Latest on Regulation & Reform – Page 143
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ESG roundup: LSE buys analytics provider Beyond Ratings
Also: Exclusions lead sustainable investment surge in Switzerland; EIOPA consults on climate change and Solvency II; UK minister says schemes ‘doing the right thing’ on climate change
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Dutch industry schemes combine DC accrual with collective benefits
Pension funds are ‘getting in lane’ for expected pensions reform, which could see individual DC accrual replace the Netherlands’ traditional model
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UK regulator adopts rules to boost stewardship transparency
New rules to implement revised Shareholder Rights Directive push asset managers to disclose engagement policy and explain contribution to long-term value
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Dutch government, unions reopen pension reform talks
Social affairs minister Wouter Koolmees offers to reopen negotiations from next week after two days of strike action across the Netherlands
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Irish pension funds voice ‘frustration’ at regulatory delays
Government ‘cannot take its foot off the gas’ over the summer if it is to succeed with ambitious reforms, IAPF says
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NewsChart of the Week: AP7 boosts share of Swedish DC system to record 42%
Government report shows AP4 has posted the best long-term annualised return among the four main state pension buffer funds
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NewsUncertainty persists over Ireland’s IORP II transposition
Minister says drafting of regulations is ‘at an advanced stage’ – but a judicial review filed by trustees means the timeline is still unclear
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FCA urged to investigate fund manager voting policy ‘market failure’ [updated]
Pensions minister tells ‘obstructive’ fund managers to shape up on corporate governance after trustee association files official complaint with UK regulator
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NewsSwiss authorities consider ban on pension broker commission
Pension fund association Asip has supported plans to overhaul the country’s rules on fees paid to brokers for promoting second-pillar funds
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NewsGerman Pensionskassen announce major cuts to reserves
Ailing Caritas and Kölner PK have agreed recovery terms with member representatives and the national financial regulator BaFin
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NewsStudy highlights imbalance between dividends and pension payments
LCP found that FTSE 100 companies paid £90bn to shareholders and just £13bn to pension funds in 2018
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NewsChart of the Week: Brexit helps Ireland hit record AUM
ETFs, Brexit transfers and market performance pushed Irish AUM to an all-time high of €2.64trn in the first quarter of 2019, according to new data
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Ex-regulator slams piling up of pension fund rules
A former head of pension fund supervision in the Netherlands has argued that risk reduction requirements for schemes are over the top and counter-productive
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Swiss voters approve €4bn recapitalisation of Geneva pension fund
A plan worth CHF4.4bn will take the Swiss canton’s public pension scheme to a funding level of 75%, but without a DB to DC shift
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NewsManagers urged to comply with new cost disclosure templates
Minister warns government could legislate to enforce new transparency codes if managers fail to adopt the templates voluntarily
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Swiss back top-up cash for state pension fund in referendum
Proposal, which was linked to corporate tax reform, foresees an extra CHF2bn (€1.8bn) annually for state pension plan from 2020
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UK regulator to expand scope and powers [updated]
The Pensions Regulator says it will take a greater interest in more pension schemes as part of its latest corporate strategy
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NewsFive banks hit with €1bn in fines after ‘banana split’ FX cartel uncovered
Barclays, the Royal Bank of Scotland, Citigroup, JPMorgan, UBS and MUFG Bank fined by European Commission over ‘Banana Split’ and ‘Essex Express’ cartels
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AnalysisAnalysis: Experts warn of bank stress test impact on covered bonds
ECB’s banking sector stress tests have caused concern among covered bond analysts over the potential impact on the attractiveness of the asset class
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NewsMaster trust authorisation process attracts 38 applications
The UK’s new regulatory regime for multi-employer defined contribution schemes has approved six providers so far
