Legislation – Page 27
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News
Experts voice concerns over planned Italian second-pillar fund
Aon and SSGA say Italy’s INPS is unsuited to run a proposed new pension fund and should focus on developing existing arrangements
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NewsUS academics challenge whether ESG investing must be fiduciary duty
Two law professors have argued that the position taken by the PRI and others is ‘contrary to both law and economics’
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NewsSwitzerland edges closer to cutting conversion rate
Swiss employer representatives and unions have agreed on a reform package including changes to second-pillar pension law BVG/LPP
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NewsFRC board warns over government delays to budget sign-off
Delays to agreeing the audit regulator’s budget for 2019-20 could hamper work on the transition to the Audit, Reporting and Governance Authority
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News
New fund category to boost Swiss marketplace moves a step closer
The Swiss government has launched a consultation on legislative changes that would allow certain funds to be offered without prior authorisation
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Austria’s biggest pension fund ‘adds €1.5bn to economy’
Academic research shows economic impact of VBV Group’s investment activities; Survey shows dwindling faith in Austrian first pillar system
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NewsUK public sector schemes caught in consultant rule change
LGPS funds will be subject to new rules regarding the monitoring of investment consultants and fiduciary managers from December, having previously been exempt
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Expert group releases climate taxonomy proposal
EC publishes guidelines for corporate reporting of climate-related information alongside three expert group reports on big day for the Commission’s sustainable finance plan
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UK government urged to revisit miners’ pension scheme surplus rules
Government has taken £4.4bn from excess pension assets since 1994, but MPs, trustees and scheme members have demanded changes
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News
Mandatory tendering for fiduciary contracts becomes UK law
Pension scheme trustees must conduct a competitive tender for any new fiduciary contract covering 20% or more of assets
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News
Romanian government eases grip on second-pillar system
Crippling capital requirements on providers have been defused significantly, and the industry sees a “chance for survival”
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Dutch pension sector cautiously positive about reform agreement
Low-funded schemes emphasise that danger of benefit cuts has not disappeared entirely despite this week’s progress
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NewsDutch social partners and government reach agreement on retirement age
Underfunded schemes are temporarily off the hook after the minister for social affairs agreed to temporarily relax minimum funding rules
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NewsBlackRock cites auto-enrolment, UK’s NEST as model for French reform
Asset manager sets out a host of recommendations for pension saving reforms contained in the Pacte law, including auto-enrolment and pensions dashboards
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NewsUncertainty persists over Ireland’s IORP II transposition
Minister says drafting of regulations is ‘at an advanced stage’ – but a judicial review filed by trustees means the timeline is still unclear
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NewsChart of the Week: Brexit helps Ireland hit record AUM
ETFs, Brexit transfers and market performance pushed Irish AUM to an all-time high of €2.64trn in the first quarter of 2019, according to new data
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News
Swiss voters approve €4bn recapitalisation of Geneva pension fund
A plan worth CHF4.4bn will take the Swiss canton’s public pension scheme to a funding level of 75%, but without a DB to DC shift
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NewsManagers urged to comply with new cost disclosure templates
Minister warns government could legislate to enforce new transparency codes if managers fail to adopt the templates voluntarily
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AnalysisAnalysis: Experts warn of bank stress test impact on covered bonds
ECB’s banking sector stress tests have caused concern among covered bond analysts over the potential impact on the attractiveness of the asset class
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News
Falling costs and strong returns prompt KLP price cut
Norwegian municipal pension provider’s premium reduction comes as reforms threaten its near-monopoly on local authority sector
