Member

Although the overall direction signalled in the original consultation remains largely intact, important new details and clarifications have emerged. Mandatory independent advisers to enhance fiduciary management oversight, the elevation of pools as principal providers of investment advice, and the retention of an ambitious deadline of March 2026 all mark a decisive shift in how the scheme will operate. I remain unconvinced that this deadline is readily achievable—I bet noble Lords have heard that—so I would welcome an assurance from the Minister that a phased implementation will be acceptable, provided that pools can demonstrate a clear and pragmatic transition plan.