Latest on Regulation & Reform – Page 138
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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
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NewsEC tenders studies to advance sustainable finance action plan
The European Commission wants to conduct studies looking into sustainability-related products and services, and the integration of ESG risks by EU banks
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ABN Amro scheme expects ‘limited effects’ from Brexit
The €29bn pension fund sees market volatility, declining sterling and the ability to settle transactions as big risks, and has analysed suppliers’ ability to continue through multiple Brexit scenarios
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Promoting sustainable finance won’t help save the planet: consultant
Portraying sustainable investments as making a significant contribution to sustainable development is ‘a fairytale’, says Frank Wettlauffer
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SEC proposes revised corporate disclosure rules
US regulator’s revamp is intended to make disclosures more readable for investors and simplify compliance to cut out ‘unnecessary costs and burdens’
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NewsUK MPs criticise government over handling of FRC chair appointment
Simon Dingemans is set to chair the Financial Reporting Council and its successor body – but politicians have expressed ‘frustration and dissatisfaction’ at the process
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NewsAccounting standards board approves changes to DB reporting methods
The IASB sought to address complaints that pensions accounting rules ‘often do not meet the primary objectives’ of accountants and analysts
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Irish regulator to raise scheme levies to meet cost of EU reporting rules
New reporting requirements brought in by EIOPA and ECB are due to come into force from December this year
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UK roundup: The best and worst industries for employer contributions
Also: The Pensions Regulator authorises DC master trusts run by Aon and Railpen
