Latest on Regulation & Reform – Page 486
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News
New regulator backs NIVRA on IFRS
NETHERLANDS -- The IFRS accounting rules require than companies with a pension fund that is part of an industry-wide scheme are required to carry their pension liabilities on their balance sheet, according to the new Dutch regulator for the financial markets, or AFM.
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News
New regulations to save UK schemes €14.7m
UK – New regulations published by the department for work and pensions (DWP) are expected to save pension schemes £10m (€14.7m) over the next three years and help employers running smaller schemes to bulk transfer members with protected rights into one single scheme.
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Winter appointed to AFM board
NETHERLANDS - Dutch finance minister Gerrit Zalm has appointed Jaap Winter to the supervisory board of the Financial Markets Authority (AFM).
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Irish fund servicing industry closes on $1trn
IRELAND – Irish-serviced funds grew 23% over the past year, topping $950bn (€785bn) as at 30 June 2005, according to Lipper Fitzrovia’s 11th annual Dublin Fund Encyclopedia.
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CEIOPS to issue paper for renewed consultation
EUROPE – European pension supervisory committee CEIOPS is to publish a revised protocol on supervisory co-operation for a further round of public consultation.
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Features
Are you listening?
Less than half of all EU member states were able to meet the 23 September deadline for telling the Commission that they had been able to fully implement the Institutions for Occupational Provision’s (IORP) directive, but many in the industry say this should not be a cause for concern. Previously, ...
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Features
Maximising your potential
The balance between work and family is of crucial importance for the key challenge Europe is facing: how to enhance innovation by creating a competitive internal market with an adaptable work force while at the same time maintaining social cohesion. The reason is that human capital is the key to ...
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News
Regulator issues Pensionskassen SRI guidelines
GERMANY – So-called ‘deregulated’ Pensionskassen will have to create a supervisory board for their business and disclose to what extent, if at all, they are engaged in socially responsible investments (SRI).
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London firms unready for MiFID says report
UK – More than two-thirds of London-based investment firms are not adequately prepared for the Markets in Financial Instruments Directive (MiFID) due to be implemented in November 2007, according to a research report released today.
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Call for German schemes to adopt governance code
GERMANY – Professor Wolfgang Gerke, a financial expert who recently unveiled a corporate governance code for asset managers, has called for the code to be embraced by German pension funds.
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Danes launch €70m public-private SRI fund
DENMARK - Nine Danish pension funds are to invest some €63m in non-listed companies in less developed countries in a public-private initiative under which the Danish government will share many of the preparatory costs.
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News
Shell settles case with US retirement plans
GLOBAL – Oil giant Royal Dutch Shell has resolved its dispute with US retirement plans in a $90m (€74.1m) settlement.
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Hewitt’s six dimensions of control for pensions
GLOBAL – Hewitt Associates has identified six areas where companies need to exert control of their global retirement benefits activities.
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News
Shell’s Dutch pension talks reach impasse
NETHERLANDS - The yearlong negotiations between Shell Nederland and the Dutch trade unions FNV Bondgenoten and CNV Chemie have reached an impasse.
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UK regulator to test powers against 17 companies
UK – The UK’s Pensions Regulator is looking to exercise its untested legal powers against 17 corporate sponsors that have purposefully attempted to avoid liabilities.
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UK pension buy-out growth inevitable – regulator
UK – More competition in the UK pension buy-out market is inevitable, says the Pensions Regulator.
