Latest on Regulation & Reform – Page 464
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News
ABP’s Munsters calls for one share, one vote
NETHERLANDS - Roderick Munsters, chief investment officer of Europe’s largest pension fund Stichting Pensioenfonds ABP, has called for the European Commission to implement a ‘one share, one vote’ system of shareholder ownership.
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Swiss chief rounds on pension fund “bunglers”
SWITZERLAND – The five Swiss pension funds involved in the Swissfirst insider trading scandal have been dubbed “bunglers” by the president of Switzerland’s Social Security Fund.
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Call for UK local government fund accountability
UK – The government has been advised to overhaul the accountability arrangements for the UK’s Local Government Pension Scheme.
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Ireland debates mandatory system
IRELAND – The Irish government has been advised by the Pensions Board to implement an increase in the state pension and create a new mandatory supplementary system.
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Ireland personal account assets top €544m
IRELAND – Assets held by the new Personal Retirement Savings Accounts in Ireland have risen to more than €544m as at the end of the second quarter.
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IFRS pension reporting ‘could be improved’
UK – A UK panel has found that defined benefit pension disclosures under International Financial Reporting Standards could be improved.
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UK health service pension proposals unveiled
UK – Staff and employers at the National Health Service are being asked to comment on proposed changes to the NHS pension scheme arrangements for England and Wales.
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Dutch pension funds ‘add to tax volatility’
NETHERLANDS – The unique nature of the Dutch pension system has contributed to higher volatility in the government’s tax revenues, according to a new report.
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Dutch cabinet to remove collective DC barriers
NETHERLANDS - The Dutch cabinet has indicated it wants to make the introduction of collective defined contribution schemes easier by removing certain barriers.
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More fears over “misguided” portability directive
EUROPE – Misgivings about the European Commission’s proposed directive on pensions portability have continued to emerge, with the latest salvo coming from the National Association of Pension Funds in the UK.
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Features
Lack of consensus on pensions portability
Many questions remain over the portability of pensions directive and agreement among member states seems as far away as ever, as Violetta Polese reports
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“Back to basics” for pensions accounting project
EUROPE – The Accounting Standards Board is going “back to basics” for its research project into pensions accounting.
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EU launches financial legislation database
EUROPE – The European Commission has set up a database allowing public access to all European Union member states’ financial services legislation - including the directive on occupational pension funds.
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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Belgium legislates for pan-European funds
BELGIUM - The Belgian government has passed legislation enabling pan-European pension funds to operate in and from the country.
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Dutch pension fund members get more say
NETHERLANDS – The Dutch government is to amend the current Pension Law proposal to include a legal basis for pension fund members to have a role in the management of funds.
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IASB sets up pensions accounting review
GLOBAL - The International Accounting Standards Board has added post-retirement benefits, including pensions, to its latest research agenda.
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Eureko to sue Polish govt as row escalates
NETHERLANDS – Eureko, the Dutch insurer which owns pensions firm Achmea, is to sue the Polish State Treasury for an infringement of its personal rights.
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Dutch finance regulator to leave early
NETHERLANDS – Arthur Docters van Leeuwen, chairman of market and pensions regulator De Autoriteit Financiële Markten, may leave his post earlier than expected to pursue a political career.
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West Midlands tenders currency mandates
UK – The £6.6bn (€9.7bn) West Midlands Metropolitan Authorities Pension Fund is tendering two new briefs – one currency alpha mandate and an active specialist currency overlay mandate.
