Latest on Regulation & Reform – Page 463
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Maher steps down as Pensions Board CEO
IRELAND – Anne Maher is due to step down resign as chief executive of Irish pensions regulator the Pensions Board after 10 years in the role.
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McCreevy to address IPE Awards
EUROPE – Charlie McCreevy, the European Commission’s Internal Market and Services Commissioner, is to address this year’s IPE Awards in Paris on November 30.
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UK pension deficits dragging on investment - CBI
UK – The UK’s growing corporate pension contributions are hitting firms’ profits and investment, according to a survey from the Confederation of British Industry.
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UK trustee code goes to Parliament
UK - The Pensions Regulator's code of practice on member-nominated trustees has been laid before Parliament.
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European Court in preliminary ruling on UK case
EUROPE – The UK government is not liable for the pensions of the former workers of failed industrial group Allied Steel and Wire, according to a preliminary judgment at the European Court of Justice.
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New UK pension buyout firm gets FSA OK
UK - Synesis Life, one of several new entrants into the pension annuity buyout market, says it is likely to get approval from the Financial Services Authority.
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Swedish Minister warns of transparency law
SWEDEN - Sven-Erik Österberg, the Swedish Minister for Local Government and Financial Markets, has warned that he may introduce a new law to compel private equity and venture capital companies to disclose information about their borrowing.
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Italian hedge fund industry lacks special skills – AIMA
ITALY – The absence of specialist on-shore knowledge in Italy’s hedge fund industry has dampened down the market for competition, according to a report by global hedge fund trade association AIMA and international law firm Simmons and Simmons.
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EU schemes to reclaim dividend tax
EUROPE/NETHERLANDS - Pension funds based in other EU member states will also be allowed to reclaim dividend tax, the Dutch Treasury has announced.
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Old Mutual Asset Managers appoints CIO
UK – Old Mutual Asset Managers (OMAM) has appointed Eoin Murray, its current head of quantitative strategies, as chief investment officer.
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Hymans axed by Cape pension trustees
UK – The pension trustees of global industrial services company Cape PLC have axed Hymans Robertson as scheme consultant, and appointed Buck Consultants instead.
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Swedish regulator voices concern on private equity
SWEDEN - Sweden’s financial supervisory authority, Finasinspektionen (FI), has said it is worried about the rising levels of debt in private equity and venture capital companies and has called for greater transparency in their activities.
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IPE-QUEST: Two new searches on system
GLOBAL – A continental European pension fund is looking to invest between $50m and $100m in hedge funds via IPE-QUEST.
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German government approves new civil service scheme
GERMANY – The government has approved a draft law paving the way for the creation of a pension fund for federal civil servants hired after January 1, 2007.
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New rules for companies’ collective DC schemes
NETHERLANDS - Accountants and actuaries will issue new criteria for companies that have changed their pension funds into collective defined contribution schemes.
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EFAMA urges EC to remove regulatory barriers
EUROPE – EFAMA, the European Fund and Asset Management Association, has called on the European Commission to remove legal and regulatory barriers of the UCITS Directive.
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Lothian scheme tenders €332m FI brief
UK – The roughly £2.6bn (€3.8bn) Lothian Pension Fund is tendering for a fund manager to manage its £230m global fixed income portfolio.
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Aon to administer Allianz Cornhill; operations manager exits
UK – UK general insurance giant Allianz Cornhill has appointed Aon Consulting as administrator of its £438m (€631m) closed defined benefit pension fund.
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‘No excuse for secrecy’, F&C tells pension funds
NETHERLANDS - F&C has thrown its weight behind moves to compel Dutch pension fund managers to disclose their voting records.
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KPMG talking to five on asset pooling
IRELAND - Accounting firm KPMG says it is talking to five potential clients, including pension funds, about asset pooling.
