Latest on Regulation & Reform – Page 399
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News
Kellermann hits back on fair value claim
[17:05 CEST 22-09] NETHERLANDS – Joanne Kellermann, executive director at the Dutch central bank DNB, has brushed off criticism of the fair value accounting of pension liabilities, at the same time as the regulator becomes the latest to ban naked short-selling.
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News
Lehman's UK pension seeks PPF rescue
[16:00 CEST 22-09] UK – Trustees of the Lehman Brothers Pension Scheme have taken the first steps to find out whether the UK defined benefit pension fund should fall under the management of the UK’s pensions lifeboat fund.
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Special Report
The road ahead
Giles Drury and Tom Brown discuss how fund managers can move on after the credit crisis
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Special ReportSource of support and influence
With the burden of regulation growing and problems around issues like Solvency II, Martin Delaney asks how pension associations are tackling these issues on behalf of members
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Features
Exceptions to the rule
The message from Anne McGeachin on international financial reporting standards (IFRS) was clear: "The IFRS must be applicable worldwide, and we therefore cannot go around exempting jurisdictions.
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News
Pension funds review status of Lehman class action
[12:00 CEST 22-09] UK – Lawyers acting for two UK pension funds are now reviewing the terms of the current securities class action against Lehman Brothers and its directors following last week’s collapse of the company, to work out whether the new action will effectively have to be taken against ...
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News
EC threatens Poland with court action over pensions
POLAND – The European Commission given Poland two month to ease investment restrictions for its open pension funds (OPFs) before it file proceedings against the state at the European Court of Justice.
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News
Dutch insurers take regulator to court
[16:15 CEST 19-09] NETHERLANDS - The Dutch Association of Insurers (VvV) has the pensions regulator De Nederlandsche Bank with a court summons, for its part in what could allow the large pension funds ABP and PFZW to gain a foothold the insurance market.
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News
PFZW condemns pension proposals
[17:20 CEST 18-09] NETHERLANDS – PFZW, the €86bn pension fund for the Dutch health and welfare sector, has spoken out against new cabinet measures intended to increase labour participation between the ages of 62 and 65.
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News
Central banks pump money markets as AIG shares spiral (amended)
[17:05 CEST 16-09] GLOBAL – Central banks injected huge sums of money into the capital markets today in a bid to prevent from liquidity from seizing up but turbulence in the markets is still driving the price of equities down and bonds prices up as all eyes are now on ...
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News
EC cautious on IASB moves
[16:10 CEST 16-09] EUROPE – The European Commission (EC) has stated it expects the International Accountancy Standards Board (IASB) to proceed with extreme caution in the implementation of improvements to IAS19 accounting standards planned for 2011.
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News
ÖPAG halts cross-border plans
[15:45 CEST 16-09] AUSTRIA – Differences in labour and social laws across Europe are slowing down Austrian Pensionskasse ÖPAG's plans to go cross-border, IPE has learnt.
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News
6% Finnish pensioners below poverty line
[15:45 CEST 16-09] FINLAND – Around 6% of pensioners in Finland rely solely on the national pension in retirement, even though a full pension provides less than half of the median income of 60% - putting them below the poverty line, the Ministry of Social Affairs and Health has revealed.
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News
TPR seeks consultants for specialist disciplines
[15:20 CEST 15-09] UK – The Pensions Regulator (TPR) is seeking a number of specialist consultants in at least five areas including actuarial services and branding, as part of a new framework agreement.
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News
Swedish buffer funds exclude cluster bomb investment
[16:15 CEST 15-09] SWEDEN – Four AP-funds have agreed to divest from companies involved in the manufacture and sale of cluster munitions following a recommendation by the Ethical Council of the Swedish National Pension Funds.
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News
Profond goes international
[16:00 CEST 15-09] LIECHTENSTEIN – Swiss retirement service provider B+B, which runs the Profond Pensionskasse, has set up a subsidiary in Liechtenstein in a bid to target international clients.
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News
IASB proposals could force status change for BASF pensions
[14:45 CEST 15-09] GERMANY - German multinational BASF AG has revealed around 95% of its active-member pension obligation will shift to the IASB's proposed fair value pension measure, if the standard-setter's recently-published proposals to reform pension accounting become GAAP.
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NewsDNB wades into the IFRS pensions campaign
[17:05 CEST 12-09] NETHERLANDS – De Nederlandse Bank (DNB), the Dutch central bank and pensions regulator, has confirmed it is contributing to Dutch efforts to limit the impact proposed changes to the international accounting standards rules could have on the Dutch pension system.
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News
Dutch funds intensify Brussels lobby efforts
[14:45 CEST 12-09] NETHERLANDS – Mn Services is the latest of Dutch pension providers to intensify its presence in Brussels, as several pension funds and providers have already appointed lobbyists in the administrative centre of the EU, IPE has learnt.
