Latest on Regulation & Reform – Page 431
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Middle-aged men 'dominate' pension trustee boards
[16:00 CEST 28-08] UK – Pension trustee boards lack diversity, while trustees struggle coming to terms with the complexity of pension legislation, a new study has found.
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Indictments handed down in Fribourg pensions scandal
[14:30 CEST 28-08] SWITZERLAND – A magistrate investigating the past financial woes of the city of Fribourg’s pension fund has indicted the city’s treasurer and three other treasury employees, accusing them of falsifying accounting documents.
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First funds approved for Romania’s second pillar
ROMANIA – The Private Pension Supervision Commission (CSSPP) has authorised five second pillar pension funds for sale in Romania.
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Citigroup buyout not a trend, says report
[16:00 CEST 24/08] UK – Citigroup’s recent move into the buyout arena is unlikely to result in a major venture for the financial service company, actuarial consultant Punter Southall has said.
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Prosecutor to vet premier’s pension claims
SLOVAKIA – The Bratislava prosecutor's office is to examine comments made by Slovak prime minister Robert Fico about pension fund management companies.
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IASB clarifies IFRIC application
[16:45 CEST 22-08] EUROPE – Market commentators have incorrectly assessed the effects of IFRIC 14 on pension schemes, the International Accounting Standard Board (IASB) said today.
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Most schemes silent on wind-up legislation – Paternoster
[16:51 CEST 21-08] UK – Inadequate governance at the vast majority of UK scheme means their rules do not reflect current legislation for winding up lump sums, suggests pension buyout firm Paternoster.
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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.
