Latest on Regulation & Reform – Page 379
-
News
EC to replace CEIOPS (updated)
[14:15 CEST 28-05] EUROPE – The European Commission is proposing to replace the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) with a new pensions authority in 2010, which it hopes will significantly improve cross-border cooperation and understanding between regulators.
-
News
Pension fund members to go to court
[17:00 CEST 27-05] AUSTRIA – 2,600 members of Austrian pensionskassen have hired a lawyer to file a complaint with the constitutional court over the question of ownership of pension fund assets.
-
News
'Failed' industry-wide schemes could lose members
[16:20 CEST 27-05] NETHERLANDS - Almost one in four Dutch pension funds with mandatory membership did not pass a key investment performance test between 2004 to 2008 and could potentially lose sponsoring employers as a result, according to VB, the Dutch association of industry-wide schemes.
-
News
EC to look at solvency rules on pensions
[14:15 CEST 27-05] EUROPE - The European Commission is to conduct an impact assessment of solvency rules for EU pension funds before it responds to last year's consultation on the topic and a public hearing that was held in Brussels today.
-
NewsAustrian pensions system 'riskiest' by comparison
[16:35 CEST 26-05] AUSTRIA – A study of defined contributions pensions regimes in Europe suggests beneficiaries of the Austrian second pillar alone bear almost the full risk of the capital market, according to pension expert Gerald Klec.
-
NewsECB staff to strike over pensions
[16:15 CEST 26-05] EUROPE – Staff at the European Central bank (ECB) are planning to hold an initial 90-minute strike next month, in protest against the bank's "unilateral decision-making" concerning changes to its defined benefit (DB) pension fund.
-
NewsDonner to lead broad review of pension system
[14:30 CEST 26-05] NETHERLANDS - Social affairs’ minister Piet Hein Donner will commission a study into the investment policy and risk management of pension funds, following the severe impact of the credit crunch on the capital-funded second-pillar schemes.
-
NewsEU hedge fund 'passports' will take five years to deliver benefits
[14:00 CEST 26-05] EUROPE - Most hedge fund and private equity managers are unlikely to benefit from the passport provisions of the European Commission’s Draft Directive on Alternative Investment Fund Managers (AIFM) before 2014, even though they will have to meet its requirements as soon as it becomes law.
-
News
Ageing impact requires further fiscal 'squeeze'
[17:15 CEST 22-05] UK – Existing plans by the government for fiscal tightening of 6.3% of GDP, or £90bn, over the next few years, to return the current budget to balance by 2017/18, is not sufficient to counter the costs of an ageing population, PricewaterhouseCooper (PwC) has warned.
-
NewsIIGCC calls for more 'effective' carbon markets
[17:10 CEST 22-05] EUROPE – The Institutional Investors Group on Climate Change (IIGCC) has proposed a number of measures to boost the effectiveness of carbon markets and raise money from the private sector to fund climate change mitigation.
-
News
Public sector reform to boost Romanian pensions
ROMANIA – Second pillar pensions funds in Romania could see a significant boost to membership in the coming years, according to pension experts, as the government is introducing reforms to cut its budget deficit which include reducing the non-contributory pensions for some public sector workers.
-
NewsIMA wants effective shareholder engagement
[16:55 CEST 21-05] UK – The number of fund managers making their voting records public increased from just two in 2003 to 24 five years later, so the UK's Investment Management Association (IMA) has revealed amid calls for more effective engagement.
-
News
Punter Southall wins FAS caseworker role
[17:00 CEST 19-05] UK – The Pension Protection Fund (PPF) has appointed Punter Southall as an external caseworker to help and support trustees of pension schemes entering the Financial Assistance Scheme (FAS).
-
News
Poland contributes cash as pensions rise
POLAND – Polish pension funds rose in value by 5.7% last month, following improved performance for the second consecutive month in a row along with fresh cash contributions from the government – the first to be made since 2003.
-
News
Belgian pensions hit by IAS19 review
BELGIUM – Belgian pension plan sponsors could face a double-whammy of problems as a result of recent decisions made by the International Accounting Standards Board, a pensions consultant has warned.
-
News
NAPF backs UK short-selling strategy
[16:40 CEST 15-05] UK – The National Association of Pension Funds (NAPF) has urged the UK’s Financial Services Authority to steer clear of a blanket ban on short-selling of equities, arguing certain investments strategies “depend on the ability to go short”.
-
News
Croatian funds back in positive territory
CROATIA – Croatia’s four pension fund companies collectively lost 0.9% on investments in the first quarter, but data reveals they are back in positive territory now.
-
News
EC steps up action against Poland
[17:00 CEST 14-05] EUROPE – The European Commission has moved to stage two in its pursuit of changes to Polish taxation policy, for what officials claim is discrimination against foreign pension and investment bodies.
-
News
Pensions Board grants DB schemes further reprieve
[16:40 CEST 14-05] IRELAND – The Pensions Board has further extended the deadline by which defined benefit (DB) schemes must file funding proposals for approval, following the introduction of new measures for DB schemes announced by the government last month.
-
News
Downturn unlikely to drive Ombudsman complaints
[17:25 CEST 13-05] UK – The Pension Ombudsman has predicted the economic downturn will not have a “direct or obvious effect” on its workload over the next three years, although the switch from defined benefit (DB) to defined contribution (DC) schemes could lead to more investment-related complaints.
