Latest on Regulation & Reform – Page 269
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NewsTowers Watson warns of Solvency II impact on captive managers
EUROPE – Regulation could have 'serious' implications for managers writing employee-benefit risks.
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NewsEuropean Commission cancels assessment of IORP capital requirements
EUROPE – Second study, overseen by Commission's Joint Research Centre, also halted.
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NewsDefined ambition pensions could be 'distraction' for UK government
UK – TUC says DA agenda risks distracting DWP from work of improving defined contribution schemes.
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UK roundup: Guinness Peat, Coats, TPR, East Sussex Schroders Property
UK – Coats planning to double pension plan contributions in bid to tackle £100m deficit.
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NewsItaly exempts pension funds from financial transaction tax
ITALY – Schemes will need to meet number of government requirements before qualifying for exemption.
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NewsUnited Capital, VIG come to agreement over Doverie sale
BULGARIA – Regulators in Bulgaria, UK must still approve controversial takeover.
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Danish roundup: PKA, PensionDanmark, E Pihl & Son, F&P on taxation
DENMARK – PKA reorganises bond portfolio to soften impact of rising yields.
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NewsFrance unveils pensions reform, ignores European Commission
FRANCE – Government asks companies to finance special accounts for 'hardship conditions' at work.
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Ryanair sale of Aer Lingus stake opens door for resolution of pension impasse
IRELAND – UK Competition Commission orders Ryanair to offload 30% stake in competitor.
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NewsDutch pension funds invest 14% of assets locally – DNB survey
NETHERLANDS – Schemes have nearly €13bn invested in Dutch mortgages, regulator says.
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NewsFSB studies systemic risk caused by potential failure of pension funds
GLOBAL – Board does not rule out including pension schemes in 'to0-big-to fail' resolution.
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NewsNorwegian oil fund revokes exclusion of Israeli companies
NORWAY – Construction firm and holding company excluded in 2010 over Geneva Convention violation.
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NewsPolish securities sector comes out swinging against pension reform plan
POLAND – Organisation highly critical of government recommendations, focus on second pillar.
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Neighbouring UK councils consider £4bn pension fund merger
UK – Local authorities hopeful of support for plan that predates government merger consultation.
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NewsPension funds should 'come up with own credit-risk assessments' – BaFin
GERMANY – Financial institutions must not 'automatically rely' on ratings when evaluating solvency.
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NewsDutch giants APG, PGGM exploring possibility of future LIBOR claims
NETHERLANDS – APG describes probe as 'complex', concedes LIBOR-rigging may have benefitted business.
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NewsSwiss put insurers' second-pillar admin costs under microscope
SWITZERLAND – Study will be third in series commissioned by government on pension reform.
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NewsDanish pensions industry criticises government's corporate bond plan
DENMARK – F&P concerned pension companies will become 'car park for bad loans'.
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NewsLPFA chief executive Mike Taylor to retire
UK – Susan Martin takes over as interim CEO until successor appointed later this year.
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NewsBIS calls for feedback on longevity-risk transfer market
GLOBAL – Bank for International Settlements aims to avoid 'breakdown' in risk-transfer chain.
