The EFRP issues a position paper on MiFID review
07 May 2012 - The EFRP has issued a Position Paper on the review of the Market in Financial Instruments Directive, in view of the ECON Committee vote on the MiFID II/MiFIR. The EFRP welcomes and supports the general purpose of the MiFID review. As long-term investors, IORPs are strongly in favour of transparency, information disclosure and stronger safeguards for investment activities, as promoted by MiFID II/MiFIR.
The EFRP is concerned, however, that some of the elements in the Proposals do not take the specific needs and characteristics of IORPs investment policies into account. In their current form, some elements of the MiFID II and MiFIR Proposals could have negative consequences on the financial activities of IORPs. The Position Paper is available here.
The EFRP at the Dutch Parliament
19 April 2012 - The EFRP, represented by its Secretary General, Mr. Matti Leppala, will participate today in the Symposium on pensions and Europe at the Dutch Parliament. The discussion will be introduced by MP Pieter Omtzigt, Rapporteur for the Dutch Parliament on the revision of the IORP Directive, and chaired by MP Roos Vermey. Moreover, MEP Ria Oomen-Ruijten, EP Rapporteur on the White Paper on Pensions, will take part to the first round of discussion, focussing on European legislative dimension and subsidiarity. Other panels will address the relevance of IORPs for the Netherlands and the interaction between stakeholders and institutions at EU level. Representatives of the Dutch Pension Federation, the Dutch National Bank, social partners, PGGM, of the University of Maastricht and the Europa College in Bruges will offer their contribution to the discussion.
You can download the EFRP submission, addressing the IORP Directive revision; the White Paper on pensions; Pension tracking services here.
Further information can be found at the following: http://www.tweedekamer.nl/nieuws/kamernieuws/newspage1085_symposium_europa_en_pensioenen.jsp#0
The EFRP heard at the House of Commons
26 March 2012 - The EFRP, represented by its Secretary-General, Matti Leppala, was heard by the Work and Pensions Committee of the British Parliament on EU pension policy. The EFRP was heard jontly with NAPF, represented by Ms. Joanne Segars, ABI, CBI and TUC. The oral evidence was held in public, at 16.30. The session could be also followed in streaming. You can download the supporting EFRP submission here.
EFRP and 7 other associations reject Solvency II-like rules for IORPs
01 March 2012 - The EFRP and seven other associations jointly issued a press release today to warn of the dangers of applying Solvency II to IORPs. Together, the European employers, worker and industry representatives urge the European Commission to reconsider its plans on occupational pensions. The joint initiative comes as the Commission holds a Public Hearing on the revision of the IORP Directive, in which the EFRP Chairman Patrick BURKE and several representatives from EFRP member organisations participate. Press release
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