Latest on Regulation & Reform – Page 443
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News
IMF finds fault with Swiss pension controls
SWITZERLAND – The International Monetary Fund has urged the Swiss government to centralise regulation of Swiss pension funds (Pensionskassen), noting that it would be an effective way of improving the current system.
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News
Polish treasury stays tough in Eureko dispute
POLAND – The Polish treasury has told IPE that the state-held stake in the country’s largest insurer, PZU, will not be reduced until the ongoing conflict with Dutch shareholder Eureko is resolved.
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Czechs look for clarity on contributions
CZECH REPUBLIC – Pension providers will have to distinguish client contributions from fund assets if a new consensus between Czech parliamentary parties and industry representatives succeeds.
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News
Swiss government mulls new governance standards
SWITZERLAND – The government is planning a host of measures aimed at improving corporate governance at local pension funds in the aftermath of the Swissfirst affair.
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Special Report
Italian reforms pave the way for SRI
Although the country is more or less in line with other European countries when it comes to SRI assets under management and around 20 SRI funds, in relative terms these assets present less than 1% of total assets under management, according to Davide dal Maso, head of Avanzi SRI’s research ...
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Features
A practitioner-led approach
AREF’s new Code of Practice is not just a new set of guidelines; it has a user-friendly format to assist effective implementation, as AREF chief executive Rachel McIsaac explains
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Features
Critics round on portability draft
Whatever the EU Council decides on portability, it is unlikely to please everyone and could take another 10 years to be implemented. Jeremy Woolfe reports
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Features
The shape of things to come
The IORP directive on cross-border funds was intended to create a pan-European pensions market, generating brand new business. The reality is that pan-European schemes are far off, while many existing schemes are not taking up the opportunities. Nina Röhrbein reports
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Features
For the many not the few
As the deadline for the amendment of the reform of the French retirement system approaches, Vincent Vandier outlines his plan to make pension funds more accessible
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Features
Facing into the new world of OFPs
We asked a number of Belgian pension funds about their current strategies – Rachel Fixsen reports
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News
S&P combines risk rating with accountancy advice
UK – Standard & Poor’s (S&P) Rating Services and accounting firm Moore Stephens have launched a convenant management service for pension trustees that combines the two firms’ company risk assessment approaches.
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News
DNB supports ABN Amro against hedge fund
NETHERLANDS - The president of the Dutch Central Bank (DNB) Nout Wellink has voiced support for ABN Amro, after demands in a letter from the hedge fund TCI for it to break up.
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News
McCreevy rules out private equity regulation
EUROPE – The EU Commissioner for the internal market, Charlie McCreevy, has told the private equity industry that has ruled out additional EU regulations.
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News
Dutch pension law needs flexibility – consultant
Netherlands - The funding ratio standard in the new Dutch FTK pension fund framework (nFTK) should be reduced in line with the EU occupational pensions directive, according to pension consultant Pierre Akkermans.
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News
Dutch DNB calls for indexation standard
NETHERLANDS – The Dutch pensions regulator De Nederlandsche Bank (DNB) wants a general standard to calculate the market value of indexation promises when pensions are transferred from one fund to another.
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News
Italian politics will not affect TFR - Pighini
ITALY - Italy’s power struggle in government will not affect the redistribution of €5-6bn of severance pay to banks and insurers next year, according to one leading pension fund.
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News
Irish chief rejects compulsory saving
IRELAND – Joe Byrne, chairman of the Irish Association of Pension Funds (IAPF), has warned that pension compulsion could be counter productive.
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News
Royal Mail pension loans under investigation
UK - The British government says it is confident it will be cleared by a European Commission investigation into £2.65bn (€3.94bn) of state support given to Royal Mail – including a £850m loan to plug a gap in the state-owned postal operator’s pension fund.
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News
Medical scheme preserves mandatory status
NETHERLANDS - The Dutch pension fund for self-employed medical specialists, SPMS has preserved its mandatory status under new legislation.
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News
DNB demands risk appraisal for private equity
NETHERLANDS – The Dutch pensions regulator, De Nederlandsche Bank (DNB), is setting up guiding principals to help develop financial institutions’ risk management of private equity and other alternative investments.
