|Name of Notice||Financial Markets Conduct (Restricted Schemes-Disclosure and Reporting) Exemption Notice 2022|
|Gazette Notification Date||2022-08-12|
|Date In Force||2022-08-31|
|Act||Financial Markets Conduct|
Summary: The Financial Markets Conduct (Restricted Schemes - Disclosure and Reporting) Exemption Notice 2022 (Notice) exempts certain defined benefit restricted schemes in respect of annual fund updates and confirmation information, and all restricted schemes in respect of certain quarterly reporting requirements in the Financial Markets Conduct Regulations 2014 (the Regulations). The reasons for the exemptions are set out in the Notice.
The main effects of the Notice are to grant five-year exemptions for:
The first and third exemptions are subject to conditions that set out alternative requirements to ensure more appropriate and meaningful information is provided to defined benefit restricted scheme members.