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GLOSSARY

AAF definition

Published by a LexisNexis Pensions expert

What does AAF mean?

Guidance issued by the ICAEW to reporting accountants on undertaking an assurance engagement and providing a report in relation to the internal controls of a service organisation, issued in June 2006 and revised subsequently (replacing FRAG21/94).

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The UK Stewardship Code

The UK Stewardship Code STOP PRESS: The Financial Reporting Council has published a statement on its intent to launch a review of the UK Stewardship Code. The review will look to determine whether the current UK Stewardship Code is being used by asset managers, asset owners and its other signatories in a manner that drives better stewardship outcomes from engagement with issuers across all asset classes. The revised UK Stewardship Code is expected to be published in 2025. For more information, see LNB News 27/02/2024 16 and LNB News 22/07/2024 31. The origins of the UK Stewardship Code lie in Sir David Walker’s final review of corporate governance in UK banks and other financial institutions, along with his final recommendations (Walker Review), published on 26 November 2009. The Walker Review was principally driven by a perception that corporate governance failures contributed to the financial crisis in the UK that began towards the end of 2008, and it recommended a number of changes to the UK corporate...

Part 26A restructuring plan deal debrief—Amicus Finance PLC (in administration)

Part 26A restructuring plan deal debrief—Amicus Finance PLC (in administration) The joint administrators of the Small to Medium Enterprise (SME) company, Amicus Finance PLC (in administration), applied for a Part 26A restructuring plan (RP) at a convening hearing and sanction hearing in August 2021. The key points appear below (capitalised terms not defined herein are as defined in the convening and sanction judgments). This Deal Debrief forms part of our Restructuring plans toolkit. For a detailed analysis of key metrics from the RPs filed in 2023 and commentary from leading lights in the restructuring world, see Practice Note: Market Insights Trend Report—trends in Part 26A restructuring plans in 2023. Name of plan company Amicus Finance PLC (in administration)(the Company) Industry sector Finance Place of debtor’s incorporation and jurisdictional factors England & Wales Timeline 20 December 2018: HGTL (as qualifying floating charge holder) appointed joint administrators over the Company.7 May 2021: Practice Statement Letter (PSL) circulated (and updated on 3 June 2021).7 June 2021: drafts of the Explanatory Statement and...

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TPR publishes final master trust supervision and enforcement policy

Pensions analysis: On 1 October 2018, the Pensions Regulator published its response to the consultation on a draft master trust supervision and enforcement policy, which sets out its approach to regulating master trust pension schemes. Alongside this, it published the finalised version of its supervision and enforcement policy, reflecting the feedback given by respondents to the consultation.

Pensions weekly highlights—26 July 2018

Welcome to the Pensions weekly highlights from the Pensions team. This week’s edition of Pensions highlights includes a review of key news stories, as well as dates for your diary, trackers and other useful information.

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