IPE's EU Coverage – Page 6
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FeaturesMiFID II reforms: Bye bye unbundling?
A key part of the 2018 MiFID II package, the requirement to unbundle research from execution costs shook up the European asset management industry and changed the relationship between investment managers and their clients.
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NewsInsurance Sweden says SFDR should be simpler, not used as product label
Design of regulation makes it hard to convey information to the customer, lobby group says
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NewsKeva positive on idea of investigating stabilisation mechanism
”Our defined benefit system has not been very ‘defined’ in the longer term,” says head of Keva’s EU pensions team
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Asset Class ReportsDebt investors face European uncertainty
High interest rates and inflation are the biggest concerns as recession looms
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Opinion PiecesAgreement on Stability and Growth Pact spells Austerity reload
The reform of the Stability and Growth Pact (SGP) proposed by the European Commission (EC) in March 2023 had been criticised from all sides, but just before Christmas, European finance ministers agreed on new terms. The SGP had been suspended in response to the COVID-19 crisis but comes back into force in 2024.
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Opinion PiecesPensions are instrumental in Europe’s unfinished capital markets project
This summer will mark 10 years since Jean-Claude Juncker, former EU Commission president, outlined a vision for a European Capital Markets Union (CMU) – a project both uncompleted and still acutely needed.
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FeaturesNet zero’s bond index problem
The fixed-income space has not been short of sustainability innovations over the years.
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NewsNBIM extends long-running Niger Delta engagement with Shell, Eni
Norwegian SWF says ‘still a forward-looking risk of norm violation’ by the oil companies
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NewsIrish supervisor warns master trusts to keep up standards despite pressure
Pensions Authority reveals results of this year’s scrutiny of fast-growing MT sector
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NewsEU watchdog spells out rules for ‘transition’-labelled funds
Guidelines will be formally published next year
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NewsPension fund money makes up smaller slice of asset managers’ AUM
European asset managers seen tending €29trn in 2023 after stronger markets this year
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NewsSkandia stows $100m in Dutch-backed sustainability blended-finance fund
Swedish pensions firm praises ‘innovative’ structure of SDG Loan Fund for easing flow of institutional money to developing countries
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AnalysisConcerns grow over fate of EU sustainability due diligence law
One of the biggest battlegrounds for the CSDDD is proving to be the inclusion of the finance sector
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NewsEIOPA chair pushes for action on pension dashboard, auto-enrolment, PEPP
Petra Hielkema reveals frustration that European Commission has not taken further action on a pensions dashboard
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Special ReportEuropean pension fund class actions take off on a steep learning curve
What positive developments can we report relating to class actions in UK and European pension funds? What regulatory challenges still need to be overcome to facilitate (for instance, simplify) the environment for class action by UK and European institutions? Where are the key gaps in knowledge among pension funds?
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Special ReportClass actions: Is Europe catching up with the US?
Europe’s institutional investors are latching on to the rewards of joining class actions against investee companies. Many of these are securities lawsuits, pursued when a publicly listed company has not properly disclosed or has misrepresented significant information, affecting the share price when the truth emerges. But so far, the vast majority of these have been in the US. In 2022, nearly $4.9bn (€4.6bn) was recovered in the US courts, according to Institutional Shareholder Services. So, what about class actions in Europe? “The US has had a class action system for over a hundred years that can be adopted for almost every cause of action, whereas the UK has only had class actions since 2015 and it is only available for competition cases,” says Harry McGowan, partner in the securities litigation department at law firm Stewarts.
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Special ReportShareholder class actions in Europe: the benefits and risks of participating
Litigation outside the United States, and in particular in Europe, has been on the rise since the US Supreme Court’s landmark 2010 decision in Morrison v. National Australia Bank. In Morrison, the US Supreme Court ruled that “foreign” (non-US) investors cannot bring federal securities lawsuits in US courts to recover investment losses relating to foreign-issued securities traded on foreign exchanges (known as “F-cubed” claims). As former Justice Antonin Scalia explained, the concern was to prevent the US from becoming “the Shangri-La” of class-action litigation for lawyers representing those allegedly cheated in foreign securities markets. Although federal courts have since struggled to apply Morrison’s effect test consistently, it is clear, more than 10 years later, that the decision has had its intended effect.
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FeaturesIs the US economy finally heading for a soft landing?
Having come to terms with the higher-for-longer mantra, markets are grappling with ‘higher-for-even-longer’, as US economic resilience continues to challenge expectations of weakness while reducing the prospects for earlier interest rate cuts from the Federal Reserve.
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NewsVarma picks Ortec for performance management software
Finnish pensions heavyweight says Ortec product gives better understanding of sources of value
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Special ReportPlenty left for EU sustainable finance policy to tackle
European policymakers have gone full throttle on sustainable finance over the past five years. Do they have the wherewithal to finish the job?
