Latest on Regulation & Reform – Page 298
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NewsEuropean associations predict HBS will result in 'pseudo' security
EUROPE – EIOPA stakeholder group warn of increased model-risk in QIS calculations.
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NewsDutch Fortis, ABN Amro schemes agree merger
NETHERLANDS – Schemes agree merger 'in principle' following bank merger in 2010.
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NewsSlovakia set to lower second pillar contributions, backtrack on reforms
SLOVAKIA – Re-elected prime minister to overturn predecessor's abolition of guaranteed pensions.
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UK industry critical of 'tight' timetable, 'narrow' scope for QIS
UK – Responses also criticise ‘impossible’ task given to EIOPA, absence of detail in consultation.
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Mercer echoes calls for PPF levy cap in UK
UK – Consultancy calls on government to prevent an expected 25% increase in charges.
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NewsBrussels set to postpone implementation of EMIR to achieve 'global' approach
EUROPE - European regulators urge EC to wait on changes to EMIR to coincide with global regulation.
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NewsETF guidelines will see investors reclaim securities lending profits
EUROPE - ESMA guidelines should lead to greater transparency, increase management fees, says EDHEC.
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UK scheme agrees funding partnership with charity sponsor
UK – Sponsor uses contingent assets to fund £82m pension deficit in Waterways scheme.
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NewsContract-based DC 'fundamentally at odds' with auto-enrolment
UK – FairPensions report calls for fiduciary duty to expand beyond trust-based funds.
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NewsEFRP slams 'huge complexity' of holistic balance sheet in impact study response
EUROPE – Association says consultation was copied and pasted from Solvency II equivalent.
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NewsBrussels launches consultation on UCITS investment funds
EUROPE – European Commission to assess role of money market funds in management of liquidity.
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NewsGrowth of cross-border IORPs grinds to halt over last 12 months
EUROPE – After six registrations and six closures, overall number remains 84.
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News£40bn infrastructure guarantees could create 'radically new' financing
UK – KPMG positive about government guarantee scheme for 'nationally significant' infrastructure.
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NewsSolvency II could drive investors from BBB bonds, EDHEC warns
EUROPE – Cost requirements could outweigh anticipated returns, study concludes.
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NewsBrussels to welcome Kay recommendations on quarterly reporting – UKSIF
EUROPE – Ethical investment association says Kay Review an 'asset' to offer rest of world.
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NewsDutch government moots future issuance of inflation-linked bonds
NETHERLANDS – Treasury could issue long-duration ILBs if rates begin to rise.
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NewsUK business lobby calls for smoothed discount rate for pension funds
CBI director general says 'artificially high' deficits curbing business investment.
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Austria's Valida snaps up Siemens pension fund, severance pay assets
AUSTRIA - Austrian branch of technology giant sells more than €800m in company pension fund assets.
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NewsIrish government says lower management fees could offset pensions levy
Minister says outcome of asset management fee review will lead to overall reduction in scheme costs.
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NewsGerman asset management association defends GOEFs against AIFMD
EUROPE – Outlawing creation of new open-ended funds would 'work against' institutional investors.
