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At the end of August we reported
formal recognition by HM Treasury that the UK might not reach any agreement with the other 27 EU Member States on terms for Brexit by the twenty-ninth of March 2019, the end of the Article 50 withdrawal period. The Government has since published
a few more intentions in a no-deal scenario. The list
of draft statutory instruments that are subject to the affirmative procedure
includes two of particular relevance to pensions:
standards, as identified in the Schedule to the Regulations.
Additionally, the Financial Services and Markets Act 2000 and the Financial Services (Banking Reform) Act 2013 are amended to provide for the way in which the regulators are to exercise legislative functions of EU bodies which may be transferred to them under the Act.
HM Treasury has proposed the . . .
12 Oct 2018