All articles by Jeremy Woolfe – Page 11
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NewsRegulatory pressure to invest in bonds could kill economy, says Belgium's Neyt
EUROPE – Europe is running the risk of "killing" its own economy by applying regulatory pressure on pension funds to make them invest in bonds, according to Philip Neyt, president of the Belgian Association of Pension Institutions.
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NewsBrussels: Outgoing deputy director-general Wright on the EU's future
EUROPE – If it's economic advancement you want, with sound return on investments, don't forget the importance of the social environment.
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NewsBrussels: Lawmakers nearing final accord on AIFM directive?
EUROPE – Progress on the Alternative Investment Fund Management (AIFM) directive, the contentious package of legislation set to regulate hedge funds, private equity and commodity funds, could at last be entering the home straight, if agreement can be reached later today.
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NewsEFAMA urges separate panel devoted to asset management for new EU supervisor
EUROPE – The director general of the European Fund and Asset Management Association (EFAMA) has called for the creation of a consultative panel for asset management matters, as part of a pan-European supervisory body recently agreed by the European Parliament.
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NewsBrussels blog: Corralling exposure to OTC risk
EUROPE – Steps to tame financial markets have been announced by the European Commission, which has introduced a consolidated position for the EU comprising new regulations to cover markets in derivatives.
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NewsUS, European pension groups join forces on IAS 19 feedback
EUROPE – Four pension associations in the US and Europe have confirmed they will respond jointly to the London-based International Accounting Standard Board's proposals for accounting rules for pensions under IAS19.
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NewsEuropean Council set to tackle member states' letter of protest
EUROPE – The European Council is expected to tackle the potentially contentious mid-summer letter of protest by nine EU member states against accounting practices for pension liabilities on 7 September.
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Opinion Pieces
The Commission hides its teeth
The authors of the European Commission’s policy paper, ‘Towards Adequate, Sustainable and Safe European Pension Systems’, are clearly aware that solving Europe’s pension challenge is a formidable task. Not only are there the oft-cited demographic problems and injustices to workers who move across national boundaries, but there is also the fragmented nature of member states’ legislative frameworks to consider.
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NewsEC Green Paper on pensions draws mixed reactions from industry
EUROPE – The European Commission has called for public consultation on how the EU can best support national efforts to ensure an "adequate, sustainable and safe" pension system.
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Opinion Pieces
Derivatives
Proposals for legislative measures on uncovered, or naked, short selling of securities and the trade in derivatives – two crucial areas in the EU’s wholesale upgrade of financial legislation post-financial crisis – are open to response from interested parties until 10 July.
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NewsEU reaches consensus on banker bonuses
EUROPE - Next week’s plenary session of the European Parliament is set to approve the EU’s latest version of the Capital Requirements Directive after an agreement yesterday following three-way talks in Brussels.
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NewsCEIOPS issues all clear in spring report
EUROPE – Equity volatility is expected to remain high, respresenting for a significant risk for pension funds, according to the Spring Financial Stability Report 2010 of the Frankfurt based Committee of European Insurance and Occupational Pensions (CEIOPS).
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NewsLeaked EC paper on national pensions calls for 'urgent' reform
EUROPE – A version of the European Commission's forthcoming policy paper on national pension schemes, which calls for "necessary and urgent" reform, was leaked earlier this week.
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EC consults on derivatives and naked shorting rules
EUROPE – The European Commission is asking interest groups for fast input on various points as it draws up its own proposals to regulate derivatives and naked shorting.
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Fischer drops hints on EC pension reform green paper
EUROPE – Further hints of the contents of the European Commission's forthcoming green paper on EU pension legislation were aired at a conference in Brussels yesterday.
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Amended EU directive targets risk in bank bonuses
EUROPE – A new version of the EU’s Capital Requirements Directive, due to be voted on this month, will place limitations on banks in relation to their remuneration packages, and could make them less risky as investments for pension funds.
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ECON revises proposed derivatives rules
EUROPE – The European Parliament’s Economic and Monetary Affairs Committee (ECON) today voted in favour of a compromise version of its proposed new legislation for over-the-counter (OTC) derivatives.
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Financial hubs to be replaced by 'spider web'
GLOBAL – A de-linking of emerging economies from dependence on the traditional financial market centres of New York and London is taking place and will develop further, delegates at the International Capital Markets Association annual meeting heard in Brussels last week.
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Opinion Pieces
Worse than it looks
The forthcoming loss of Jörgen Holmquist, director general, and David Wright, deputy director-general, two of the most senior and experienced officials from the European Commission’s division responsible for legislation for the banking, insurance, free movement of capital, pensions and capital reserves sectors is bad enough. But accusations that there is a shortage of personnel preparing a “crazy number of legislative initiatives” make the losses worse in this time of crisis.
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EU legislative machine failed - Berès
EUROPE – The EU’s current legislative programming procedure has been shown to be too cumbersome and in need of replacement, according to a draft report on the financial crisis.
