Latest on Regulation & Reform – Page 90
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Swiss regulator urges pension funds to check asset manager licenses
Asset managers that received approval by OAK BV until 2019 have to submit a request to FINMA for authorisation to operate by the end of this year
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NewsDutch query EC due diligence proposal pension fund scope, fit
Pensioenfederatie calls for clarification and amendment of Commission’s proposed corporate sustainability due diligence directive proposal
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French groups agree sponsored research charter in post-MIFID II move
Move follows recommendation of financial regulator and drop in number of companies covered by independent research
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Social partners plan to expand DC model for chemical industry to further sectors
BAVC and trade union IGBCE expect to start the new pension model from 1 October 2022
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Hybrid pension funds want clarity on pension transition
Dutch multi-sector schemes including PGB, PNO Media and SBZ Pensioen fear they may not be able to make the switch to DC under the proposed legal framework
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KLP says rising rates will lead to higher revenues after 0.75% Q1 loss
Introduction of a common buffer fund helped to strengthen KLP’s capital adequacy, says CEO of Norwegian municipal pensions giant
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UK court blesses charity trustees’ Paris-aligned strategies
Judge decides trustees ‘adequately balanced’ envrionmental goal with financial detriment
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UK roundup: Queen’s Speech fails to mention new Pensions Bill, autoenrolment plans
Plus: DB schemes see improved health; Buck launches DB governance tool
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NewsDutch parliament calls for pension indexation
A majority of the Dutch Second Chamber wants pensions minister Carola Schouten to press pension funds to index pensions wherever possible
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Velliv warns about official proposal to curb rises in pension age
Chief economist of Danish pension provider says commission’s idea removes 80,000 from already stretched workforce
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NewsDanish Pension Commission advises slowing the increase in pension age
Official panel produces long-awaited report, proposing changes ‘to equip the system for the future’
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Regs on trustee oversight of consultants, fiduciary managers in ‘late 2022’
CMA ’annual concurrency report’ reveals updated timings
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France’s UMR to incorporate as new pension fund vehicle
A dedicated pensions mutual, UMR considers the FRPS regime to be better suited to it as a long-term actor
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NewsEFRAG flags SFDR PAI links in draft corporate reporting standards
Draft EU corporate sustainability reporting standards out for consultation
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Country ReportUK: The long and winding road to consolidation
Brexit, COVID and other factors delay regulation that would enable commercial DB scheme consolidators to operate
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FeaturesInvestors sceptical on Tokyo equity market reforms
In April, the Tokyo Stock Exchange (TSE) implemented its biggest overhaul in over 60 years in an attempt to attract foreign investors. However, many industry experts see the move as largely symbolic and believe more needs to be done to create a roster of high-quality companies with strong corporate governance practices.
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FeaturesDerivatives: countdown to mandatory margin
From 1 September, a large number of pension funds and clients of asset managers will be required to start posting initial margin on their non-cleared derivatives exposures, a change that will have a big impact on how they conduct business. The problem is that many institutions may not be fully aware of the implications or what they need to do to prepare – and time is running out.
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NewsISSB unveils new advisory body, EFRAG names TEG members
New ISSB body to focus on enhancing compatibility between global baseline and jurisdictional initatives
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NewsSwiss parliamentary committee amends second pillar reform
Both the SGK-S and the National Council agree on the reduction of the conversion rate from the current 6.8% to 6%
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NewsEIOPA proposes new pensions info-gathering to close ‘important’ data gaps
Regulator says its capacity to analyse emerging risks is currently limited
