Latest on Regulation & Reform – Page 414
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Fragile coalition could 'doom' Czech reforms
[13:30 CET 22-02] CZECH REPUBLIC – The 'fragile coalition" of the Czech government could "doom" planned pension reforms as potential rifts between the three coalition parties have already been highlighted, a risk consultancy has warned.
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Eumedion slams corporate governance rules
[16:00 CET 21-02] NETHERLANDS - Eumedion, the platform for institutional investors, has rejected most of the proposals in the first drafts of new legislation on shareholders’ rights as unnecessary rules which do not sit well with other EU states’ activity.
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Finansinspektionen given power to fine mutual funds
[15:45 CET 21-02] SWEDEN – The Swedish Government is to extend the powers of Finansinspektionen, the Swedish Financial Supervisory Authority, over mutual fund companies and give it the ability to issue fines of up to SEK 50m (€5.4m).
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Gov't to increase TPR powers over buyout fears
[12:00 CET 21-02] UK – The government is planning to increase the power of The Pensions Regulator (TPR) to appoint independent or professional trustees to schemes, to tackle concerns about the pensions buyout market.
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Europeans "rely on occupational pension"
[11:30 CET 21-02] EUROPE – More and more people see the responsibility to provide guaranteed retirement income with the employer, AXA insurance found in its latest pension barometer.
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EC "invites" Greece and Ireland to speed up reforms
[11:00 CET 21-02] EUROPE – The European Commission has urged Ireland and Greece to bring forward pension reforms to limit the impact of longevity on public spending.
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Dutch review full-time pension at 65
[16:20 CET 20-02] NETHERLANDS – The Dutch minister for social affairs, Piet Hein Donner, is drafting a white paper to promote a part-time pension for employees aged 65 and above.
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Pension funds are "legal owners of pension assets"
NETHERLANDS - Pension funds are the only owners of pensions assets so legislation is required to prevent pension assets from draining away in the event of mergers, transformation of pension providers or liquidation, according to Dutch pension fund lobby organisations.
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Trustees warned over money-laundering rules
[15:50 CET 19-02] UK – A lack of guidance from the government over new money laundering rules mean professional trustees have to choose between applying for an individual ruling from the government or facing "draconian" penalties, lawyers have warned.
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Credit Suisse suspends traders after debt 'mismarking'
[16:15 CET 19-02] SWITZERLAND – Credit Cuisse Group has suspended traders responsible for some of its structured credit facility after the firm discovered positions were overpriced to the tune of $2.85bn (€1.93bn).
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MPs told not to miss conditional indexation 'opportunity'
[16:00 CET 18-02] UK – MPs have been warned rejecting conditional indexation for UK pension schemes will lead to millions of private sector workers being exposed to increased volatility associated with defined contribution (DC) schemes in the run up to 2012.
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Sandler to decide fate of Northern Rock pension scheme
[15:30 CET 18-02] UK – The future of the Northern Rock pension scheme will depend on the new management team of the nationalised bank, HM Treasury has confirmed.
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Scotland consults on LGPS draft regs
[11:00 CET 18-02] UK – The Scottish Government is consulting on draft regulations for a new Local Government Pension Scheme (LGPS) which it claimed could save around £20m (€27m) per year.
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NewsVB appoints Gerard Riemen as director
[16:00 CET 14-02] NETHERLANDS - The Dutch Association of industry-wide pension funds (VB) has appointed Gerard Riemen as its new director.
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PGGM is "rightfully named" PGGM
[15:00 CET 14-02] NETHERLANDS – A Dutch court has ruled PGGM, the newly separated manager of the €88bn pension fund Zorg en Welzijn (PFZW), may continue calling itself ‘PGGM’.
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NewsCovip seeks clarity for pensions members
[13:00 CET 14-02] ITALY - Covip, the Italian pension funds regulator, has asked Italian pension funds to provide workers with periodic estimates of their individual position and expected investment returns of their private pension schemes.
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German funds need incentives for private equity – minister
[15:00 CET 13-02] GERMANY – The reluctance of large domestic investors to go into private equity and venture capital is discouraging foreign investors from investing in German start-ups, according to a study commissioned by the German federal economy ministry.
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Bavaria chooses "Fed" for pension fund
[16:00 CET 12-02] GERMANY – The German Federal Bank “Bundesbank” will manage the assets of the now established pension fund for Bavarian civil servants.
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DNB to vet individual pension managers
[13:00 12-02] NETHERLANDS – The Dutch pension regulator and central bank, DNB has decided to start testing new pension fund managers on an individual basis.
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‘Stop internal rivalry’ – Holland Financial Centre
[12:00 CET 12-02] NETHERLANDS – Holland Financial Centre (HFC) is set to publish a business plan pleading for a departure from "internal competition" in the Dutch pension sector.
