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TGA shelves biosimilar and generic transparency measures
In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
United Kingdom | Publication | September 2023
On August 30, 2023, the FCA published a new webpage with information for firms on how to support vulnerable consumers when providing pension transfer advice.
The FCA reminds firms that when consumers seek advice about transferring DB or other pension benefits, they should be alert to potential indicators customers’ vulnerability as this may impact their decision making. Firms should create an environment where consumers feel they can disclose their needs and should provide suitable support.
The FCA sets out examples of possible circumstances that DB scheme members could be in, together with warning signs of when they may be more vulnerable to scams or fraud activity. It also highlights how the consumer duty raises the standards it expects of firms and includes new rules for the treatment of customers in vulnerable circumstances.
Firms should assess their approach to vulnerability for pension transfer customers and take the following steps:
In addition, the webpage outlines how firms can mitigate the risk of harm to vulnerable consumers and provides examples of good and poor outcomes in certain situations.
The FCA will continue to monitor how firms are meeting its expectations and take swift action where it sees malpractice.
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In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
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The Government of Ontario recently introduced the Strengthening Cyber Security and Building Trust in the Public Sector Act, 2024 (Bill 194) seeking to strengthen cybersecurity programs in the public sector and provide the groundwork for the responsible use of artificial intelligence (AI) among various public sector entities.
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On May 24 the Labour Party published an update to its proposals on employment law in “Labour’s Plan to Make Work Pay: Delivering A New Deal for Working People” (the Plan). Our review of the proposals included in the Green Paper which was initially published in 2021 can be found here. Should they win the election, the Labour Party has stated that it will introduce an Employment Bill within the first 100 days of being in power which will cover many of these issues.
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