US - Northern Trust has launched a solution aimed at helping institutional clients adapt to new accounting standards.
Debra Clayton, client reporting product manager at Northern Trust, said: "We used the toolkit approach because we feel that by providing an extensive library of resources to our clients, we can offer more comprehensive solutions for every aspect of FAS 157 implementation.
"We wanted to give clients the information needed to not only assist them in preparing their disclosures, but also to document their valuation policies and procedures."
The product includes asset level pricing details, extensive documentation of pricing methodologies, customisation of level determinations and thought leadership on the challenges facing the industry related to FAS 157.
Addressing more than 50 categories by asset type and market, the toolkit assists clients in determining level designation of category 1, 2 or 3 for each asset, as required by FAS 157.
It also includes a report that provides information related to the price type, price source and exchange - key elements in determining fair value under FAS 157.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.