GLOBAL - Talks between Standard & Poor's (S&P) and Schroder Salomon Smith Barney (SSSB) over merging the firms' global index businesses have "reached the point of no return", according to a senior source at S&P. A deal was due to be signed by the end of September, just as this magazine went to press.
IPN’s sister publication Global Pensions exclusively revealed in March that the talks, which started in November 2001, were in the process of being concluded. But in the last six months they stalled over “legal subtleties”.
At the moment, S&P sells licences for the use of its indices but in the tie-up with SSSB’s index business it will instead sell data to users to allow them to compare themselves to benchmarks.
The move will allow S&P, traditionally used by passive managers, to challenge MSCI’s dominance of active benchmarks.
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.