Latest on Regulation & Reform – Page 270
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NewsDutch Senate passes Governance Act by slim margin after concessions
NETHERLANDS – New supervisory board RvT given right to hire and fire board members.
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NewsUK government agrees to lift restrictions on NEST in 2017
UK – Critics accuse government of caving in to special interests with delay.
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NewsHBS 'cannot work' and should be handled with care – AEIP
EUROPE – Association laments EIOPA's 'regrettable' lack of clarity on accounting approach.
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Ireland should back further pensions levy 'under no circumstances'
IRELAND – Employer group argues against new tax or extension of current levy.
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NewsNEST appoints Legal & General IM to direct real estate mandate
UK – UK scheme to allocate 20% of assets during growth period to asset class.
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NewsUK unveils 'tax-transparent funds' to rival UCITS-compliant vehicles
EUROPE – Funds to act as 'master feeder', allowing local investors to be taxed in home domicile.
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NewsPolitical threats overhang Czech, Polish pension systems
EUROPE – Second-pillar take-up a 'big disappointment' for all stakeholders involved.
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PPF benefit cap changes to add £140m to levy
UK – Increased cost, estimated through 2030, to be borne by those paying lifeboat scheme’s levy.
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NewsUK industry welcomes paper, but still wary of solvency issues
EUROPE – Anyone thinking solvency will be left alone must 'think again', Towers Watson warns.
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NewsNordic roundup: Finanstilynet 'overruled', Danica, AP Møller-Mærsk
EUROPE – Finanstilynet proposal on maximum interest rate used to calculate premiums overruled.
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EIOPA releases final report on HBS quantitative impact study
EUROPE – Authority also launches discussion paper on improved methodology to evaluate sponsor support.
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NewsDWP launches consultation on quality standards in DC market
UK – Says mandatory governance boards should consist largely of independent trustees.
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Pension funds lack 'right instruments' for long-term investing
EUROPE – EDHEC-Risk Institute response to EIOPA consultation highlight failures in policy.
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Irish finance minister dodges questions on future of NPRF
IRELAND – Minister uncler whether new strategic investment fund will pre-fund pension liabilities.
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NewsAIFMD joint-venture exclusion may extend to limited partnerships
EUROPE – Industry expert welcomes UK's 'pragmatic' approach to implementing directive.
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Denmark to create standard methodology for solvency requirements
DENMARK – New methodology ‘necessary’ to bridge longer gap until implementation of Solvency II.
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Pension Protection Fund 'big enough' to accommodate UK Coal liabilities
UK – UK Coal in talks with creditors following forced closure of major mine in March.
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JPMAM dismisses reintroduction of capital requirements for pension funds
EUROPE – Asset manager doubts Brussels will ever get past vote by EU Council of Ministers.
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NewsIORP could increase workload for managers of Spanish schemes
SPAIN – New responsibilities could alter way pension funds are managed, Deloitte warns.
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NewsUK mulls mandatory governance boards for contract schemes
UK – Department for Work & Pensions once again rules out single pensions regulator.
