Reserved Investor Fund
In the Spring Budget 2024, the Government published its response to the consultation on the proposed introduction of an unauthorised co-ownership contractual scheme, the Reserved Investor Fund (RIF). AREF is delighted that the Government will begin to legislate for the RIF in the Spring 2024 Finance Bill. The Government is planning to engage further with stakeholders on the policy design for the RIF, particularly the tax rules.
Basel Committee - Disclosure of climate-related financial risks
AREF has responded to the consultation from the Basel Committee on Banking Supervision on the Disclosure of climate-related financial risks
2023 AREF GRESB Performance
AREF member funds outperformed the UK GRESB benchmark in 2023 by 3 percentage points with a score of 76%.
Transparency of land ownership involving trusts
The UK Government have consulted on improving transparency of land ownership when trusts are involved in the ownership structure. AREF responded to this consultation. More details can be found here.
FCA – Sustainability Disclosure Requirements (SDR) and investment labels
Find out more here about Sustainability Disclosure Requirements (SDR) and investment labels.
FCA - Guidance on the Anti-Greenwashing rule
AREF responded to the FCA's consultation on their guidance for their anti-greenwashing rule. More details can be found here.
Enabling DC pension schemes to invest in illiquid assets
Find out more here about the Government's work to enable DC pension schemes to invest in illiquid assets. Also, there are links to guidance from TPR and cases studies from PLSA which supports this and AREF's own lobbying to the Government on this matter.
Building Safety Levy
The Government are implementing a Building Safety Levy. Click here for more details.
ESG Metrics for Real Estate
The proposals within the paper on ESG Metrics for Real Estate have been updated in January 2024.
Sustainable finance and climate change disclosures
Find out more about the policy work being undertaken by governments, regulators and standard setting bodies in relation to sustainable finance and climate-related disclosures.
Construction Industry Scheme
In the Autumn Statement 2023, the Government set out legislative changes it will bring forward in the Finance Bill, coming into force from 6 April 2024, to reform the Construction Industry Scheme. AREF responded in January 2024 to a related technical consultation in January 2024. More details can be found here.
PRA - Reforms to Matching Adjustment
AREF, along with BPF, IPF and INREV responded to PRA consultation on reforms to the Matching Adjustment. More details can be found by clicking here.
UK Solvency II
Read the latest on reforms to UK Solvency II and the lobbying being undertaken by AREF.
Transition Plan Taskforce
The Transition Plan Taskforce are producing guidance for preparers and users of climate transition plans, including Asset Managers and Asset Owners. More details can be found her.
FSB - Addressing Structural Vulnerabilities from Liquidity Mismatch in Open-Ended Funds
The FSB published its Revised Policy Recommendations to Address Structural Vulnerabilities from Liquidity Mismatch in Open-Ended Funds in December 2023. These recommendations supersede Section 2 of the FSB’s 2017 Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities.
IOSCO - Guidance for Open-Ended Fund use of Anti-Dilution Liquidity Management Tools
In December 2023 IOSCO published its Guidance on Anti-Dilution Liquidity Management Tools.
ELTIFs
Find out more about the review of the ELTIF regulations here
Levelling-up and Regeneration Bill: reforms to national planning policy
The National Planning Policy Framework was updated in December 2023. This followed a Government consultation on reforms to national planning policy.