Latest on Regulation & Reform – Page 269
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NewsReal estate managers 'running out of time' to adapt to AIFMD
EUROPE – Law firm says implementation of new Directive dogged by inconsistencies.
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Basic collective DC would not trigger 'massive' new burden
UK – Barnett Waddingham suggests collective model would be preferable to ‘DB-lite’ model.
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Holistic balance sheet for new IORP not 'dead-end street', EIOPA insists
EUROPE – Chairman defends ‘legitimacy’ of authority’s aim to ensure sustainability.
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Majority of Irish DB schemes fail to submit funding proposals
IRELAND – Social Protection figures show fewer than one-in-three met 30 June deadline.
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NewsESMA approves cross-border arrangements for alternative funds
EUROPE – Regulator signs agreements with authorities in Japan, Mexico and US.
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NewsBulgaria to investigate controversial Doverie deal 'if necessary'
BULGARIA – Unions, politicians question transparency of UK-based buyer United Capital.
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NewsUK talks up defined ambition in response to House of Lords ageing report
UK – Certainty of outcome more important than clarity on return estimates, government says.
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Irish airline scheme yet to submit formal funding proposal
IRELAND – Pensions Board letter rejecting preliminary proposal sent two weeks after deadline.
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Austrian pension reform 'best possible' given circumstances, watchdog says
AUSTRIA – Official concedes more reform needed at European level.
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NewsBulgarians criticise sale of pension fund to UK-based United Capital
EUROPE – Austrian insurance group VIG offloads 92% stake in largest Bulgarian scheme Doverie.
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NewsDenmark's Unipension sues dozen banks over CDS competition concerns
GLOBAL – ISDA, Markit named as defendants in suit claiming they 'unreasonably' restrained competition.
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NewsESMA consults on 'best candidates' for derivatives clearing
EUROPE – Watchdog publishes consultation on definitions that will inform regulatory standards.
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NewsUnions dismiss Irish leader's suggestion state should be pensions 'paymaster'
IRELAND – Taoiseach Enda Kenny suggests taxpayer could end up being paymaster for insolvent schemes.
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Dutch Cabinet unveils proposals for new financial assessment framework
NETHERLANDS – ABP claims proposed FTK will do little to help stabilise contributions or discount rate.
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NewsTPR stands by proposal for independent audit of UK master trusts
UK – Underlines importance of providers having 'durable' business models.
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NewsOFT questions prospect of DC funds achieving scale
UK – Outlines next stages of engagement, focusing on scale, charges and governance.
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Irish parliamentarians argue over 'blatant injustice' of priority order
IRELAND – Government seeks to shift blame to previous Fianna Fáil administration.
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Dutch notaries scheme 'seriously' considering merger
NETHERLANDS - Discussions come after repeated rights cuts, with further cuts possible.
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NewsCommunication should be tailor-made to each fund – Dutch Labour Foundation
NETHERLANDS – Foundation praises member communication of Rabobank and DSM schemes.
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NewsIndustry associations issue warning on impact of IORP pillars two, three
EUROPE – Group of nine associations says pillars could end up shrinking occupational pensions.
