Latest on Regulation & Reform – Page 290
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NewsEU parliament approves introduction of Tobin tax
EUROPE – Text must now be approved by European Council to initiate 'enhanced cooperation'.
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NewsOECD review to trigger 'major' pension reforms in Ireland
IRELAND – Minister for social protection pledges to amend wind-up order by first half of next year.
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NewsDutch regulator warns schemes over interest-rate increases
NETHERLANDS – DNB criticises pension funds for touting asset increases resulting from swaps.
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NewsEuropean Parliament to act on foundations by summer 2013
EUROPE – Sticking points include tax regimes, definition of 'public benefit'.
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NewsEIOPA launches consultation on technical standards for IORP Directive
EUROPE – National authorities to use standards when submitting information to EIOPA.
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NewsISDA criticises 'flawed' initial margin plan for derivatives trades
GLOBAL – International Swaps and Derivatives Association rejects notion plan will reduce risk.
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NewsIrish government planning to launch real estate investment trusts
IRELAND – Government, hoping to capitalise as market stabilises, announces plans for REIT.
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NewsECJ dismisses Brussels' pension tax complaint against Germany
EUROPE – Court says European Commission failed to provide sufficient evidence.
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NewsLegislation to lessen 'over-reliance' on ratings agencies passes hurdle
EUROPE – European Parliament, Council OK draft law to better regulate credit rating agencies.
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NewsAIFMD exemption for pension fund managers 'unlikely'
NETHERLANDS – Dutch exemption for firms acting solely for pension funds under scrutiny.
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NewsUK to allow REITs to invest in other REITs
UK – George Osborne's plans to change rules could facilitate pension fund joint ventures.
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NewsUK industry warns against rigidity of pensions smoothing
UK – Comments come after Treasury announces consultation on smoothing of pension liabilities.
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NewsIrish Budget lifts 'clouds of doubt' over pensions industry
IRELAND – Standard Fund Threshold nearly halved as government confirms pension levy to end in 2014.
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NewsESMA calls for 'two-way' margining approach for EMIR
EUROPE – Executive director says sell-side should also be obliged to exchange collateral.
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NewsAGI survey: euro-zone crisis is investors' top concern
EUROPE – Impact of central bank policy on returns comes distant second in survey.
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NewsUK government to consult on discount rate smoothing for pensions
UK – Autumn Statement also sees plan to examine new statutory objective for Pensions Regulator.
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NewsEU, Switzerland sign accord on oversight of alternative funds
EUROPE – Brussels now looking to sign similar agreements with non-EU authorities.
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NewsAuto-enrolment economies of scale 'a must', TPR says
UK – Regulator chairman says auto-enrolled employees should benefit from scale, lower costs.
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Brussels planning to 'water down' IORP capital requirements
EUROPE – But EIOPA stakeholder group member questions practicality of revisions this late in game.
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Dutch roundup: Sponsor refunds, PostNL, ING
NETHERLANDS – Government rules out probe into pension fund refunds to sponsor companies.
