Latest on Regulation & Reform – Page 350
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NewsFrance's proposed changes jeopardising AIFM directive, says Hewitt
EUROPE – Moves by the French government to change the Alternative Investment Fund Management (AIFM) directive are jeopardising the new regulation and could render it meaningless, Hewitt has warned.
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NewsDutch watchdog putting final touches on two-tier financial assessment framework
NETHERLANDS – A new dual-approach financial assessment framework (FTK) will offer Dutch pension funds the option of providing their participants either nominal security or arrangements that target a real coverage ratio but depend on market developments and longevity.
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NewsUK roundup: Hewitt Associates, Barnett Waddingham
UK – Hewitt Associates has warned of a new wave of benefit reviews, as pension schemes come to terms with regulations on pension tax relief and the switch to the consumer price index (CPI).
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NewsLuxembourg's Alfi supports creation of UCITS-backed European Retirement Plans
EUROPE – The Association of the Luxembourg Fund Industry (ALFI) has thrown its weight behind the creation of Officially Certified European Retirement Plans backed by UCITS investment funds.
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NewsGerman province to promote fund-based pensions
GERMANY – The German province of Hessen is aiming to increase the share of small and medium-sized enterprises in the second pillar by promoting fund-based pensions.
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NewsBelgian presidency to focus on European Systemic Risk Board, OTC derivatives
EUROPE – Belgium will focus its energies on implementing the European Systemic Risk Board (ESRB) and streamlining over-the-counter (OTC) derivatives regulation in the final months of its EU Council presidency.
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NewsBrussels: Outgoing deputy director-general Wright on the EU's future
EUROPE – If it's economic advancement you want, with sound return on investments, don't forget the importance of the social environment.
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News'Burdensome' PSV levy drives IBM Germany to set up Pensionsfond
GERMANY – IBM Germany is planning to set up a Pensionsfond to evade high pension solvency levies.
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NewsDutch regulator butts heads with Donner over insurers' credit risk
NETHERLANDS – Pension supervisor De Nederlandsche Bank (DNB) has contradicted social affairs minister Piet Hein Donner about the potential effect of credit risk posed by insurers to reinsured pension funds.
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NewsMost UK occupational schemes unsure if they will comply with auto-enrolment
UK – More than four of five UK companies have yet to check if their pension schemes qualify for auto-enrolment, according to figures released by Mercer.
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NewsIBEC calls on Irish government to revise 'draconian' funding rules
IRELAND – Business group IBEC has called on the Irish government to review "draconian" rules on minimum funding for defined benefit (DB) pension schemes.
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NewsBrussels: Lawmakers nearing final accord on AIFM directive?
EUROPE – Progress on the Alternative Investment Fund Management (AIFM) directive, the contentious package of legislation set to regulate hedge funds, private equity and commodity funds, could at last be entering the home straight, if agreement can be reached later today.
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NewsNAPF urges suspension of laws that could see trustees jailed
UK – Joanne Segars, chief executive of the National Association of Pension Funds (NAPF), has expressed concern at regulations that could see pension fund trustees jailed for up to two years, urging the government to suspend the new rules until all issues are addressed.
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NewsUK roundup: British Airways, USS, Stewardship Code, Mercer, Scottish Widows
UK – British Airways (BA) and Iberia have moved one step closer to a merger, after the Spanish airline's board of directors said it was satisfied with the recovery plan worked out between BA and its pension fund trustees.
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NewsEFAMA urges separate panel devoted to asset management for new EU supervisor
EUROPE – The director general of the European Fund and Asset Management Association (EFAMA) has called for the creation of a consultative panel for asset management matters, as part of a pan-European supervisory body recently agreed by the European Parliament.
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NewsGerman companies keeping workers in dark on pension schemes
GERMANY – The number of occupational pension schemes would be much higher in Germany if employees were better informed, according to a survey by the Institute for Management and Economic Research (IMWF).
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NewsBrussels blog: Corralling exposure to OTC risk
EUROPE – Steps to tame financial markets have been announced by the European Commission, which has introduced a consolidated position for the EU comprising new regulations to cover markets in derivatives.
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NewsDonner calls on IASB to accommodate Dutch pension arrangements
NETHERLANDS – Dutch social affairs minister Piet Hein Donner has asked that the International Accounting Standards Board's new accounting rules for listed companies take into account pension arrangements under which liabilities are not fully carried by the employer, but by an independent pension fund.
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NewsAIMA calls for 'proportionate' stance on hedge fund remuneration
GLOBAL – The Alternative Investment Management Association (AIMA) is set to meet with the UK Financial Services Authority (FSA) later this month to discuss remuneration for hedge funds.
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NewsNorthern Cyprus aims to increase retirement age from 50 to 60
CYPRUS – The Turkish Republic of Northern Cyprus is preparing for a pension reform over the coming months.
