The revisions to the European Commission's (EC) directive on occupational pensions have been a long time coming. As such, the draft Institutions for Occupational Retirement Provision (IORP) II Directive contained just one shock, and that surprise came as a disappointment to many.
On the one hand there was relief that plans to introduce a Europe-wide solvency regime did not feature. On the other hand there was displeasure that the draft did not loosen the regime for cross-bo...
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