News & Views

Pensions Expert Article: Investment governance rules – where are we now?

This article was published in Pensions Expert | July 29, 2022

Gowling WLG and IC Select specialists recap the legal fundamentals affecting trustees’ investment practices, before considering the importance of setting strategic investment objectives in order to comply with CMA and DWP rules.

The Department for Work and Pensions in June published its delayed response to the July 2019 consultation on the Competition and Markets Authority’s recommendations for trustee oversight of investment consultants and fiduciary managers.

Draft legislation was included, which, once brought into law in October, will add further force to what most, if not all, occupational pension scheme trustees should have been doing since December 2019 to comply with the CMA’s market investigation order.

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The authors were Laura Charles and Kevin Gude who are legal directors at Gowling WLG; and Donny Hay, a director and Peter Dorward the managing at IC Select.