Latest on Regulation & Reform – Page 89
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News
FX rigging claimants win bitter-sweet certification ruling
Proposed class members include financial institutions such as pension funds, asset managers, hedge funds and mutual funds
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UN secretary general launches group to examine net-zero pledges
High-level expert group will assess current standards and definitions and recommend enhancements if they are found wanting
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Country ReportCountry Report – Pensions in Germany & Austria (April 2022)
It took just over 100 days in office before Germany’s new coalition government announced a €500bn budget to first pillar pension financing, setting in motion an agreed reform process that would create a partially funded state pension system.
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Special ReportManager selection: Asset management operations under scrutiny
The role of outsourced operational due diligence on asset managers is becoming more prominent
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Country ReportGermany: Rethinking the rules for Pensionskassen
Pensionskassen are still a reliable way to provide employees with occupational pensions but regulatory requirements must change
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Country ReportAustria: Political instability slows pension reform
The government continues to drag its feet on the comprehensive overhaul of second-pillar pensions
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Opinion PiecesUK's pension dashboard project should prioritise accuracy over simplification
The UK’s Department for Work and Pensions (DWP) consultation on the draft Pensions Dashboards Regulations 2022 closed last month. The DWP now aims to lay the regulations before parliament for debate later in the year.
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UK roundup: Regulator used its powers against Germany’s Scharf AG
Scharf showed ‘complete disregard’ for the Dosco scheme, according to TPR
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NewsDWP adds ‘disclose and explain’ proposals to DC illiquids boost agenda
Major DC consulation also reveals government plans to continue with charge cap reform despite opposition
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Swedish pension funds at odds over scandal-hit Ericsson’s AGM
Major investor in telecoms firm AMF says Ericsson board has worked to reduce corruption risk
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German government prepares Aktienrente bill
The statutory equity pension is an ‘integral part’ of the work of the current coalition government, says FDP’s Vogel
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NewsNorway adds Russia, Belarus to SWF’s bond blacklist; says fund is not policy instrument
North Korea and Syria to remain part of “government bond exemption”, says finance ministry
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NewsSwedish watchdog warns pension funds to check solvency given war
FSA says survey shows insurance firms had low exposure to Russia and Ukraine, but only a quarter had calculated solvency since war began
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NewsIFRS Foundation to coordinate with GRI over sustainability disclosures
Objective is an interconnected approach between investor-focused ISSB and multi-stakeholder-focused GRI
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Insurer Uniqa abandons PEPP project due to legal concerns
Window for applications for PEPPs opened on 22 March with no clarity on product launches
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‘Milestone’ reached as SEC proposes climate-related disclosure rule
Proposed US rule passed 3-1 by Commissioners and will be subject to 60-day comment period
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IOPS sets out good practice for making pension projections, warns of pitfalls
Forecasts can be ‘powerful tool’ to manage people’s expectations and sway their retirement decisions, says international body
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NewsTELA says 96% of Finnish occupational pension assets invested responsibly
Analysis shows nearly all the system’s €255bn assets invested in line with UN’s Principles for Responsible Investment
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NewsGerman government plans €500m cut earmarked to finance first pillar scheme
Coalition partners promised to set up a fund for the third pillar system to offer an inexpensive pension product
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NewsFinnish pension insurers’ solvency stronger despite higher equity allocations
Pensions lobby TELA says strong solvency now needed, because it’s unclear how long war will last, or what the economic effects will be
