Latest on Regulation & Reform – Page 488
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News
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.
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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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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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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.
