Latest on Regulation & Reform – Page 135
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NewsSwedish pensions lobby says new IORP II rules too close to Solvency II
The regulator has revised its timetable for the implementation of IORP II, pushing the deadline back to January 2020 – a year after it was supposed to come into force
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Dutch Pensions Federation clashes with regulator on governance overkill
Industry organisation fears ‘unnecessary and costly’ changes from De Nederlandsche Bank while it is dealing with serious funding problems
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NewsUK Law Commission calls for input on pooled fund voting laws
The Law Commission was asked by the UK government to carry out a study about the system of ‘intermediated securities’
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AP Funds take active role in bid to tackle money laundering
The Swedish state pension buffer funds’ Council on Ethics gathered major banks and regulators together to discuss recent scandals
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NewsNEST gets green light for authorisation from UK regulator
Five more auto-enrolment master trusts have been approved by The Pensions Regulator
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NewsSwiss pension funds facing negative discount rates
Company pension schemes may need to use negative rates to discount liabilities – mean obligations could rise by around 15%
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Pension freedom policy was rushed, says FCA chair
‘A major change of policy like this needs a substantial period of planning and testing so that all necessary safeguards are integrated before it is launched’
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AP1’s sacked CEO invested personally alongside fund’s IPO deal
Swedish buffer fund chief to receive €595,000 in salary over next 18 months
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NewsFrance expands scope for new pension vehicles in IORP II bill
Government calls on insurance sector to take up opportunity offered by FRPS vehicles and help make a success of the PACTE law’s retirement savings reform
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UK roundup: Drinks maker appoints Willis Towers Watson to DB scheme
Plus: Trustee company wound up after insolvency investigation found ‘numerous instances of misconduct’
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NewsFall in yields deals solvency blow to Danish pension providers
A change to liability calculations for Danish pension providers and insurers has had a significant impact on the companies’ solvency ratios
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Dutch Deliveroo workers covered by transport sector scheme, court rules
An Amsterdam court has ruled that takeaway meal delivery drivers are within the scope of the mandatory pension scheme Vervoer
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Dutch unions, employers seeking solution to avoid pension cuts
Unions and employers are attempting to come up with ways to make sure pension values can keep pace with inflation in the Netherlands’ new system
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SEC highlights proxy voting rules, guidance amid ESG debate
SEC provides guidance to fund managers about proxy voting responsibilities and to proxy advisory firms about anti-fraud rules
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One fifth of UK schemes in ‘weak’ position by TPR standards
Hymans Robertson analysis finds just 11% of schemes have a “strong” sponsor covenant, while one in five trustees has or expects to experience regulatory intervention
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Estonia set to overhaul €4.4bn second-pillar system
Coalition government’s decision follows similar moves in Poland and Romania to scale back second-pillar coverage
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Danish pension funds ban aggressive tax planning by external managers
ATP, Industriens, PensionDanmark and PFA have taken up a common stance on tax for assets run by third-parties in the wake of an international withholding tax scandal
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NewsDutch pensions reform ‘threatens healthy schemes’: SPH chair
Chairman of GPs’ pension scheme warns that sharing out funding surpluses among participants would be “unworkable and undesirable”
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ESG roundup: UK ‘economics of biodiversity’ review kicks into gear
Plus: The US Securities and Exchange Commission is to consider whether or not to publish guidance about the use of proxy advice in the shareholder voting process
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€2.2bn scheme tightens manager constraints after regulatory intervention
De Nederlandsche Bank stepped in to demand changes to Pensioenfonds Atos’ investment strategy and governance processes
