Regulatory Alerts2024-02-22
Prudential Standard 2024 – Regulation 28 Quarterly Reporting Requirements for Pension Funds
The Financial Sector Conduct Authority mandates pension funds to submit standardized quarterly reports detailing compliance with Regulation 28 investment limits, covering fund- and member-level asset allocations, foreign exposure caps, infrastructure, and ESG metrics. This Prudential Standard replaces previous reporting notices and requires funds to complete a prescribed template, with the initial submission due by September 2023 and subsequent reports filed within ninety days of each quarter-end. Funds undergoing approved liquidation or holding specific exemptions are exempted, while those exceeding prescribed asset caps must explicitly document non-compliance for relevant issuers and members.
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