Latest on Regulation & Reform – Page 157
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News
GAM forced to halt dealing for €6.3bn bond funds after redemptions spike [updated]
Clients began pulling money out earlier this week after the suspension of fund manager Tim Haywood
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Date with destiny? Schemes mull ‘Brexit day’ valuations
Some UK funds are considering changing the date of formal valuations – but advisers are split on the benefits
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Brexit fuelling rapid increase in cross-border strategies, survey finds
State Street reports that more than half of 250 asset managers polled are reshaping their distribution strategies
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German longevity data adds €10bn to Direktzusage liabilities
First update since 2005 expected to increase liabilities by 1% for companies paying pensions direct from balance sheets
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UK government urged to develop ‘responsible investing framework’
Aon also warns against wording of government’s proposal to take members’ views into account regarding investment decisions
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Regulator sets out model for UK master trust authorisation
Multi-employer DC schemes will have to obtain permission from TPR to operate from October
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Ireland eyes DC consolidation with master trust rule changes
Pensions Authority expects more master trusts in wake of IORP II
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NewsPoliticians issue fresh call for secondary annuities market
Idea to extend pension freedoms to annuity holders was discussed but rejected by government in 2016
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Leppälä appointed to EC high level pensions expert group
New body will provide policy advice to the European Commission
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NewsResearchers urge IASB to launch hybrid pension accounting project
Existing pension accounting rules hampering take-up of risk-sharing pension arrangements, consultants argue
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EIOPA unveils membership of next pensions stakeholder group
Beneficiary representation increased, sustainable finance and fintech expertise added
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Regulator hits out at Commission’s bid for powers to alter IFRS rules
Carve-ins would negatively affect mutual comparability of companies’ annual accounts, corporate governance body argues
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APG disbands derivatives counterparty arm [updated]
Pension fund clients including ABP and BpfBouw will take over derivatives management themselves
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Brexit: UK regulator warns on derivatives, reassures on passporting
Financial Conduct Authority lays out vision for transition from EU to UK rulebooks
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Consumer group issues stark capital protection warning over PEPP
Better Finance argues that without capital and inflation protection it will recommend investors avoid the PEPP
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NewsESG engagement proposals ‘neither practical nor purposeful’: PLSA
Proposed requirement for statement on approach to member views would risk ‘greater confusion’
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Country ReportAdvisers, fiduciaries respond to ‘softer stance’ from competition regulator
But some dispute the findings of adverse effects on market and customers from the CMA
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Country ReportUK schemes must tender fiduciary contracts, competition body says
CMA finds adverse effects on market competition in investment consulting and fiduciary management sectors
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News
Royal Mail CDC plan ‘could transform UK landscape’
Work and Pensions Select Committee calls for government to enable collective DC arrangements
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Accounting roundup: UK politician demands answers over BHS audit
Plus: Updated good practice guide for pension accounting; SIG faces investigation; FRC names firms under review
