Regulation Archives - Page 43 of 81 - Pension Policy International

29NovNovember 29, 2022

UK. FCA reveals £49m redress scheme for British Steel pensions

Financial advisers to pay about £45,000 a worker to 1,000 staff who received unsuitable advice More than 1,000 former members of the British Steel pension scheme who received unsuitable advice from financial advisers accused of “enriching” themselves will receive an average payout of £45,000 in compensation. The City watchdog on Monday launched plans for a scheme that seeks to compensate those who had not yet received redress after being given poor pension transfer advice when British Steel fell into financial hardship. The...

November 29, 2022

NewsRegulation, UK

23NovNovember 23, 2022

US. New Biden rule allows socially conscious investing by retirement plans

President Joe Biden's administration on Tuesday reversed restrictions imposed under his predecessor Donald Trump on retirement plans considering environmental, social and governance (ESG) factors such as climate change and racial justice when selecting investments. The Labor Department announced a final rule first proposed last year after Biden, a Democrat, ordered government agencies to assess climate-related risk to retirement and pension investments. Read also 41% of U.S. women expect to retire at age 70, older or not at all: survey The rule will...

November 23, 2022

NewsESG, Regulation, US

23NovNovember 23, 2022

European regulator drafts guidelines for ESG fund names

European Securities and Markets Authority, the European Union's securities regulator, is seeking input as it works on rules for funds calling themselves sustainable or ESG. In a consultation paper published Nov. 18, ESMA offered draft guidelines for such funds, saying the names "should be supported in a material way by evidence of sustainability characteristics or objectives that are reflected fairly and consistently in the fund's investment objectives and policy." The proposal said those names "are a powerful marketing tool." Read also...

November 23, 2022

NewsESG, EU, Regulation

22NovNovember 22, 2022

Planned reforms to UK pensions will open access to PE

Defined contribution schemes in the UK may soon be allowed greater access to private markets following proposals from the Department for Work and Pensions. Under the consultation, published on 6 October, the UK government plans to remove performance fees from the charge cap applied to DC schemes – which are constrained by an annual 0.75 percent charge cap on assets under management and administration. This has acted as a barrier to accessing certain asset classes that charge a performance fee,...

November 22, 2022

NewsInvestment, Regulation, UK

21NovNovember 21, 2022

UK regulators call for action on hidden leverage threat to pension funds

Regulators and policymakers are calling for action to address the risks associated with pension funds’ use of derivatives, after key watchdogs admitted last week that they were unprepared for the crisis that hit the industry in September. The meltdown, now the focus of four separate parliamentary probes, revealed regulators did not have a reliable picture of the scale of hidden leverage in liability-driven investment (LDI) strategies, which cover about £1.4tn of the future promises made by UK defined benefit pension...

November 21, 2022

News2022, Investment, Pension Management, Regulation, Risk, UK

17NovNovember 17, 2022

EU regulators seek input on greenwashing

European financial regulators issued a call Tuesday for stakeholders to help them better understand greenwashing features, drivers and risks, and to identify potential greenwashing practices. The call for evidence came from the European Union's European Supervisory Authorities, consisting of the European Banking Authority and European Securities and Markets Authority in Paris and the European Insurance and Occupational Pensions Authority in Frankfurt. In the statement, the ESAs cited "rapidly evolving regulatory regimes" as well as growing demand for sustainability-related products and "the...

November 17, 2022

NewsClimate crisis, EU, Regulation

16NovNovember 16, 2022

Financial System: Challenges and Opportunities of Digital Transformation in Mexico

By Vanessa Veintimilla Brando & Daniel Miranda Lopez This work aims to understand the implications that financial technology represents for the Mexican financial system. Considering that the adoption of new technologies in the financial system (Fintech) is increasing, a novel and complex context has arisen with diverse implications in various aspects such as education, infrastructure, and the regulatory and supervisory framework needed to ensure a healthy development of the financial system. Although it has been shown that digitization brings...

November 16, 2022

Articles, Innovation2022, Education, Financial Inclusion, Mexico, Regulation

15NovNovember 15, 2022

The Nobel laureate, Paul Krugman and other experts will celebrate 25th anniversary of the Mexican pension system at Encuentro Amafore 2022

Encuentro Amafore 2022 will take place at the Citibanamex Center on the 16 and 17 of November, with keynote speeches by the 2008 Nobel Prize in Economics, Paul Krugman; 2004 Pulitzer Prize-winning historian and geopolitical expert Anne Applebaum; the political scientist, writer and professor at Stanford University, Francis Fukuyama; and the Director of Strategic Alliances and Contents of América Móvil, Arturo Elías Ayub. It will also feature keynote addresses by the director of strategic functions at BlackRock, Peter Fisher; Franklin...

November 15, 2022

News2022, ESG, Financial Inclusion, Innovation, Mexico, Pension Management, Regulation

15NovNovember 15, 2022

Nigeria. PenCom promises safety net on Micro-Pension Plan scheme

The National Pension Commission (PenCom) has revealed plans to intensify financial self-sufficiency for Micro Pension Plan (MPP) subscribers as the number of contributors increases to 84,000. This suggests that the level of awareness of the scheme among artisans, entrepreneurs and participants in the informal sector has increased in the last few months. The scheme is to encourage participants in the sector, which forms a large percentage of the working population, to save for their retirement. Speaking to newsmen at the ongoing Lagos...

November 15, 2022

NewsNigeria, Regulation

08NovNovember 8, 2022

UK expected to raise state pensions, benefits in line with inflation

Britain is expected to increase state pension and welfare payments in line with inflation in next week's budget, the Times newspaper reported. British Prime Minister Rishi Sunak is expected to announce the increases to ensure that the Nov. 17 budget is seen as fair and compassionate, the report said. The government will set out its fiscal plans in an effort to rebuild investor confidence after a "mini-budget" earlier this year caused borrowing costs to surge. New finance minister Jeremy Hunt will seek...

November 8, 2022

NewsPublic Pensions, Regulation, UK

November 2022