Latest on Regulation & Reform – Page 429
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Germany to tighten corporate investor supervision
[17:00 CEST 17-08] GERMANY – The German government has approved a new regulatory regime for corporate investors such as hedge funds and private equity firms, to increase transparency and prevent ‘collaborative action’ among investors.
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JP Morgan denies bond buy-back has stalled
[16:30 CEST 17-08] GREECE – Investment bank JP Morgan has denied claims its offer to buy back of the scandal-ridden €280m Greek government bond has reached an impasse.
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Bulgaria has 'concentrated' pensions market
[16:15 CEST 17-08] BULGARIA – There is limited competition in Bulgaria's voluntary pension insurance market, according to the Financial Supervision Commission (FSC).
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Mecklenburg joins civil servants fund trend
[15:30 CEST 16-08] GERMANY – Mecklenburg-Vorpommern will become the ninth German province to create a pension fund for its civil servants.
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FJAs to claim US tax benefits collectively
[16:45 CEST 15-08] NETHERLANDS - Changes in cross-border tax processing means closed Dutch funds for joint accounts (FJAs), in which pension funds are the sole participants, should now find it easier to claims US dividend tax benefits, the Dutch Finance Department has said.
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DSK to deliver IORP-compliant pensions
[16:30 CEST 15-08] BULGARIA – DSK-Rodina has become the second pension provider to receive a licence to offer occupational pension funds under the third pillar.
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Germany to raise federal employees' retirement age
[16:15 CEST 15-08] GERMANY – The government is planning to raise the retirement age for civil servants from 65 to 67 from 2029 – although those with military or police jobs may still be able to retire at 60.
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Pension funds more active as shareholders – NAPF
[16:45 CEST 14-08] UK – Large UK pension funds’ engagement with the companies in which they hold shares is growing further and getting results, says the National Association of Pension Funds (NAPF).
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Quarter of UK audit reports ‘meaningless’ – LAPFF
[16:30 CEST 13-08] UK – Almost a quarter of large UK companies do not provide proper reports to their shareholders on audit practices, suggests a survey by the Local Authority Pension Fund Forum (LAPFF).
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Fixed PPF levy 'problematic for some' - Aon
[16:00 CEST 10-08] UK – Companies and pension schemes could lose out financially should the levy for the Pension Protection Fund (PPF) be set for more than one year, Aon Consulting has suggested.
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Germany shows support for deferred compensation scheme
[16:00 CEST 09-08] GERMANY – The government has approved a draft law to extend a social tax exemption for deferred compensation schemes beyond 2008.
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Pension protection levy to be set for three years
[16:55 CEST 08-08] UK – The Pension Protection Fund (PPF) has released a consultation questioning whether the levy pension schemes pay should be fixed for three years.
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Bulgaria to increase pensions
[16:00 CEST 07-08] BULGARIA – The three parties making up Bulgaria’s coalition government have agreed a 10% increase in state old age pension payments from October.
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PRSAs jump the €1bn hurdle
[14:00 CEST 06-08] IRELAND – Assets held in Irish Personal Retirement Savings Accounts (PRSAs) have now crossed the £1bn mark, according to the latest figures from the Pensions Board.
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One in five chose pension fund for TFR
[13:30 CEST 06-08] ITALY – Eight out of 10 Italian workers have explicitly made a choice on where to put their severance pay (trattamente di fine rapporto, TFR) while only 10-15% used the 'silent assent' clause, figures released by the labour ministry reveal.
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Hedge funds eye Dutch investment vehicle - adviser
[15:30 CEST 01-08] NETHERLANDS - A “considerable” number of hedge funds and other investment funds mare considering a move to the Netherlands, in order to benefit from the new tax-free investment vehicle VBI, suggest industry experts.
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Romania introduces pension fund risk profile
ROMANIA – Pension funds in the recently-created Romanian second pillar will be labelled "high risk level" if they have less than 65% invested in low-risk bonds.
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Estonia needs to change pension indexation - IMF
ESTONIA – Current legal practices regarding the indexation of pension benefits is the major factor behind the destabilization of Estonian finances, the International Monetary Fund (IMF) found.
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Levensloop and spaarloon should merge - Bovenberg
[17:00 CEST 31-07] NETHERLANDS - The tax-friendly saving schemes ‘spaarloon’ and ‘levensloop’ should be merged into a wider and robust savings facility for periods with less income, according to experts.
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Data important in risk-based supervision - IOPS
[13:00 CEST 31-07] GLOBAL – One of the biggest challenges in moving to a risk-based supervision of pension funds is data collection, the International Organisation of Pension Supervisors (IOPS) has found.
