Upcoming Events

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Upcoming events

    • 26 Oct 2021
    • 12:00 PM - 1:00 PM
    • Virtual via Zoom
    Register


    You are registering for one session.

    If you would like to register for the entire event series at a reduced rate,
    click here. 


     SCHEMING TO GET SCHEME ASSETS - CYBERSECURITY

    As retirement security becomes increasingly digital, there are more opportunities for theft of data and assets of retirement schemes. The panel will be comparing the regulatory framework around the requirements for protecting retirement schemes as well as discussing the intersecting trends in criminal activity and liability.

    Cybersecurity issues for retirement schemes continue to multiply with attacks becoming more common and legislators, regulators, and courts becoming increasingly active. The panel will focus on:

    • What is cybercrime and how does it impact pension schemes.
    • Guidance from regulators, including the UK’s Pensions Regulator’s April 2018 regulatory guidance, “Cyber security principles for pension schemes” and the US Department of Labor’s April 2021 tip sheets and best practices.
    • Recent developments in Canada and Australia.
    • Litigation developments, including recent cases in each jurisdiction where scheme assets have been stolen.

    The panel will discuss how a number of these issues are or are not dealt with in the legal and tax laws in their respective jurisdictions, including some of these recent developments. In particular:

    • Whether there are clear rules in each jurisdiction
    • Constraints imposed due to participant need to access information and assets
    • Who bears the risk of loss when cybercrimes occur
    • Similarities in processes for protecting against cybercrime
    • Differences in processes across jurisdictions
    • To what extent are regulators or legislators currently active in developing clearer rules
    • The role of insurance


    MODERATOR: Kevin Walsh, Groom Law Group, Chartered, USA
    PANELISTS: Andrea Boctor, Osler, Hoskin & Harcourt LLP, Canada, George Sepsakos, Groom Law Group, Chartered, USA


    • 07 Dec 2021
    • 12:00 PM - 1:00 PM
    • Virtual via Zoom
    Register


    You are registering for one session.

    If you would like to register for the entire event series at a reduced rate,
    click here. 


    LEGAL DEVELOPMENTS IN LDI PENSION PLAN INVESTMENT STRATEGIES AND BUYING OUT DB PLAN BENEFITS

    The panel will discuss the legal issues that arise out of liability driven investment strategies and  buy-in and buy-out annuity and longevity swap transactions in their respective jurisdictions, including:

    • Some key considerations in implementing a pension plan LDI investment strategy.
    • Whether longevity swaps are regulated as insurance or can be regulated as a capital markets transaction.
    • Some practical issues in managing the legal aspects of a buy-in or buy-out transaction.
    • Managing credit risk on the insurance company on buy-in annuity policies and what types of collateral arrangements can be put in place to protect against insurance company insolvency.
    • Issues raised by partial buyouts and fairness of treatment between the members being bought out and the members being retained in the pension plan.
    • Issues over obtaining a good discharge for the pension plan and the plan sponsor, in relation to buy out policies.

    The following are some recent examples of transactions in this area which you may not know about:

    • Canada: C$ 1.8 billion buy out of General Motors Canada pension plan pre June 2020 retirees liabilities. Read more here. 
    • UK: pension buy-outs and buy-ins and longevity swaps forecast to exceed £55 billion in the UK in 2021. Read more here
    • the US: are buy-outs of DB pension plan obligations cheaper than paying them from the plan. Read more here.

    MODERATOR: Susan Nickerson, Torys LLP, Canada 

    PANELISTS: Hugh Kerr, Canada, Charles Magoffin, Freshfields Bruckhaus Deringer, UK, Izzy Goldowitz, The Wagner Law Group, USA


    • 28 May 2022
    • (WEDT)
    • 01 Jun 2022
    • (WEDT)
    • Amsterdam

    Registration details coming soon!


   
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