INCLUDING: UK - Minister speaks about M&A, CANADA - Mountie finance chief steps down, UK - FTSE launches new REIT index
UK - Minister speaks out on M&A
Minister of state for pension reform, James Purnell, has reportedly said trustees could look at the pensions regulator as an ‘effective backstop’ for negotiations in mergers and acquisitions.
The speech, made at the TUC annual conference, was in response to recent high profile cases.
CANADA – Mountie finance chief steps down
The chief financial officer of the Royal Canadian Mounted Police (RCMP) has stepped down following a pension fraud investigation.
Deputy Commissioner, Paul Gauvin, has not left the force, but instead taken the role of special adviser on major capital projects after receiving criticism in David Brown QC’s report two weeks ago.
UK - FTSE launches new REIT index
FTSE has launched the EPRA/NAREIT Europe REITs and Non-Reits indices, suitable for index funds, warrants and exchange traded funds (ETFs).
Currently, the European REITs index includes 36 companies from six countries.
FTSE said the indices were transparent, free float adjusted and calculated on a daily basis.
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.