Latest on Regulation & Reform – Page 429
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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.
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PPF 'discourages' DB schemes, argues lawyer
[13:00 CEST 21-09] UK – Strong pension plan sponsors have issues with current regulations surrounding the Pension Protection Fund (PPF), an NAPF seminar heard.
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Trustee code of practice ignored, claims OPA
[15:30 CEST 20-09] UK – Companies will not fulfil the Pensions Regulator's Code of Practice on principles of 'proportionality, fairness and transparency' in trustee nomination in time for the October deadline, the Occupational Pensioners’ Alliance (OPA) has claimed.
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Foundation says EC to sue Dutch government
[15:00 CEST 20-09] NETHERLANDS – The European Commission is to take the Dutch government to the European Court of Justice over double taxation practices which are reducing pensions, according to the Foundation of Migrant Workers, the Stichting grensarbeid.
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BaFin president to lose power in leadership revamp
[12:30 CEST 20-09] GERMANY – Jochen Sanio, president of German financial regulator BaFin, is to lose authority as the government has approved a new leadership structure for the agency.
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Deregulation unlikely, NAPF seminar told
[11:00 CEST 20-09] UK – Minimising regulatory requirements for pension funds would be a good thing to do but it is unlikely to happen, delegates at a National Association of Pension Fund (NAPF) seminar agreed.
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Cabinet offers no clarity on ‘levensloop’ future
[16:45 CEST 19-09] NETHERLANDS – The Dutch government has been unable to formulate a new policy on the ailing tax-friendly ‘levensloop’, or life course, scheme.
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'Storm brewing' says French analyst
[16:45 CEST 19-09] FRANCE – President Nicolas Sarkozy's announcement of changes to the special pension arrangements for certain categories public employees will trigger strikes, analyst Phillip Silitschanu from the Aite Group told IPE.
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Small firm employees ignore company pensions
[16:00 CEST 18-09] UK – Only one in four small to medium-sized enterprises (SMEs) say all eligible employers are making use of pension arrangements.
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Malta dismisses IMF warning on pension reforms
MALTA - The International Monetary Fund has urged the Maltese government not to delay plans for the introduction of second pillar pensions, amid concerns the Republic will be unable to sustain a heavily-burdened social security system.
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Northern Trust secures Italian tax concession
[16:15 CEST 17-09] ITALY - Global custody and investment house Northern Trust has been granted a landmark Italian withholding tax ruling which will see one of its multinational clients’ funds pay lower dividends on equities.
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Pension trace service launched
[14:33 CEST 14-09] UK – The British government's Pension Service body is offering a free service to assist people to trace various pension benefits they might have accrued at previous places of employment.
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PPF says it aims to reduce levy
[13:00 CEST 13-09] UK – The UK Pension Protection Fund (PPF) aims to reduce its levy within the next five to 10 years, according to the fund’s director of corporate affairs Paul Reynolds.
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Pensions Board issues checklist
[13:00 CEST 13-09] IRELAND – The Pensions Board, the Irish pensions regulator, has published checklists for employers and trustees detailing their obligations to make pensions information available to employees and to inform the Pensions Board that such an arrangement has been made.
