Publication
How the new Building Canada Act works
On June 26, Bill C-5, the One Canadian Economy Act, received royal assent. The One Canadian Economy Act introduces two pieces of legislation aimed at bolstering economic development in Canada.
Pensions aspects of the Draft Securitisation Regulations 2023
United Kingdom | Publication | July 2023
On July 11, 2023, HM Treasury (HMT) published a near-final version of the Securitisation Regulations 2023 (Draft Regulations), together with a policy note. The Draft Regulations will the retained version of the EU Securitisation Regulation retained in UK law after Brexit.
In relation to occupational pension schemes, the Draft Regulations restate and amend due diligence requirements for trustees or managers of occupational pension schemes when they invest in securitisations directly. The Draft Regulations also clarify issues relating to liability where scheme responsibilities are delegated. The pensions-related rules are being enacted in legislation because, in contrast to the FCA and Prudential Regulation Authority (PRA), the Regulator does not have power to make binding rules.
New regulation 42 will impose duties on the Regulator to maintain arrangements enabling it to determine whether trustees or managers are complying with the due diligence requirements and enforcing compliance where necessary.
The Regulator's responsibility for supervising compliance with the requirements applying under the UK Securitisation Regulation is being transferred to the FCA.
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Publication
Real estate focus: June 2025
In this edition we report on the Law Commission’s interim statement on 1954 Act reform following its two November consultations. We then examine the facts, judgments and implications of 3 recent cases: Emily Colville comments on the progress of a case determining whether or not a roof top garden should be considered a “storey” for the purposes of the Building Safety Act 2022.
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