No-deal Brexit regulations to render scheme investments illegal

The Department for Work and Pensions (DWP) has issued revised regulations to enter into force on 29 March 2019 if the UK leaves the European Union without a deal. The draft Occupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018 would require schemes to invest predominately in "UK regulated markets" rather than the current "regulated markets" more generally. While it seems like a technical change to recognise Britain's changed place in the world, the impact could be more significant as the way the two are defined are not analogous. Simply, a "regulated...