Nomura Asset Management UK (NAM) - local arm of the Japanese financial group - has received the go-ahead from the the Spanish Stock Exchange commission (Comisión Nacional del Mercado de Valores) for the distribution of its global fund range.
Laura Palomino, NAM's business development manger for Spain and Portugal, said that the move anticipated Spanish pension reform, which means all pension funds must be outsourced to external asset managers before November 2002.
She added: [This] is just the green light and the real job now begins. Nomura Asset Management has a business plan for the Spanish market, which targets not only institutional investors but the fund-of-funds and private banking channels of distribution as well.
By Madhu Kalia
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers