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GLOSSARY

Derisking definition

Published by a LexisNexis Pensions expert

What does Derisking mean?

The process of buying investments more suited to the liabilities of the pension fund which reduces the risk of (for example) volatility of the price of investments, or of the changes in longevity. Total derisking can involve a ‘buy-out’.

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De-risking—managing money laundering risk in financial services

De-risking—managing money laundering risk in financial services This Practice Note provides an overview of de-risking in the context of financial services firms’ anti-money laundering (AML) and counter-terrorist financing (CTF) efforts. It examines the key sectors and customers impacted, outlines the relevant legal and regulatory requirements, including the overlay with the Financial Conduct Authority’s (FCA) Consumer Duty, and discusses the FCA’s expectations and focus. It also considers legal and regulatory initiatives aimed at addressing de-risking, including the FCA’s review of bank account closures, its review of the treatment of domestic Politically Exposed Persons (PEPs) and statutory amendments relating to domestic PEPs in the Money Laundering and Terrorist Financing (Amendment) Regulations 2023, SI 2023/1371. Key points Key points are as follows: • the UK legislative and regulatory framework requires FCA authorised firms and firms registered with the FCA for supervision under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs) to adopt a risk-based approach to identify, assess and manage ML/TF risk •...

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