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Bank Of England: Minutes Of The Productive Finance Working Group - March 2021 - The Second Technical Expert Group (TEG) Meeting

Bank Of England: Minutes Of The Productive Finance Working Group - March 2021 - The Second Technical Expert Group (TEG) Meeting Date Agenda 1. Competition law reminder by Simmons & Simmons LLP 2. Updates on and discussion of progress since the previous TEG meeting on solutions to the barriers to investment in less liquid assets 3. Agreeing next steps for delivering draft solutions for the second meeting of the Steering Committee (SC2) on 4 May Minutes Item 1 – Competition law reminder by Simmons & Simmons LLP Simmons & Simmons LLP set out the legal obligations of all members of the Working Group relating to competition law. They reminded members that it is their responsibility to meet their legal obligations and to take their own legal advice.

Warnings, further requests formulated over trustee climate risk duties

By Susanna Rust2021-03-12T12:42:00+00:00 Further pensions industry requests have been formulated of the UK government due to residual concerns about its proposals for climate risk reporting and governance requirements for occupational pension funds. This is according to feedback to a Department for Work and Pensions (DWP) consultation on draft regulations and statutory guidance, which it developed taking into account responses to its initial proposals on the topic in August last year.  Specific requests include that the DWP work with the financial markets regulator to ensure that “relevant levels of skills and climate knowledge are part of the authorisation regime for investment consultants and managers” – a point made by the Pensions & Lifetime Savings Association (PLSA) in its response to the consultation.

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