Latest on Regulation & Reform – Page 281
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![EU Court of Justice rejects pension funds' claim over VAT payments [updated]](https://d3ese01zxankcs.cloudfront.net/Pictures/100x67/7/7/9/43779_gavel+dark.jpg)
NewsEU Court of Justice rejects pension funds' claim over VAT payments [updated]
EUROPE – NAPF, Wheels Common Investment Fund lose case against UK HM Revenue & Customs.
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NewsUK increases local authority infrastructure threshold
UK – Local authority funds allowed to invest additional 15% in limited partnerships.
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NewsUK pensions minister calls for government-backed DC protection fund
UK – Fund could be best response to 'challenges' posed by private sector solvency requirements.
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NewsEIOPA to conduct stress test on impact of low interest rates
EUROPE – After focusing on insurers, authority to assess impact on occupational pensions this year.
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NewsCourt backs pension fund's claim in mortgage-backed securities lawsuit
GLOBAL – Royal Bank of Scotland, Deutsche Bank dealt blow by US Court of Appeals in Manhattan.
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NewsAPI cross-border pensions vehicle too focused on Dutch market, says Mercer
EUROPE – Consultancy cites 'relatively strict' Dutch supervision as potential deterrent.
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NewsLondon fund calls for end of 'prescriptive' investment rules
UK – Borough of Camden recommends prudential approach for local government pension schemes.
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NewsClearinghouse launches industry group to measure EMIR impact
EUROPE – CME Clearing Europe questions effect of Article 47.3 on pension funds.
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NewsNetherlands to replace 'multi-scheme' pensions vehicle with new API
NETHERLANDS – Complicated vehicle has been more than six years in the making.
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NewsBelgium opposes 'Solvency II-inspired' measures in revised IORP Directive
EUROPE – Country joins Germany, Ireland, Netherlands and UK in opposition to proposed measures.
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Changes to Czech law for third pillar leads to spike in new contracts
CZECH REPUBLIC – Number of pension plans grows by 12.5% year on year to more than 5.1m.
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UK roundup: State pension, contracting out, TUC, Aviva, NEST
UK – Union umbrella group warns against ‘unnecessary’ override.
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NewsUK pensions regulator needs more resources, not new objective – SPC
UK – TPR should not be 'forced' to consider additional statutory objective.
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NewsUSS calls for more flexibility in calculating scheme sustainability
UK – Accounting based around 'snapshot' of market should be given greater flexibility.
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NewsAustrian pension fund association demands exemption from FTT
EUROPE – FVPK rejects European Commission claim that impact on schemes will be 'extremely limited'.
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NewsEuropean Commission calls for tax reform to encourage active ageing
EUROPE – Modern tax, benefit system should 'incentivise' participation in labour market.
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NewsDutch adviser calls for tax on future pensions to cut government debt
EUROPE – Move would put government in better position to overhaul tax system, Yellowtail says.
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NewsPension funds doubt EMIR will reduce derivatives risk
EUROPE – Majority of respondents to Redington poll admit to being unprepared for legislation.
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NewsKazakh central bank to manage country's single pension fund
KAZAKHSTAN – Country's 11 previous funds meet president's one-month deadline to consolidate.
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NewsDanish FSA increases board expectations for pension funds
DENMARK – Regulator catches industry by surprise with board competence demands.
