Latest on Regulation & Reform – Page 467
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F&C Netherlands makes hires
EUROPE – Liesbeth Rutgers, fixed income chief at private banking outfit Theodoor Gilissen Bankiers, has been appointed institutional business co-director at F&C Netherlands.
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IPE-QUEST: Investor tenders high-yield mandate
GERMANY – A German corporate investor is tendering a mandate worth $100m (€80m) plus for actively managed US high yield debt.
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Romania names pensions regulator
ROMANIA - Parliament has approved the membership of the pensions regulator, the Surveillance Commission of Private Pensions (CSSPP), and confirmed acting council president Mircea Oancea in his position as its head.
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Nestlé setting up UK asset manager
UK – Nestlé says it is setting up a UK-based asset manager to provide services for its global pension funds.
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Netherlands to force funds to disclose voting
NETHERLANDS - Dutch Finance Minister Gerrit Zalm wants to force pension funds, insurers and banks to disclose the way they vote at company annual general meetings.
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Legg Mason revamps structure, management
GLOBAL – Legg Mason has organized its business into three units and revamped its management structure as it absorbs its acquisition of the Citigroup Asset Management business.
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MN Services, Cordares pool investment expertise
NETHERLANDS - The two largest Dutch pension providers, MN Services and Cordares, have decided to intensify their cooperation by pooling their investment expertise.
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Dutch schemes face sanctions from AFM regulator
NETHERLANDS – The Autoriteit Financiële Markten financial market watchdog says dozens of Dutch pension funds still don’t fully comply with its market conduct rules.
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Avon tenders for pensions consultant
UK – The roughly £1.9bn (€2.7bn) Avon pension fund administered by the Bath and North East Somerset Council is tendering for a pensions consultant.
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IPE-QUEST: Dutch fund tenders fiduciary
NETHERLANDS – Consulting firm Avida International is looking for fiduciary managers for a multibillion-euro Dutch pension fund client via IPE-Quest.
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MN Services, Robeco at odds over fund mergers
NETHERLANDS – Forced mergers between smaller pension funds are undesirable because they’ll become dependent on big banks, says MN Services.
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EU pensions committee admits “shortcomings”
EUROPE – CEIOPS, the Committee of European Insurance and Pension Supervisors, says there have been “unavoidable shortcomings” as it works on the EU Solvency II project for insurance.
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Belgian funds ‘forced into SRI investing’
BELGIUM – Public authorities in Brussels must invest “at least” 10% of their pension schemes in socially responsible investment under new orders approved by government.
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Italy's COVIP sees slow growth
ITALY – The complementary pensions sector is growing too slowly, according to the Italian pensions regulator, the Commissione di Vigilanza sui Fondi Pensione (COVIP).
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EU pensions portability proposal under fire
EUROPE – The European Commission’s proposal for a directive on pensions portability has come under renewed fire from MEPs and industry groups.
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Lines drawn over Solvency II for pension funds
EUROPE – Battle lines are being drawn between supervisors and industry practitioners over a proposal to include pension funds within the insurance industry’s Solvency II framework.
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IMA says managers could run UK national scheme
UK – Fund managers could indeed run the proposed National Pensions Savings Scheme at low cost using institutional management, according to the Investment Management Association.
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EFRP celebrates 25th anniversary
EUROPE – The European Federation for Retirement Provision (EFRP), which represents occupational pension plans in the EU and candidate states, is today celebrating its 25th anniversary in Brussels.
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Concern expressed over Antilles pension fund
NETHERLANDS – The Dutch Central Bank (DNB) is concerned about the implications for the Algemeen Pensioenfonds van de Netherlands Antillen (APNA), the general pension fund for government workers in the Netherlands Antilles, of the territory’s government debt, a Dutch a parliamentary working group has been told.
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Leave minimum entrance age to sector - VB
NETHERLANDS - The decision on the minimum age workers can join a pension fund should not be set in law, but be left to the respective sectors, says the VB.
