Latest on Regulation & Reform – Page 406
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SocGen to launch Serbian pension fund manager
SERBIA – French banking group Société Générale has announced it has received regulatory approval to set up its planned pension fund management company in Serbia.
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TLPs could be 'foundation' for wider mortality market
[16:55 CEST 08-07] UK – Traded Life Policies (TLPs) could become a successful new asset class and provide a "firm foundation" for the development of the wider life market in trading mortality and longevity-indexed securities and derivatives, according to research from the Pensions Institute at CASS Business School.
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Investors back reform of 'disturbing' CRA conduct
[14:30 CEST 08-07] UK – Investors have backed calls for the reform of credit ratings agencies (CRAs) after identifying a lack in professional conduct, according to the Chartered Financial Analysts (CFA) Institute.
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EC lifts hold-up on Ucits IV
[13:30 CEST 08-07] EUROPE - Ucits IV, described as a badly-needed upgrade of European Union rules governing pan-EU cross-border fund movements, is back on the European Commission’s agenda.
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Pension deal dies along with coalition
[12:30 CEST 08-07] AUSTRIA – Austrian voters will have to choose a new government as the coalition between the SPÖ and ÖVP parties has broken over pension, health and EU issues.
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Serbia mulls second pillar (amended)
SERBIA – Within the next few years Serbia will be next in line in the CEE region to introduce a mandatory second pillar, Marija Medenica, director of Erste Invest Beograd, has told IPE.
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Gov't wants 'formal' research into 50% MNTs
[12:00 CEST 02-07] UK – The UK government says more "formal" research is needed to assess potential issues before the government will increase the legal requirement for member-nominated trustees (MNTs) on pension boards from one-third to 50%.
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Dutch government rejects raising retirement age
[15:30 CEST 30-06] NETHERLANDS - The Dutch government has rejected calls to raise the official retirement age and stated it would prefer to motivate people to work until they reach age 65.
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Three in 10 Italian workers have private pensions
[14:45 CEST 30-06] ITALY – Less than 30% of Italian private sector workers are now signed up as members of private pension schemes but the number has at least climbed to 3.5 million people, data from Italian pension sector regulator Covip reveals.
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FeaturesDeveloping India's capital markets
This report was researched and compiled by Christopher Hindle and Marie Verpilleux of Global Business Reports
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Czech Republic and Slovakia eye pension reforms (amended)
[14:30 CEST 26-07] EUROPE – The Czech parliament has finally approved changes to the pension system which will increase the State retirement age and incentivise savings in private plans, and Slovakia is planning to alter its private pension investment rules following pressure from the European Commission.
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CFA unveils global code of conduct
[16:00 CEST 26-06] GLOBAL – The Chartered Financial Analysts Institute is seeking to persuade all individuals who sit on the governing bodies of pension funds to improve governance by adhering to a global code of conduct for pension schemes.
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Call for pensions tax relief to fund Irish universal pension
[13:30 CEST 26-06] IRELAND – Ireland should significantly reduce tax incentives for occupational and private pension schemes in order to pay for a higher, and universal state pension, a joint paper from Trinity College and the think-tank for Action on Social Change (TASC) has claimed.
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FeaturesPension benefit indexation rules
Rachel Fixsen provides an overview of defined benefit pension indexing rules in three European countries
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Dutch funds see equities fall €32bn
[16:30 CEST 25-06] NETHERLANDS – Dutch pension funds saw the value of their equity portfolios drop by another 6% in the first quarter of 2008 because of continued unrest on the financial markets, the Dutch central bank DNB said today.
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NewsPensions Board action pushes compliance
[16:15 CEST 25-06] IRELAND – The Irish minister for social and family affairs has claimed four successful prosecutions by the Pensions Board in 2007 should "send a message" not to take risks with other people's money.
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Basque Country looks at territorial schemes
[15:00 CEST 24-06] SPAIN – A delegation of Basque Country representatives is examining two models of territorial pension funds with the aim of creating a single scheme for all its governmental departments.
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IMF tells Austria to 'ease investment restrictions'
[14:00 CEST 24-06] AUSTRIA – Regional restrictions on equity exposure in third-pillar pension vehicles might be detrimental to the funds' performance, the International Monetary Fund (IMF) has suggested.
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NewsNorway consults on ethical pension guidelines
[17:05 CEST 23-06] NORWAY – The Norwegian Ministry of Finance has issued a public consultation on the evaluation of ethical guidelines for the Government Pension Fund – Global, which highlights potential changes such as introducing a 'cut-off' point for active ownership discussions.
