Latest on Regulation & Reform – Page 283
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NewsBrussels failing to recognise 'social aspect' of IORP Directive
EUROPE – Commission 'mistakenly' concludes IORP relates to internal market only, AEIP says.
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NewsGermany to allow pension-asset pooling for first time
GERMANY – Consultants talk up potential for new investment vehicle after change in tax laws.
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UK roundup: PPF on deficits, DWP on auto-enrolment
UK – Defined benefit funding improves to best level since November 2011.
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NewsIrish report presents 'misleading view' of pension charges
IRELAND – IAPF says report ignores benefits of occupational pension funds.
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NewsESMA unveils guidelines on pay for alternative fund managers
EUROPE – Alternative investment fund managers must introduce 'sound, prudent' remuneration policies.
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NewsQuantitative impact study for revised IORP Directive a 'complete failure'
EUROPE – German pension fund association VFPK says QIS contains 'grave technical mistakes'.
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NewsParliamentary report calls for 'urgent' removal of NEST restrictions
UK – Lifting restrictions would create certainty ahead of SME staging dates, committee says.
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NewsHolistic balance sheet QIS 'too focused on capital requirements'
EUROPE – PensionsEurope urges Brussels to shift attention towards governance, transparency.
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NewsCCPs, asset managers oppose rehypothecation of securities
GLOBAL – No interest in rehypothecating pension funds' non-cash margin calls for derivatives trades.
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NewsUK roundup: 'Unlawful' Swansea, Rothesay Life, Massachusetts Mutual
UK – Swansea Council criticised for 'unlawful' transfer of assets owned by local pension funds.
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NewsDutch pensions giant ABP settles with Deutsche Bank over RMBS
GLOBAL – Claims against Goldman Sachs, Merrill Lynch, Credit Suisse and Morgan Stanley still pending.
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NewsBrussels releases early draft of Green Paper on long-term investing
EUROPE – European Commission mulling revisions to pension tax rules, corporate governance.
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NewsWebb questions need for indexation following end of contracting out
UK – Time may be ripe to scrap mandatory indexation, pensions minister says.
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NewsAIFMD must clarify 'day-to-day control' for real estate – INREV
EUROPE – Organisation urges ESMA to rethink guidelines on collective investment undertakings.
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NewsPensions discount-rate smoothing to produce no more than 'one-off gains'
UK – Academics outline new discount rate approach separate from mark to market.
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NewsAccounting rules could force pension funds to review hedging strategies
GLOBAL – Amendments to 'hypothetical derivatives' rules to affect cross-currency swaps.
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NewsBrussels should learn from failure of French Tobin tax – EDHEC
EUROPE – Institute warns financial transaction tax could actually increase volatility.
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NewsEU to examine 'barriers' to cross-border insurance pension products
EUROPE – Expert group to look into effect of contract law differences in various member states.
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NewsIrish finance minister calls on pension funds to consider infrastructure
IRELAND – Noonan highlights benefits of proposed Irish REITs to institutionals.
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NewsKazakhstan limits second-pillar pension fund investments
KAZAKHSTAN – Bank issues temporary restriction on asset classes compulsory schemes can invest in.
