United Kingdom | Publication | August 2023
Nausicaa Delfas, newly-appointed Chief Executive of the Regulator, has warned that UK pension fund trustees must consider increasing the range of their investments, including in start-ups or other illiquid assets, or face “robust” intervention.
In an interview with the Financial Times, Ms Delfas said that DC pension trustees must consider more complex investments for their savers, suggesting that otherwise such schemes should wind up or consolidate.
She commented: “Trustees have a duty to savers to act in their best interests. That means properly considering the full range of investment options... The challenge of the last decade was how to get people saving. And now the challenge for us is how do we make sure that they get the right value from their savings.”
It is unclear how the Regulator plans to monitor trustees’ consideration of such investments and the action it plans to take if a sufficiently broad approach is not taken.
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On 29 November 2024, the first tranche of sweeping Australian privacy reforms under the Privacy and Other Legislation Amendment Bill 2024 (Cth) (Bill) passed both Houses of Parliament.
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A value-referenced crypto asset (VRCA, commonly known as a “stablecoin”) is a crypto asset designed to maintain a stable value over time by referencing the value of a fiat currency, such as the US dollar, or any other value or right, or a combination thereof. It can be used as a medium of exchange or as a store of value that is less volatile than other crypto assets.
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