HSBC, Santander Aim To Shield UK Pensions From Risk

Law360, London (January 26, 2018, 4:29 PM GMT) -- HSBC and Banco Santander's U.K. subsidiary both unveiled plans on Friday for shielding their British pensions schemes from risk under new "ring-fencing" laws taking effect in 2019.

A spokeswoman for Santander UK PLC confirmed that domestic pension savings would remain within the “ring-fenced” retail section, which the lender is required to create to comply with some of the most radical banking reforms introduced in Britain since the 2008 financial crisis.

“The Santander UK PLC pension scheme will continue to be sponsored by Santander UK PLC, the...
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