Latest on Regulation & Reform – Page 433
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Features
SIFs’ challenge to German ‘Spezials’
Luxembourg’s new and flexible specialised investment funds are threatening to take business away from German Spezialfonds. Nina Röhrbein reports
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Features
An inequitable situation
The UK Equitable Life scandal shows the need for consumer confidence in financial services, writes Jeremy Woolfe
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Features
Smoothing comes under scrutiny
If the International Accounting Standards Board was looking for praise of its decision to tackle pensions accounting, it found it among members of its recently formed pensions working group at its inaugural 5 June meeting. Although a minority warned the board against creating an era of constant upheaval in pensions ...
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Features
Open funds open wider
Reform of open pension funds is liberalising the domestic market. Maria Teresa Cometto spoke with Intesa Previdenza, the largest such fund in Italy
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News
TFR use for pensions "disappointing" - Candylaftis
[17:00 CEST 29-06] ITALY – Only a small number of Italians have chosen to put their severance pay TFR into pension funds but the pension industry will grow, asset manager Francis Candylaftis is convinced.
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EC takes Germany to court over pensions competition
[17:03 CEST 28-06] GERMANY – The European Commission is taking Germany to court over the failure of its local governments to award contracts for deferred compensation plans in a manner consistent with EU competition law.
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Parent group contract reveals anti-avoidance - TPR
[17:01 CEST 28-06] UK – A US-based transportation company is being hit with the UK’s first financial support direction (FSD) because it has an agreement in place to support its UK subsidiary’s pension, The Pensions Regulator has revealed.
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Aranykor gets new managing director
[17:01 CEST 28-06] HUNGARY – The HUF92bn (€372m) Aranykor Pension Fund has named Krisztina Kulyassa as new managing director.
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Plan members get say on policy
[11:00 CEST 28-06] NETHERLANDS - The Social and Economic Council (SER) is to ask ordinary Dutch workers for their views on pensions this autumn.
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Develop alternatives to DC, urges Bank president
NETHERLANDS - The president of supervisor De Nederlandsche Bank (DNB) has challenged the Dutch pensions sector to develop new alternatives to defined contribution (DC) plans.
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France half way to solving pension issue - OECD
FRANCE – Complex tax and overgenerous benefits for public transport workers are holding up pension reform, according to the OECD.
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News
Swiss and UK funds win tax refund
UK/SWITZERLAND – UK pension funds investing in Swiss companies will get their tax at source on dividends refunded under a new amendment to bilateral agreements signed today.
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Covip defends itself before Senate
ITALY – Pensions regulator, Covip, has told the parliament in Rome that it would be wrong and untimely to reform supervision of occupational retirement plans.
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Müntefering to extend fiscal exemption
[11:15 CEST 26-06] GERMANY – Pensions minister Franz Müntefering has decided to prolong a social tax exemption for deferred compensation plans beyond 2008.
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EBRD-backed Slovenian giant goes east
SLOVENIA – Slovenian pension provider Prva is one of the first to be granted a license to sell compulsory supplementary pension products under Romania's newly-created second pillar.
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UN warns of "destabilizing" effect of pension funds
[17:11 CEST 21-06] GLOBAL – The United Nations (UN) has voiced concern about the impact growing activity of institutional investors, such as pension funds, might have on economies.
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Portability seeks amendments after MEPs' 'OK'
[17:10 CEST 21-06] EUROPE – The European Parliament has approved a watered-down version of the portability directive but the paper will now go back to the Commission for more amendments in order to get the Council's approval.
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Investors forced to reveal intentions on Dutch stocks
[13:07 CEST 21-06] NETHERLANDS – Shareholders will in future have to announce when they hold 3% in a Dutch listed company, instead of the current 5%, and disclose why they are holding them, the Netherlands government has revealed.
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News
More schemes to join Unilever’s FCP fund
[16:58 CEST 20-06] GLOBAL – Anglo-Dutch household goods giant Unilever says more of its global pension funds will join its FCP fund, including its first defined contribution (DC) plan at the end of June.
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News
BVI warns CGT may hurt German competitiveness
[13:02 CEST 20-06] GERMANY – Fund industry association BVI has warned the competitiveness of Germany as a financial centre may suffer unless the government amends a planned capital gains tax (CGT) on funds.
