Latest on Regulation & Reform – Page 426
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News
'If you don’t know it, don’t buy it' – Laboul
[16:45 CEST 01-10] EUROPE – Pensions funds should be more prudent to prevent losses on asset-backed securities related for instance to the recent US subprime credit crunch, says the OECD’s Andre Laboul.
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OECD to revise governance guidelines
[16:50 CEST 01-10] EUROPE – The Organisation for Economic Cooperation and Development (OECD) will revise its guidelines on the governance of pension funds, IPE has learned.
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Severance pay for self-employed
[15:00 CEST 01-10] AUSTRIA – Approximately 500,000 self-employed people will be granted access to the severance pay funds from next year.
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Features
Finding a half-way house
In the aftermath of several scandals,legislation introducing regulatory and governance changes is in the pipeline But, with moves towards regionalisation of supervision, George Coats finds that the debate on the issues is far from over
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Features
No man is an island
The Isle of Man government is keen to promote the island as an attractive place to locate a business. To this end, it has published proposals to simplify its tax regime for pensions, with the intention of enabling the Isle of Man to remain competitive with other countries. As such, ...
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One in four firms consider cross-border pension
[13:30 CEST 28-09] EUROPE - A quarter of large European company pension funds are thinking of introducing pan-European pension plans within the next 10 years, consultancy Towers Perrin has claimed.
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Lovells enters the class action fray
[17:00 CEST 27-09] EUROPE – Lovells, the UK pensions law specialist, is creating its own class action unit to support pension funds seeking securities class actions.
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Study admits statutory Swiss pensions governance needed
[16:30 CEST 27-09] SWITZERLAND – Self-regulatory pension fund governance may not be strong enough to protect pensions in Switzerland, suggests a pension fund study published by Swisscanto.
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EC takes portability directive forward
[12:00 CEST 27-09] EUROPE – The European Commission (EC) is breathing live into the recently-shelved EU pensions portability directive again through new proposals to the European Parliament.
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Pension reform unnecessary, says one half of gov’t
[11:00 CEST 27-09] AUSTRIA - The government coalition is split over a decision by the pension commission stating no reform of the retirement system is currently necessary.
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Swiss Life chooses Holland for assets base
[16:45 CEST 26-09] NETHERLANDS - Swiss Life Asset Management (SLAM) has moved a sizable chunk of its assets to the Netherlands because it claims the present legal structure for investment funds is considerably cheaper than the Luxembourg framework.
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ACA urges government to introduce pension reform
[16:33 CEST 25-09] UK – The Association of Consulting Actuaries (ACA) is urging the UK government to encourage risk-sharing schemes by introducing legislative reforms.
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eShare to set up online trustee forum
[16:30 CEST 25-09] UK – eShare, a UK provider of web-based governance tools, is setting an online discussion forum for pension fund trustees.
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DNB embarks on fining spree
[14:15 CEST 25-09] NETHERLANDS - Dutch insurer Achmea is the latest company to be hit with a fine from pensions regulator De Nederlandsche Bank (DNB) for reportedly violating Dutch law on corporate pension funds’ use of member data.
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Italy’s second pillar flourishes under TFR
[15:45 CEST 24-09] ITALY – Subscriptions to the Italian second pillar doubled to 2.7 million accounts in the first half of this year, the Italian pension fund regulator, Covip has announced.
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DNB fines Mn for 'illegal' data use
[15:15 CEST 24-09] NETHERLANDS - Pensions regulator De Nederlandsche Bank has fined Dutch pensions provider and asset management firm Mn Services for trying to “illegally” obtain information about participants of industry-wide schemes for additional insurance services.
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Edhec sets up pension fund research chair
[13:00 CEST 24-09] FRANCE – The Nice-based business school Edhec and Axa Investment Managers have created a research chair on regulation and institutional investments.
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Pension schemes’ governance is lagging - DNB
NETHERLANDS - Many pension funds have underestimated the time needed to implement the principles of pension fund governance and a large majority have yet to organise their internal supervision, pensions supervisor De Nederlandsche Bank has warned.
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Dutch cabinet to limit support for pension build-up
[16:00 CEST 21-09] NETHERLANDS - The Dutch cabinet has announced proposals to limit the fiscal support for the build-up of a pension for incomes of over €185,000.
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ABP to implement new internal risk model
[15:00 CEST 21-09] NETHERLANDS – ABP, the largest Dutch pension fund, is set to be the first to implement a new internal risk model for the solvency test as part of the new FTK assessment framework.
