Latest on Regulation & Reform – Page 141
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Country ReportCOVIP: The glass is half full
Despite its several ailments, the health of the Italian pension industry keeps improving
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NewsMP Pension lifts suspension of Macquarie after tax scandal
Australian bank was initially quarantined by the academics pension fund in October 2018 after it was linked to so-called Cum-Ex scandal
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Politician demands answers over regulator’s oversight of USS
Frank Field writes to the Pensions Regulator as dispute emerges between UK’s largest pension fund and a former trustee over valuation concerns
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NewsSwiss cabinet to form sustainable finance working group
Assessments by inter-departmental working group to inform decisions about potential financial market regulation
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NewsUK regulator sets out climate change investment guidance for DC schemes
TPR also urges trustees to consider the liquidity requirements of their members as spotlight falls on daily dealing investment funds
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NewsNetherlands roundup: Parliament demands cost review of new pensions system
Also: €857m company pension scheme plans to consolidate into a general pension fund, posing problem for administration provider
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NewsSchroders flags tipping point for action on climate change
Cost-benefit equation seen as increasingly in favour of policy action to support move away from fossil fuels
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Funds invested in illiquid assets are ‘built on a lie’: Mark Carney [updated]
Bank of England governor warns of ‘potential developing systemic issue’ regarding funds promising daily liquidity while investing in illiquid markets
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ESMA consults on short-termism in financial markets
Answers to questionnaire will inform watchdog’s report to the European Commission and feed into sustainable finance work
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Swiss pension vehicles secure greater investment flexibility
New rules coming into effect in August will expand investment foundations’ opportunities, including higher equity allocations and access to alternative assets
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Regulator voices ‘real concerns’ over small DC schemes
Charles Counsell comments on consolidation, defined contribution and risk management in his first speech after taking over as chief executive of the UK’s Pensions Regulator
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Dutch sector fears delay in finalising pensions agreement
Large majority of conference attendees expect that a deadline of December 2020 for fleshing out this month’s pensions agreement will not be met
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Dutch pension system ‘in peril if interest rates remain low’, says minister
The government plans to address how low interest rates have affected the capital-funded system in a forthcoming ‘road map’ for pensions reform
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NewsDanish ‘wise men’ call for expansion of pension reform plans
Four academics have said a planned pension commission should have its remit expanded to address a number of issues within Denmark’s pension system
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Austria’s biggest pension fund ‘adds €1.5bn to economy’
Academic research shows economic impact of VBV Group’s investment activities; Survey shows dwindling faith in Austrian first pillar system
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NewsAccounting roundup: Committee warns on DB-DC ‘blurred lines’
Plus: FRC maps out its plan to transition to the Audit, Reporting and Governance Authority; Change to accounting rules for multi-employer pension schemes
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NewsAuto-enrolment success masks inadequate savings rates, industry warns
More people are saving into a pension in the UK following auto-enrolment, but the amount they are saving is far short of what is needed
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NewsUK public sector schemes caught in consultant rule change
LGPS funds will be subject to new rules regarding the monitoring of investment consultants and fiduciary managers from December, having previously been exempt
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UK regulator seeks to stem flow of exits from DB schemes
Financial Conduct Authority says too much financial advice related to transfers is ‘still not of an acceptable standard’
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Expert group releases climate taxonomy proposal
EC publishes guidelines for corporate reporting of climate-related information alongside three expert group reports on big day for the Commission’s sustainable finance plan
