Latest on Regulation & Reform – Page 271
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NewsUnited Capital moves to quell growing disquiet over Doverie deal
EUROPE – Asset manager aims to 'strengthen ties' in Bulgaria, keep on current CEO.
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Polish pensions industry battles to save second-pillar system
POLAND – IGTE supports modernisation, but opposes de facto ‘liquidation’ of second pillar.
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NewsContract schemes' governance boards risk being 'cosmetic' – TUC
UK – Union umbrella group warns badly-executed policy could lead to 'veneer of governance' without real change.
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NewsVAT exemption could apply to UK schemes after ECJ ruling – expert
EUROPE – Schemes could reclaim tax on day-to-day operations, management of investments.
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News'Comply or explain' urged for manager research on long-term investing
UK – MPs suggest regulator should clarify amount to be spent on stewardship-related research.
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NewsSwitzerland investigates 'hidden PAYG elements' in second pillar
SWITZERLAND – Government tenders another study on impact of country's high conversion rate.
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NewsINVERCO suggests Spain will embrace 'some form of auto-enrolment'
SPAIN – Government set to unveil possible reforms for second-pillar pension system.
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NewsSpanish government taps into Social Security Reserve Fund
SPAIN – Country's pension fund association says move is 'nothing abnormal'.
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NewsLehman trustees welcome Supreme Court ruling on 'financial support directions'
UK – Supreme Court ruling overturns previous verdict from Court of Appeals.
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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.
