Latest on Regulation & Reform – Page 485
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EU pensions committee eyes hedge fund role
EUROPE – The European pensions supervisory committee CEIOPS wants to serve as a focus for debating issues that impact occupational pension supervision from other sectors, such as hedge funds.
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UK says 25 schemes interested in cross-border
UK – The UK’s Pensions Regulator says around 25 pension schemes have registered an interest in operating cross-border under the new EU directive on occupational pension funds.
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Shareholder is king says EU’s McCreevy
EUROPE – EU internal market commissioner Charlie McCreevy today reiterated his belief that the “shareholder is king” and encouraged greater internal competitiveness.
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Former Watson partner Hill joins Investit
UK - Former Watson Wyatt partner Brian Hill has joined fund management consultancy Investit as a specialist.
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Dutch pension association OPF eyes service role
NETHERLANDS - The Dutch Foundation of Company Pension Funds, or OPF, has set out to become a service organisation for practical support of smaller company schemes, chairman Han Thoman said.
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Church of England upgrades pensions admin
UK – The Church of England Pensions Board (CEPB) is replacing its existing pensions administration system against the backdrop of the new pensions regulations in a bid to save time, cut costs and streamline administration tasks.
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Nestlé seeks pensions risk manager
UK – Nestlé is looking for a risk manager with experience in hedge funds to offer services, including the management of assets and liabilities, to its pension funds.
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Belgium to submit IORP law in January
BELGIUM - Belgian financial supervisors will present the final version of a new law for implementing the EU directive on occupational pensions in the first week of January.
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Sweden's FI amends traffic-light model
SWEDEN – The Swedish Financial Supervisory Authority, or Finansinspektionen, has amended the so-called traffic light model following consultation.
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Ireland’s Coyle Hamilton prosecuted by regulator
IRELAND – Consulting firm Coyle Hamilton has been prosecuted and fined over a failure to comply with the Pensions Act.
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Aegon’s Lommen joins Dutch supervisor DNB
NETHERLANDS - Former Aegon pensions co-ordinator Jacqueline Lommen has joined De Nederlandsche Bank, the central bank which supervises pensions.
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UK pension theft case highlights role of actuaries
UK – A report into the theft of £2.9m (€4.2m) from a UK pension fund has highlighted the role of the scheme actuary and asset managers in detecting wrongdoing.
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Activism at work as VNU reviews IMS deal
NETHERLANDS – Shareholder activism by pension funds appears to be a factor in VNU’s decision today to review its planned $6.3bn (€5.2bn) merger with IMS health.
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Dutch actuaries respond to conflict fears
NETHERLANDS - The Dutch Actuarial Society, or AG, is to introduce a uniform statement for the assessment of the financial position of pension funds and insurers, it said.
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EFRP welcomes two new Italian members
EUROPE – Italy’s industry-wide occupational pension fund association, Assofondipensione, and the Italian asset management association, Assogestioni, will join the European Federation for Retirement Provision (EFRP) as full members on 1 January 2006.
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Storebrand ‘ready for mandatory schemes’
NORWAY - Norwegian financial group Storebrand says that it is prepared for next year’s introduction of mandatory pension schemes for employees in Norwegian companies.
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TUC demands change on women’s pensions
UK – Radical changes are urgently needed on women’s pensions where only 30% qualify for a basic state pension and only 38% contribute towards a private pension, according to Britain’s Trade Union Congress (TUC).
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New Study assesses cross-border value
EUROPE - European and US asset managers view the establishment of local marketing offices in other countries as an expensive but effective option for cross-border selling, according to a new study.
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Müntefering likely to take pensions role
GERMANY – Despite his surprise resignation as chairman of the Social Democrats, Franz Müntefering is expected to honour his pledge to serve as Germany’s next pensions minister.
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OPF’s Steenvoorden leaves for SPMS
NETHERLANDS – Jeroen Steenvoorden, director of the Dutch company pension fund association OPF, has been appointed managing director of medical specialist pension fund SPMS.
