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Arbitration trends in the Middle East: What to expect in 2024 and beyond
The last several years have seen rapid growth in the Middle East.
United Kingdom | Publication | April 2024
The Pension Protection Fund is proposing that smaller schemes – those with liabilities of less than about £50 million – may be permitted to use bespoke discount rates in section 143, 152 and 158 valuations. The proposed change would apply to valuations with effective dates on or after May 31, 2024, and the consultation closes on May 6, 2024.
Under the proposals, a bespoke discount rate would need to be agreed with the PPF. The PPF believes that this approach will provide additional flexibility and the ability for section 143 valuations to "reflect the reality of buy-out quotations, while minimising disruption and additional burden on actuaries and the schemes they advise".
The PPF considers that its existing standard discount rate assumptions remain appropriate for larger schemes. Additionally, the bespoke approach will not be adopted in relation to section 179 valuations since assumptions that varied by scheme size would complicate levy calculations.
Publication
The last several years have seen rapid growth in the Middle East.
Publication
On May 14, 2024, Lena Haffner, Innovation Lead Germany at Norton Rose Fulbright, shared her insights on “How do you make a law firm AI ready?" at Legal Revolution 2024, one of Europe’s leading conferences in legal innovation and technology. Her lecture focused on developing a comprehensive roadmap for integrating AI into law firms, emphasizing the importance of developing a robust AI strategy and fostering an innovation-ready culture. Key topics covered in the lecture included strategic planning, skills development, multidisciplinary teamwork, and strong AI governance.
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