Latest on Regulation & Reform – Page 361
-
.jpg)
NewsAba pushes for separate pension supervisor
GERMANY – The German government has been urged by the country's occupational pension association (Aba) to create a separate entity for pension supervision.
-
NewsIASB changes fly in the face of harmonisation - LCP
GLOBAL – Proposed changes to the international pension accounting standard could unwittingly lead to a divergence between European and US accounting practices, according to Lane Clark & Peacock (LCP).
-
NewsEU Parliament postpones AIFM vote
EUROPE – The Economic and Monetary Affairs Committee (ECON) has agreed to postpone a vote on the Alternative Investment Fund Managers (AIFM) Directive for one week to allow time to consider legal opinions.
-
NewsUK roundup: UK election, Croydon, John Lewis, Freshfields
UK – The pensions industry in the has called for stability around government pensions policy in the wake of indecisive UK election results. Meanwhile Croydon is seeking actuarial and investment consultants, John Lewis has appointed a legal adviser, and Freshfields is closing its defined benefit (DB) scheme to future accrual.
-
NewsEC to publish corporate governance green paper
EUROPE – Michel Barnier, EU Commissioner for Internal Markets and Service, has confirmed that the Commission will publish a draft green paper on strengthening corporate governance at financial institutions later this month.
-
News
Finnish working group to examine future pension reform
FINLAND – The Finnish government and representatives from labour market organisations have agreed to extend the remit of the working group on the extension of working lives.
-
News
Irish ombudsman rejects Parc member complaints
IRELAND – Complaints from members of the Parc Group pension fund that the company failed in its "moral obligation" to make up a shortfall in the scheme have been rejected by the Pension Ombudsman.
-
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.
