Regulation

UK - A former trustee has questioned The Pensions Regulator's powers when it comes to enforcing contribution orders against foreign parent companies.

The Pensions Regulator will take enforcement action against trustees who fail to keep scheme data up to scratch.

US - The US Department of Labor (DOL) and the Treasury are requesting feedback on the implications of integrating a lifetime annuity arrangement into defined contribution plans.

UK - The Conservative Party has confirmed a large chunk of its pensions strategy in a major policy document on economic growth.

Nearly one-third of panellists said the investment rules they operate under are too restrictive and could prevent them from reaching their investment goals.

Over 63% of the respondents of Global Pensions 100 Panel said US president Barack Obama's proposals to help keep banks from becoming too big to fail will have a positive effect on the asset management industry.

US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds Medewerkers Apotheken (PMA) has filed a federal court lawsuit against State Street Bank and Trust alleging breach of fiduciary duties and securities fraud following losses in a 120/20 fund.

US/EUROPE - A group of investors led by the Retirement System for the General Employees of the City of Miami Beach have won a class action trial against Vivendi and will be entitled to recover an estimated US$9.3bn.

US - The New York City Employees' Retirement System (NYCERS) will sue Apple's Steve Jobs and other key managers for the second time after an appeal court granted the pension fund the right to do so.

The Reader's Digest Association says The Pensions Regulator will not approve a rescue plan for its pension scheme, throwing the future of its UK business into jeopardy.