The Securitisation Regulations 2024
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Change 1
32D Due-diligence requirements for occupational pension schemes: delegation of investment management decisions
(1) Paragraph (2) applies where— (a) the trustees or managers of an occupational pension scheme— (i) have given a relevant institutional investor (“the managing party”) authority to make investment management decisions that might expose the trustees or managers to a securitisation, and (ii) instruct the managing party to fulfil any of their obligations under regulations 32B and 32C in respect of any exposure to a securitisation arising from those decisions, and (b) the managing party fails to fulfil an obligation to which those instructions relate. (2) The trustees or managers of the occupational pension scheme are not to be regarded as responsible for the failure to comply with the obligation in question. (3) In this regulation “relevant institutional investor” means an institutional investor which is an authorised person.
32D Due-diligence requirements for occupational pension schemes: delegation of investment management decisions
(1) Paragraph (2) applies where— (a) the trustees or managers of an occupational pension scheme— (i) have given a relevant institutional investor (“the managing party”) authority to make investment management decisions that might expose the trustees or managers to a securitisation, and (ii) instruct the managing party to fulfil any of their obligations under regulations 32B and 32C in respect of any exposure to a securitisation arising from those decisions, and (b) the managing party fails to fulfil an obligation to which those instructions relate. (2) The trustees or managers of the occupational pension scheme are not to be regarded as responsible for the failure to comply with the obligation in question. (3) In this regulation “relevant institutional investor” means an institutional investor which is an authorised person.
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