Latest on Regulation & Reform – Page 368
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News
Investors call for climate change clarity ahead of Copenhagen Summit
[16:30 CET 04-12] GLOBAL – Institutional investors are being encouraged to call on governments to deliver clarity on national climate change policies and transparency on market signals ahead of the COP 15 United Nations Climate Change Conference, or Copenhagen Summit, next week.
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News
Towers Watson merger gains EC clearance
[16:00 CET 04-12] GLOBAL – Towers Perrin and Watson Wyatt have been given the final regulatory clearance needed to go ahead with merger plans from the beginning of next year.
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News
Tories to review means-testing with personal accounts
[16:50 CET 03-12] UK – Theresa May MP, the shadow secretary of state for work and pensions, has stated the current UK government's failure to address the impact of means-testing on the 2012 pension reforms will be one of the issues it will include in a review of the personal ...
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News
Pension age rise criticised as Donner submits Bill
[16:45 CET 03-12] NETHERLANDS - Social affairs minister Piet Hein Donner has submitted his bill to parliament proposing a rise in the state pension (AOW) age from 65 to 67, despite criticism from the government’s most senior advisory body the Raad van State (RvS).
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Romania moves to cut pensions monopoly
ROMANIA – The two largest funds in the Romanian second pillar will not be handed new clients from the pensions default pool over the next two years, the supervisory authority has decreed.
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TPR targets smaller schemes with revised risk guidance
[13:30 CET 02-12] UK – The Pensions Regulator (TPR) has highlighted seven risk areas where trustees need to improve when assessing the internal risk and controls framework for the scheme.
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Features
Ong’s law of finance
When leading financial practitioners and academics convened in Qatar earlier in the autumn at the launch of QFinance to discuss the future of financial services regulation, it seemed that the economic tsunami of 2008 was finally receding and normality was returning. Banks have spent most of the year rebuilding their ...
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News
UK governance code to target investor communication
[16:45 CET 01-12] UK – The existing UK Combined Code on corporate governance remains "broadly fit for purpose" but additional proposals relating to the role of the chairman and non-executive directors have been suggested by the Financial Reporting Council (FRC).
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News
IASB corrects 'unintended consequences' of IFRIC 14
[15:15 CET 01-12] GLOBAL – The International Accounting Standards Board (IASB) has corrected earlier wording to its IFRIC 14 pensions accounting rules, which prevented some companies from recognising early pensions contribution payments as assets on the balance sheet.
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News
Gauzès proposes 138 changes to AIFM Directive (additional comment)
[16:55 CET 27-11] EUROPE - Jean-Paul Gauzès, rapporteur for the European Parliament’s Committee on Economic and Monetary Affairs has proposed 138 changes to the European Commission’s Directive on Alternative Investment Fund Managers (AIFM), in a draft report published yesterday.
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News
Walker review calls for investors' stewardship code
[16:10 CET 26-11] UK – The final report of the Walker Review into corporate governance has recommended institutional investors should abide by a new Stewardship Code, developed from the principles set out by the Institutional Shareholders Committee (ISC).
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News
AFM to check indexation labels from April
[15:45 CET 26-11] NETHERLANDS - The Dutch pensions communications regulator, the AFM, will start checking that pension funds are correctly using the indexation label from 1 April next year – three months after its introduction on 1 January 2010.
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News
Most Dutch insurers issue UPOs by deadline - VvV
[16:40 CET 25-11] NETHERLANDS – Dutch insurance-based pension providers have considerably cleaned up their acts, according to the Dutch Association of Insurers (VvV), as 89% of companies managed to send out their Uniform Pension Statements (UPOs) to members on time this year.
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News
Definition crucial to French pensions review
[15:45 CET 25-11] FRANCE – The French government has begun to assess its pensions regime ahead of an official review in 2010. But one pensions industry official involved in discussions says there can only be development of the pensions regime if the government can define what a pensions vehicle is.
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News
TPR targets trustees with governance campaign
[16:55 CET 24-11] UK – The Pensions Regulator (TPR) has signalled it will increased focus on good governance and administration in the run-up to 2012 with the launch of a new campaign targeted at trustees.
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News
ASB maintains support for risk free discount rate
[16:45 CET 20-11] UK – The Accounting Standards Board (ASB) has reiterated its view that pension fund accounting should use ‘risk free’ discount rates, as evidence suggests the UK AA corporate bond rate reduced the level of reported liabilities making schemes appear stronger than they were.
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News
Ireland to target cross-border pensions - Cowen
[16:00 CET 20-11] IRELAND – Brian Cowen, the Irish Taoiseach (prime minister) says his country will maintain its position as a 'centre of excellence' in the management of European pension funds by targeting cross-border pension activity.
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News
Kroes tells pension funds to confront corporate misbehaviour
[15:30 CET 20-11] NETHERLANDS/EUROPE - Pension funds have a responsibility to help keep banks on the straight and narrow, says Neelie Kroes, European Commissioner for Competition.
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News
BA trustees reject calls for chairman to resign
[17:00 CET 19-11] UK - As British Airways gears up to merge with Iberia, British Airways Pension Trustees have rejected calls for the trustee board chairman Roger Maynard to resign over impartiality issues.
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News
Ireland to 'bring home' the cost of pensions
[16:30 CET 18-11] IRELAND - Brian Lenihan, the Irish minister of finance, has warned the rising cost of public sector pensions needs to be "brought home to people".
