Latest on Regulation & Reform – Page 466
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News
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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News
‘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.
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IRIS names Hoogduin new director
NETHERLANDS - Lex Hoogduin has been appointed director of IRIS - the joint investment research institute of asset manager Robeco and Rabobank.
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UK investors manage over €4.3tn
UK – Investment managers in the UK now manage over £3trillion(E4.3trn) in assets, according to the Investment Management Association(IMA).
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News
Dutch governors and board member registers merge
NETHERLANDS - The National Register of Governors and Supervisors (NR) and the Register for Board Members of Pension Funds (RBP) will merge this year, both organisations have announced.
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Belgian minister proposes radical pension change
BELGIUM - Belgian minister Bruno Tobback has proposed one general pension system be available for all Belgians after leaving school.
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EU fund industry ‘outdated’
EUROPE – The EU fund industry is not correctly equipped to respond to the challenges of strong competition for investor savings and a rapidly evolving demand for investment products, according to a report to the European Commission.
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News
Germany rejects EC court action as “groundless”
GERMANY – The government has dismissed as “groundless” a court action by the European Commission against Germany over its so-called Riester-Rente, a tax-privileged private pension.
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Shareholders to vote on corporate governance - Eumedion
NETHERLANDS - The shareholders of a listed company should have a vote on its corporate governance policy, in order to achieve an adequate motivation in case of a deviation of the Tabaksblat Code, said Eumedion, the platform for corporate governance.
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News
GE Asset Management CEO exits
UK – Gavin Hill, chief executive of GE Asset Management, has quit to join the board of directors as investment director at pensions liability buyout vehicle Synesis Life under CEO Isabel Hudson.
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Dutch government turmoil could hit FTK
NETHERLANDS – The collapse of the Dutch centre-right government last night could delay the implementation of the new Financial Assessment Framework, or FTK, pension experts have warned.
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UK taken to European Court over pension directive
UK – The UK and Slovenia have been referred to the European Court of Justice by the European Commission for failing to implement the occupational pension funds directive.
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Features
UCITS denied pensions access
There has been some progress made recently towards prising open the market for UCITS funds - repeatedly touted by the European Commission (EC) as one of the key investment vehicles for retirement savings - but for many market participants things have not gone far enough. Those advocating a tighter linkage ...
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Features
In the prime of life
At 25, the European Federation for Retirement Provision would appear to be in the prime of life having helped to steer the EU pension fund directive through. But it’s work is far from over, with a full agenda which includes helping to ensure the directive is indeed implemented as well ...
