Latest on Regulation & Reform – Page 359
-
News
Swiss law protecting pensioners' benefits should be changed - Deprez
SWITZERLAND - The inclusion of pensioner benefits in recovery measures for underfunded pension funds was the subject of intense debate at an industry conference today.
-
News
US pensions file legal actions against Goldman Sachs
GLOBAL – Two US pension funds are among a number of plaintiffs filing class action lawsuits against Goldman Sachs in the wake of the US Securities and Exchange Commission's (SEC) decision to sue the company for fraud.
-
News
Threat of AIFM impasse as UK looks to hold firm
EUROPE - The European Parliament is facing an impasse over its proposed Alternative Investment Fund Managers (AIFM) Directive due to UK resistance, according to the rapporteur for the Economic and Monetary Affairs Committee (ECON).
-
News
IASB amendments sensible, say pension consultants
GLOBAL – Proposals for employers to account immediately for all estimated changes in the cost of providing defined benefit (DB) pension schemes have been cautiously welcomed by pension consultants.
-
News
Crisis causes delay for BiH second pillar
BOSNIA-HERZEGOVINA – Plans for the creation of a second pillar in Bosnia-Herzegovina (BiH) have been drawn up but the current economic situation will delay its implementation until at least 2011.
-
News
Third of EU workers would retire early for less
EUROPE – A third of workers in Europe would rather retire early and receive less income than continue working past the existing national retirement age, according to research by Aon Consulting.
-
News
JURI votes unanimously in favour of AIFM amendments
EUROPE – The European Parliament’s Legal Affairs Committee, otherwise known as JURI, has voted unanimously in favour of proposed amendments to the EU’s controversial Alternative Investment Fund Managers (AIFM) Directive.
-
News
Spain must tackle pension problems - Towers Watson
SPAIN – Attitudes to retirement in Spain and a lack of economic reform in the country could lead to a mirroring of Greece’s economic problems, according to Towers Watson.
-
News
Valida argues for mandatory second pillar
AUSTRIA – Andreas Zakostelsky, head of Valida, is convinced that a mandatory second pillar would increase participation in Austrian occupational pension funds from its current level of 20% to 80% by 2020.
-
News
JURI to vote on AIFM amendments
EUROPE - Further changes to the EU’s Alternative Investment Fund Managers (AIFM) Directive are today being aired in Brussels by the Legal Affairs Committee in the European Parliament.
-
News
WPV defends Versorgungswerke
GERMANY – Calls to integrate the funded first-pillar pension professional schemes into the state retirement provision would harm the system, says Hans-Wilhelm Korfmacher, managing director of WPV, the Dusselfdorf-based scheme for accountants.
-
News
NAPF says new Stewardship Code should avoid ‘tick box’ exercise
UK – Two more heavyweight institutions have joined the numbers warning that the Financial Reporting Council (FRC) should take care in designing the practical workings of its new Stewardship Code for institutional investors.
-
News
UK trustees say they should be paid
UK – Close to two-thirds (62%) of UK occupational pension fund trustees believe they should be paid because of ever-increasing pensions expertise requirements, according to an independent survey.
-
News
VB questions real cover ratio and ‘soft’ pension rights
NETHERLANDS - The Association of Industry-wide Pension Funds (VB) has expressed serious doubts about the introduction of more conditional rights for pensions members and questioned the use of the real cover ratio as a benchmark for a scheme’s health.
-
NewsIASB's defined benefits exposure draft still expected this month
GLOBAL – An Exposure Draft (ED) on the recognition and disclosure of changes in defined benefit pension scheme obligations has been scheduled for publication by the International Accounting Standards Board (IASB) this month.
-
News
DC governance needs to develop globally - State Street
GLOBAL – State Street has claimed defined contribution (DC) regulations and fiduciary oversight need to develop in a global rather than national context as the shift from defined benefit (DB) to DC continues.
-
NewsZurich prosecutor confirms investigation into UBS
SWITZERLAND – The department for financial crime of the Zurich public prosecution office has started preliminary research into the Swiss bank UBS, a spokesman for the prosecutor confirmed to IPE.
-
News
Serbian second pillar pensions on hold indefinitely
SERBIA – Neither the IMF nor local market players now expect to see a Serbian funded second pillar happening under the current government, despite the earlier prospect of reform.
-
News
IMF tells Luxembourg it needs to reform pensions
LUXEMBOURG – The International Monetary Fund (IMF) has warned Luxembourg its continued fiscal stability requires substantial reforms of the pension system.
-
NewsBasel framework needs pension fund input - academic
EUROPE - An academic with specialist knowledge of financial regulation has advised MEPs to expand the Basel agreement and in future include pension funds among the groups of investors who should be consulted in a financial crisis long-term regulatory review.
