News

GLOBAL - BNY Mellon Asset Servicing has launched a new Global Financial Institutions (GFI) group to support clients within in the banking, mutual fund and insurance sectors.

EUROPE - European Commission Green Paper proposals for an adjusted version of Solvency II standards for pension schemes could force firms to hold huge unnecessary surpluses, the Confederation for British Industry said.

Unfunded public sector schemes have been run like an "unstable Ponzi scheme", a report warns.

The European Commission has approved a government loan to cover the set-up costs for the National Employment Savings Trust.

UK - The European Commission has approved a government loan to cover the set-up costs for the National Employment Savings Trust.

NETHERLANDS - The Dutch merchant navy pension fund (Bedrijfspensioenfonds voor de Koopvaardij) is to take a stake in its asset manager, Mn Services.

GLOBAL - Multi-national companies have started to look at using in-house insurers to tackle their funding issues. Helen Fowler reports

PERU - Peru's private pension funds have set an ambitious goal of doubling the volume of their assets under management over the next six years.

CANADA - The Ontario Municipal Employees Retirement System will increase its contribution rate over the next three years in an attempt to tackle its growing pension deficit.

The Financial Services Authority has gone out to consultation on plans to amend rules regarding contracting out comparisons.