| 1 | FSMA overview An overview of the Financial Services and Markets Act 2000 (FSMA). | Practice note: overview | Maintained |
| 2 | Hot topics: EMIR EMIR (the Regulation on OTC derivative transactions, central counterparties (CCPs) and trade repositories (Regulation 648/2012)) imposes a number of requirements on counterparties to derivative contracts, central counterparties and trade repositories Its effects are far reaching and significantly impact on the EU derivatives markets. | Practice note: overview | Maintained |
| 3 | New UK financial services regulatory structure: a quick guide A quick guide to the changes to the UK financial services regulatory structure made by the Financial Services Act 2012. On 1 April 2013, the FSA was abolished and the majority of its functions transferred to two new regulators: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). On the same date, the Bank of England (BoE) took over the FSA's responsibilities for financial market infrastructures and the Financial Policy Committee (FPC) was established on a statutory basis. For an index of PLC's resources on the new regulatory structure, see A guide to the new UK financial services regulatory structure: index. This is one of a series of quick guides: see Quick guides. | Practice note: overview | Maintained |
| 4 | Pension trustee investment powers and duties: a quick guide The main points relating to investment of scheme assets by pension trustees, summarising the powers and duties arising under scheme rules, general trust law and legislation. For links to our range of more detailed practice notes on the topics covered, see the further reading section. | Practice note: overview | Maintained |
| 5 | Scheme-specific funding: a quick guide to the process and ... A condensed guide for practitioners advising on the funding process. This guide summarizes the stages and key parties involved in the scheme-specific funding process. | Practice note: overview | Maintained |
| 6 | Actuarial valuations: key points for pensions lawyers Defined benefit pension schemes are required by the Pensions Act 2004 to comply with the statutory funding objective. A key part of this is the scheme's actuarial valuation. Although prepared by the scheme actuary, it is important for the scheme lawyer to be aware of the methods and assumptions on which the valuation is based. This note examines the key elements that the actuary considers in carrying out the valuation and a summary of the process used to produce the final document. | Practice notes | Maintained |
| 7 | Asset-backed pension contributions: overview This overview note explains the legal background to the implementation of an asset-backed funding structure, which can be used by trustees and employers of occupational pension schemes to use assets as an alternative to cash funding. | Practice notes | Maintained |
| 8 | Auto-enrolment: the default option in DC pension schemes: a ... The main points arising from the DWP guidance issued in May 2011 in relation to the default option in DC schemes used for auto-enrolment. | Practice notes | Maintained |
| 9 | Contingent assets: recent market practice This note sets out some illustrative examples where employers have used contingent assets towards their funding obligations or for the purposes of reducing the risk-based levies payable to the Pension Protection Fund (PPF). | Practice notes | Maintained |
| 10 | EMIR: requirement to clear OTC derivative contracts through a ... EMIR (the Regulation on OTC derivatives, central counterparties and trade repositories) (Regulation 648/2012) requires certain classes of over-the-counter (OTC) derivatives contracts to be cleared through a central counterparty (CCP). The requirement will have a significant impact on a large number of counterparties that engage in derivatives trading, including both regulated and unregulated entities. This note considers the scope and implications of the EMIR clearing requirements. For an overview of EMIR and timing of its implementation see Practice note, Hot topics: EMIR. | Practice notes | Maintained |
| 11 | Hard times: pensions implications of the ongoing financial ... This note highlights the continuing implications of the harsh financial climate in 2010 for defined benefit and defined contribution pension schemes. It considers the practical steps that trustees and employers may take in dealing with the legal and regulatory issues arising, with links to related information. | Practice notes | 25-Feb-2010 |
| 12 | How schemes can reduce their risk-based levy A guide to steps pension trustees and employers can take to reduce their scheme's risk-based levy. | Practice notes | Maintained |
| 13 | Institutional investors: information as to exercise of voting ... A note outlining the provisions that have given the Secretary of State or the Treasury power to make regulations requiring institutional investors to provide information about the exercise of their voting rights under the Companies Act 2006 (2006 Act). For general background to the 2006 Act, see Practice note, Companies Act 2006: materials. Sections 1277 to 1280 in Part 44 of the 2006 Act came into force on 1 October 2008. | Practice notes | 01-Oct-2008 |
| 14 | Investing for pension schemes: a glossary of assets and ways ... From equities and gilts to different types of derivatives, this practice note provides an introduction to the assets that pension schemes typically invest in and the ways of investing in them. The note also explains some of the terminology and concepts that trustees and practitioners face in the context of investing pension scheme assets. | Practice notes | Maintained |
| 15 | Investing for pension schemes: a guide to the parties and ... This practice note provides a guide to the role of advisers and other parties which trustees of occupational pension schemes may have to engage or liaise with when investing scheme assets. | Practice notes | Maintained |
| 16 | Investment issues in DC pension schemes This note considers the issues arising for trustees and employers in relation to investment of assets in defined contribution pension schemes, including how to define responsibilities, managing delegation, dealing with member investment choice and default funds, communications, decumulation and the importance of employer engagement. These issues are becoming all the more important in the light of auto-enrolment. Trust and contract-based schemes are covered and compared, highlighting the key aspects of the legal and regulatory investment regimes and summarising the relevant best practice guidelines. | Practice notes | Maintained |
| 17 | Key topics citator A "reverse" citator setting out the main legislative provisions, regulatory materials, leading cases and determinations of the Pensions Ombudsman for some key topics in occupational pensions. Links are also included to the main PLC Pensions materials available for each topic. | Practice notes | Maintained |
| 18 | NAPF corporate governance policy and guidelines on voting An analysis of the NAPF corporate governance policy and voting guidelines which are designed to assist investors in interpreting the provisions of the UK Corporate Governance Code when assessing a company's compliance with it. This note covers the December 2012 version of the NAPF corporate governance policy and voting guidelines, published on 4 December 2012. | Practice notes | Maintained |
| 19 | Pension Protection Fund: contingent asset requirements This practice note summarises the requirements of the Pension Protection Fund (PPF) relating to the use of contingent assets to reduce a scheme's risk-based PPF levy. It explains why an employer might benefit from using contingent assets to fund its pension scheme, the different types of contingent assets recognised by the PPF and the formalities to be met when certifying (or recertifying) a contingent asset, including when a legal opinion will be needed. | Practice notes | Maintained |
| 20 | Pension Protection Fund: levies This practice note considers the different levies payable by eligible occupational pension schemes to the Pension Protection Fund in accordance with the requirements of the Pensions Act 2004. | Practice notes | Maintained |
| 21 | Pension scheme investment: trustees' duties This practice note considers the powers and duties of pension scheme trustees in relation to the investment of scheme assets. | Practice notes | Maintained |
| 22 | Reform of the IORP Directive: an overview This practice note considers the European Commission's review of the IORP Directive (2003/41/EC) and the implications of the proposals for pension schemes, employers and investors. | Practice notes | Maintained |
| 23 | Scheme-specific funding This practice note considers the funding regime for defined benefit pension schemes under the Pensions Act 2004. | Practice notes | Maintained |
| 24 | Scheme-specific funding:issues in practice This practice note examines some key practical issues facing trustees and employers in connection with the scheme-specific funding regime introduced by Part 3 of the Pensions Act 2004. | Practice notes | 25-Feb-2009 |
| 25 | Understanding pension scheme accounts: key points for ... This note considers the legal requirements for pension schemes to produce audited accounts and an annual report. It summarises the principal statements and information that must be included with the accounts and also provides an overview of the accounting principles that determine their format. | Practice notes | Maintained |
| 26 | Using contingent assets This practice note considers the circumstances in which salary-related pension schemes may use contingent assets towards the funding of the scheme. It looks at the various types of contingent asset and the role they can play in relation to pension schemes, highlighting issues for trustees and companies in each case. | Practice notes | Maintained |