Latest on Regulation & Reform – Page 142
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Asset management roundup: UK, China regulators agree stock connect programme
Plus: DWS to sell €2bn hedge fund business to Alma Capital; MFS signs Italian distribution agreement with Deutsche Bank
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Unions voice support for Dutch pensions agreement
The pensions sector can start implementing areas of the agreement after two of the Netherlands’ largest unions gave it their support
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Report recommends sweeping changes to AP7 strategy
Mats Langensjö calls for more diverse investment approach for €44bn first-pillar default fund in new report
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ESG ‘lacks market standards and best practice’: Austrian National Bank
OeNB treasurer sees ‘major differences’ in implementation of ESG strategies by providers as their use spreads across the region
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Dollar, yen appreciation behind Philips scheme’s 2.4% investment loss
Pension fund wants to maintain currency hedge but has halved the value of the position ‘for strategic reasons’
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Discount rate change to increase chances of pension cuts at Dutch schemes
Committee led by former finance minister Jeroen Dijsselbloem has recommended reducing both the ultimate forward rate and assumptions for returns
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NewsHow the EU’s sustainability taxonomy will work for investors
Criteria for sustainable activities drawn up by EU-appointed experts could help reduce costs and reputation risks
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Ireland toughens capitalisation rules for DC master trusts
DC master trusts must hold at least €100,000 in reserve regardless of size, according to new requirements published today by the Pensions Authority
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Mandatory tendering for fiduciary contracts becomes UK law
Pension scheme trustees must conduct a competitive tender for any new fiduciary contract covering 20% or more of assets
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Bosch’s cross-border plan thwarted by regulatory hurdles
Engineering company transfers Austrian pension plan to local provider after regulations prevent consolidation within German Pensionsfonds vehicle
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FCA to revisit UK illiquid asset rules after high-profile fund suspension
Trading in shares of the £4.3bn LF Woodford Equity Income fund was suspended last week following a wave of investor redemption requests
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NewsUK signs off further reporting requirements for pension funds
New regulations to implement SRD II require schemes to set out policy on asset manager contracts and agreements
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NewsNordic roundup: KLP sells out of Oslo Stock Exchange stake
Also: Norwegian lobby group backs long-term investing rule change; PKA reveals DKK1bn investment in Dutch green bond
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Romanian government eases grip on second-pillar system
Crippling capital requirements on providers have been defused significantly, and the industry sees a “chance for survival”
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Dutch pension sector cautiously positive about reform agreement
Low-funded schemes emphasise that danger of benefit cuts has not disappeared entirely despite this week’s progress
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NewsCorporate climate-related financial information ‘still insufficient’: TCFD
Task Force on Climate-related Financial Disclosures uses artificial intelligence to analyse effectiveness of disclosures on climate-related issues
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UK and Dutch regulators to increase co-operation ahead of Brexit
The agreement between the FCA and AFM is to apply in both a deal and no-deal Brexit scenario
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NewsDutch social partners and government reach agreement on retirement age
Underfunded schemes are temporarily off the hook after the minister for social affairs agreed to temporarily relax minimum funding rules
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High street chain agrees £310m pension funding deal with regulator
Arcadia, owned by Sir Philip Green, is attempting to cut its debt bill to stave off bankruptcy and has secured the support of the Pension Protection Fund
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NewsBlackRock cites auto-enrolment, UK’s NEST as model for French reform
Asset manager sets out a host of recommendations for pension saving reforms contained in the Pacte law, including auto-enrolment and pensions dashboards
