The Department for Work and Pensions (DWP) has amended draft no-deal Brexit regulations to remove a provision which would have made pension scheme investments illegal.
An updated version of the regulations allows pension schemes to invest in EU-regulated markets, not just UK-regulated markets as initially planned. PA's sister title Professional Pensions revealed the previous iteration of the regulations would have left pension schemes only able to invest in UK-based recognised investment exchanges, such as the London Stock Exchange or London Metal Exchange. This would have disallowed investments via Dublin or Luxembourg, for example, and required schemes to reallocate assets if the UK crashes out of the union without a deal. A DWP spokesperson ha...
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