Regulation Archives - Page 46 of 67 - Pension Policy International

22SepSeptember 22, 2021

UK. The Pensions Regulator’s new criminal powers – how worried should companies and pension scheme trustees be?

The Pension Schemes Act 2021 (Act), which came into force on 11 February 2021, introduced new criminal offences to bolster the Pensions Regulator's moral hazard regime. Most notably, it will now be a criminal offence to engage in activity that has a materially detrimental impact on scheme benefits. The offence is punishable by an unlimited fine and up to seven years in jail. This offence operates alongside a civil penalty of up to £1 million. In this article, we take...

September 22, 2021

News, Slider2021, Regulation, supervision, UK

21SepSeptember 21, 2021

US. SEC Is Exploring Reforms Regarding Private Fund Disclosure Of Conflicts Of Interest And Fees and Expenses

On September 14, 2021, U.S. Securities and Exchange Commission Chair Gary Gensler testified before the Senate Committee on Banking, Housing, and Urban Affairs. During his testimony, he stated that the SEC is exploring “potential reforms” regarding investment funds and managers. Chair Gensler explained that one of the potential reforms under consideration by the SEC was ways to enhance disclosures by private fund managers regarding conflicts of interest and allocation of fees and expenses. He stated that he believed the...

September 21, 2021

News, Slider2021, Corporate Governance, Regulation, US

21SepSeptember 21, 2021

UK. Guy Opperman reappointed as pensions minister

Guy Opperman has been reappointed as pensions and financial inclusion minister after a reshuffle that saw the governmental pensions team largely unchanged. Minister since 2017, Opperman has spearheaded multiple pensions policy initiatives, including dashboards, collective defined contribution, superfunds, and simpler statements. Writing on Twitter yesterday (19 September), Opperman said: "Serving as a minister on behalf of the elected government, the prime minister and Her Majesty is a genuinely great honour and wonderfully challenging." He said he was "very proud of what we...

September 21, 2021

News, Slider2021, COVID-19, Regulation, supervision, UK

17SepSeptember 17, 2021

Retirement Benefits Sector Report 2020

By URBRA URBRA’s supervisory approach is focused on the particular characteristics of each supervised entity. The approach has key and consistent underlying themes focusing on: • a detailed understanding of the strengths, weaknesses and major risks facing supervised entities through rigorous off-site and on-site analysis, and strategic discussions with trustees and service providers; • ensuring that supervised entities are effective in their operations, and constantly demonstrate that they are financially sound and prudently managed. Get the book here 313 views

September 17, 2021

Books, Pension Management, System Sustainability2021, Investment, Regulation, Uganda

17SepSeptember 17, 2021

UK watchdogs team up to gauge value for money in DC pensions

The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have published a joint discussion paper on developing a common framework for measuring value for money in defined contribution (DC) pension schemes. The aim is “to drive a long-term focus on value for money across the pensions sector”, they said in a statement. Read also UK. Dashboard will not have accurate DB quotations DC savers can only maximise their retirement income if their scheme delivers value for money and the regulators said...

September 17, 2021

News, Slider2021, COVID-19, Regulation, UK

14SepSeptember 14, 2021

US. House Democrats propose new retirement plan rules for the rich, including contribution limits and a repeal of Roth conversions

House Democrats proposed a slew of changes to retirement accounts for the rich on Monday, part of a restructuring of the tax code tied to a $3.5 trillion budget plan. Taken together, Democrats’ reforms aim to erode the use of retirement accounts as a perceived tax shelter for the wealthy and instead promote them as a way for low- and middle-income Americans to build a nest egg. Most of the changes would start in 2022. Wealthy individuals with retirement accounts exceeding $10...

September 14, 2021

News, Slider2021, Income, Regulation, US

10SepSeptember 10, 2021

Danish pension sector adopts common climate reporting rules

Denmark’s pensions and insurance lobby announced today it has adopted a set of common climate reporting rules for the sector, as part of the ongoing work in the Nordic country to meet its 2030 emissions reduction goal. The new code – based on the comply-or-explain principle – covers CO2 emissions from investment assets, damage prevention, active ownership and the use of paper in everyday life, according to the announcement from Insurance & Pension Denmark (IPD). It has been devised as part...

September 10, 2021

News, Slider2021, Climate crisis, Denmark, Regulation

10SepSeptember 10, 2021

Jamaica. John Robinson Is New Chairman Of The FSC

The Ministry of Finance and the Public Service has announced that former Deputy Governor of the Bank of Jamaica (BOJ), John Robinson, has been appointed as the new chairman of the Financial Services Commission (FSC). Mr. Robinson is a career economist and banker with experience in the financial sector spanning more than three decades, 36 of which were spent at the BOJ up to his retirement in 2020 as Deputy Governor. During his tenure, Mr. Robinson held critical roles at the...

September 10, 2021

News, Slider2021, Jamaica, Regulation

02SepSeptember 2, 2021

UK. Draft CDC regulations hampered by poor definitions, industry warns

The government’s consultation into draft regulations governing collective defined contribution schemes requires more work on definitions if these pension funds are to be properly implemented, with the Pensions and Lifetime Savings Association warning it could create a “back door” for unscrupulous employers. In a CDC scheme, contribution rates for employers and employees are set in advance, and members pool investment and longevity risk. These pension funds provide income in retirement, though the rate of increase varies and pension reductions are...

September 2, 2021

News, Slider2021, CDC, Regulation, UK

31AugAugust 31, 2021

Focusing on ‘What Should MENA Pension Systems Look Like for Next 50 Years’ Annual Arab Pensions Conference 2021 Convenes in Manama

How should we design the MENA pension systems for the next 50 years? How do we want our children and their children to retire one or two generations from today? This is the theme or big question the highly attended annual Arab Pensions Conference 2021 will be tackling in its next edition on the 16th and 17th of November. Read also Does it Matter to be Informal? Type of employment and political opinions in the MENA region Hosted in Manama digitally...

August 31, 2021

Event, News, Pension design2021, Fintech, Informal Sector, Labor Market, MENA, Regulation

September 2021

UK. The Pensions Regulator’s new criminal powers – how worried should companies and pension scheme trustees be?

US. SEC Is Exploring Reforms Regarding Private Fund Disclosure Of Conflicts Of Interest And Fees and Expenses

UK. Guy Opperman reappointed as pensions minister

Retirement Benefits Sector Report 2020

UK watchdogs team up to gauge value for money in DC pensions

US. House Democrats propose new retirement plan rules for the rich, including contribution limits and a repeal of Roth conversions

Danish pension sector adopts common climate reporting rules

Jamaica. John Robinson Is New Chairman Of The FSC

UK. Draft CDC regulations hampered by poor definitions, industry warns

August 2021

Focusing on ‘What Should MENA Pension Systems Look Like for Next 50 Years’ Annual Arab Pensions Conference 2021 Convenes in Manama