and Reform) Act 2023 (the Act). The Act permits "secondary retained EU law" (which includes retained case law) to be restated in regulations and also allows a restatement to use different words or concepts from those used in the original law in order to resolve ambiguities.
The need for the restatement arises because after December 31, 2023, retained EU law will cease to have effect in domestic law. The Government's policy is to retain the effects of the judgments in the Hampshire case, where the ECJ found that former employees should receive at least 50 per cent of the value of their accrued pension benefits on their employer's insolvency, and the Hughes case where the Court of Appeal upheld a previous High Court judgment that disapplied on grounds of age discrimination the PPF compensation cap applying to members below their scheme's normal pension age.
Under the powers in the Act, the draft Pensions Act 2004 (Amendment) (Pension Protection Fund Compensation) Regulations 2023 will:
Publication
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
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.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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