Publication
Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
United Kingdom | Publication | November 2024
On October 29, 2024, the PPF published a response to its March 2024 consultation, confirming that it would proceed with its proposal to give actuaries the option of using a bespoke discount rate assumption in s. 143 valuations of smaller pension schemes.
This addresses the PPF’s concern that its standard assumptions could lead to marginally overfunded smaller schemes being unable to obtain affordable buyout quotations for PPF levels of compensation.
The bespoke discount rate easement is due to apply to schemes with liabilities of £50 million or less. The changes will apply to valuations under ss. 143, 152 and 158 Pensions Act 2004 with effective dates on or after May 31, 2024. No changes are being made in relation to s. 179 valuations.
Publication
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Publication
Canada and the European Union signed a Security and Defence Partnership (SDP), which formalizes a mutual intent to foster closer ties by establishing a framework for dialogue and cooperation across the full security and defence spectrum.
Publication
The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is now half way through its first phase of compliance, while the supporting regulatory frameworks constituting the building blocks for the CORSIA and Article 6 markets are incrementally being cemented in place and the market is developing fair mechanisms for managing key gap risks.
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