Letter from Brussels
The growth agenda
01 May 2013
The European Commission’s green paper, Long-term Financing of the European Economy, is a rarity– it gets applause from all quarters.
Anti-SII bloc victory?
02 Apr 2013
The bloc of EU member states opposed to the inclusion of Solvency II-inspired provisions in the planned IORP II Directive, appear to be on the road to victory.
Social and labour issues
01 Mar 2013
Disputes between Brussels and national governments are likely to emerge when the European Commission unveils in June its position on the rules concerning national social and labour law (SLL).
01 Feb 2013
Enhancement to the EU’s successful UCITS legislation for cross-border collective investments is now underway. But there are nagging concerns that whatever the outcome for UCITS V, the good work could ...
02 Jan 2013
There are increasing forecasts of widespread poverty for Europe’s pensioners in future decades. For a start, there are the 60m citizens in the EU who do not have an occupational scheme. Longevity...
Deaf ears for EC claims
01 Dec 2012
Summer 2013 might be some way off but it is when the European Commission intends to publish its proposals for IORP II. And signs from the Commission are that the usual procrastination is no longer...
Lack of trust blamed for low savings
01 Nov 2012
While euro-zone household savings, including retirement provision, grew steadily from around €600bn gross savings at the end of the century to a peak of €910bn in 2009, they fell to €834bn by 2011.
EU clears the decks
01 Oct 2012
The Brussels legislative programme for the financial sector will be as frenetic as ever from now until early 2013. It is a race to achieve as much as possible before electoral canvassing by MEPs...
Ins and outs of ‘flexileg’
03 Sep 2012
In the old days, an international investment bank could study a Brussels Directive or Regulation and make plans.
A welcome day
02 Jul 2012
You can almost hear the sound of satisfied occupational pension fund representatives rubbing their hands together at the news that the IORP II Directive has been postponement.
HFT debate hots up
01 Jun 2012
The debate in Brussels on high-frequency trading (HFT) is heating up. The main forum is the European Parliament’s economic and monetary affairs committee (ECON), which in July will clarify its...
EC backing for VC
01 May 2012
Radical changes in opportunities to invest in venture capital (VC) are emerging via the EU, including in Brussels, where the European Parliament is now vetting a draft Regulation on European Venture...
Politicians vs pensions
01 Mar 2012
Two strongly divergent positions concerning the European Commission’s proposals for a financial transaction tax (FTT) have emerged in Brussels. Pension fund interests vehemently oppose the tax, while ...
Don’t touch Article 18
01 Feb 2012
Investment rules for workplace pension funds should not be harmonised at European level. At least, this is the view aired in several responses to the European Insurance and Occupational Pensions...
IORP under pressure
01 Dec 2011
The European Insurance and Occupational Pensions Authority’s (EIOPA) call for advice on the subject of revisions to the EU’s 2003 IORP Directive on work-place-based pensions closes on 2 January 2012. ...
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