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19 April 2022
Pensions and ESG Soundbite series
There is an increasing focus on the management of environment, social and governance (ESG) risks, including climate-related risks, by UK pension schemes, providers and assets managers. New and increasing disclosure requirements mean that trustees, providers and asset managers will be exposed to...
03 December 2021
Directors, Insolvency Practitioners and Third Parties Must Tread Carefully as New Pensions Offences Lie in Wait for the Unwary
The Pension Schemes Act came into effect on 1 October 2021 introducing the possibility of criminal prosecution where the restructuring arrangements or corporate actions of directors, lenders, investors, advisers and other parties might affect the interests of a defined benefit pension scheme. The...
22 April 2021
Scottish independence: Employment and pensions law implications
As the prospect of an independent Scotland climbs up the political agenda, we are publishing a series of briefings on the implications of Scottish independence for business, which will be available at our new hub here. This briefing considers the potential implications for business in relation to...
15 March 2021
Regulator issues draft guidance on policing new criminal offences
The Pension Regulator has published for consultation its much anticipated draft guidance on how it intends to police the new pensions criminal offences due to come into force this Autumn. The draft guidance suggests that the Regulator will use these new powers sparingly and that they are not...
01 March 2021
UK Pension Schemes Act 2021 Soundbite Series
The Pension Schemes Act 2021 will introduce the most significant reforms to the UK's funding and regulatory framework for defined benefit pension schemes since the regime was introduced in 2005. The Act will introduce three new pensions-related criminal offences, more stringent financial penalties...
17 February 2021
New statutory funding requirements put focus on end game for DB schemes
The Pension Schemes Act 2021 finally received Royal Assent on 11 February 2021. The Act contains some significant new funding requirements for defined benefit (DB) occupational pension schemes which mean that trustees and sponsors will soon be required to set a legally binding long-term objective...
12 February 2021
M&A, restructuring, re-financing and dividends likely to be hit by new pensions offences and regulatory sanctions
The Pension Schemes Act 2021 finally received Royal Assent yesterday, paving the way for the most significant reform of the regulatory regime for defined benefit (DB) pension schemes since its introduction in 2006. The Act introduces new criminal offences and new regulatory powers for the Pensions...
03 November 2020
On demand: Webinar: Pensions regulation – The new normal?
Before the outbreak of Covid-19, the Pensions Regulator was emphasising its tougher approach to pensions regulation: Clearer, Quicker, Tougher . This focus is borne out in the Pension Schemes Bill, with the range of extensive new powers it will afford the Regulator, and in the Regulator’s plans to...
29 July 2020
Pressure points: Trustees and administrators prepare for what’s ahead: Ombudsman to see a rise in complaints due to Covid-19 (UK)
The Pensions Ombudsman recently published both its Corporate Plan 2020-2023 and Annual Report for 2019/2020, which reveal that the number of enquiries the Ombudsman received has significantly increased in the last year. In addition, the Ombudsman expects the number of complaints to “undoubtedly”...
03 July 2020
Pressure Points: Key actions checklists for trustees and sponsors of DB schemes (UK) - Updated
Current events related to Covid-19 and the related economic impact are raising a number of time critical issues that sponsors and trustees of defined benefit schemes need to address. To help with this, we have created checklists (based on our experience advising clients to date) which summarise the...
03 July 2020
People: Key actions checklists for trustees and employers of DC schemes (UK) - Updated
Current events related to Covid-19 and the related economic impact are raising a number of time critical pensions-related issues that employers with defined contribution (DC) schemes and trustees of such schemes need to address. To help with this, we have created checklists (based on our experience...
02 July 2020
Pressure points: Trustees beware – Changes to UK insolvency regime are now in force (UK)
The Corporate Insolvency and Governance Act 2020 received Royal Assent and is now in force. The Act contains the most far-reaching reforms to UK insolvency law in over 30 years. The Act has been introduced on an emergency basis in an attempt to ensure that otherwise financially viable companies...
01 July 2020
People: Job Retention Scheme and Pensions (UK)
The Coronavirus Job Retention Scheme ("CJRS"), opened for claims on 20 April. Originally due to end on 31 May, then 30 June, the Chancellor announced on 12 May that it will remain in place and available to all sectors through to the end of October 2020. New rules, which will apply from 1 July 2020...
01 June 2020
COVID-19: Pressure points: Workplace pensions – 4 cost saving steps for employers (UK)
As the economic impact of Covid-19 and the measures introduced to restrict its spread continues to be felt, many employers are inevitably looking for ways to reduce costs and preserve cash. As far as pensions are concerned, the primary focus to date has been on the scope for employers with defined...
20 May 2022
Issues in Contentious Insolvency Webinar Series
Liquidators are appointed whenever a company is wound up. Banks and other financial institutions often need to deal with liquidators. These interactions can range from (and can turn from) run-of-the-mill document/information requests, to something more contentious, high-profile and high-stake:...
19 May 2022
Do companies have a moral duty to self report to the SFO?
Although Amec Foster Wheeler’s corporate bribery settlement has not introduced any legal obligation to self-report wrongdoing to the Serious Fraud Office, the judgment does encourage companies to seriously consider their moral and ethical duties when deciding whether to do so, argue Herbert Smith...
18 May 2022
Australian Federal Election Workplace and Industrial Relations Survey: Back to the future?
In the lead up to the 2022 Australian Federal Election, our national team ran a series of feedback sessions and surveyed our national clients. The results of our 2022 Federal Election Workplace and Industrial Relations Survey are in.
12 May 2022
Half way to COP27: Are governments delivering on their climate promises?
We are excited to launch our latest report, Halfway to COP27 – a review of governments' ambitions and promises in respect of climate change, six months after the 2021 United Nations Climate Change Conference, commonly referred to as COP26, brought together 120 world leaders to discuss the issue.