The data is based on pensions data regulatory reporting. The statistics contains up-to-date and high-quality data and provides a comprehensive picture of the European occupational pensions sector, including country breakdowns that allow for comparability.
Article 89(1) of Regulation (EU) No 648/2012 provides that, for a transitional period until 18 June 2021, the clearing obligation set out in Article 4 of that Regulation shall not apply to OTC derivative contracts that are objectively measurable as reducing investment risks directly relating to the financial solvency of pension scheme arrangements and to entities established for the purpose of providing compensation to members of pension scheme arrangements in case of default. The Delegated Regulation (EU) 2021/962 has extended until 18 June 2022 the transitional period.
The European Central Bank has launched a public consultation on proposed amendments to its Guidance to fit and proper assessments for members of the Management Body, whether in a management function (executive members) or in a strategic oversight and control function (non-executive members), of all entities under direct supervision by the ECB, whether credit institutions or financial holding companies, as well as less significant entities in the context of banking licences or qualifying holdings. The proposed amendments also concern the related questionnaire.
The amendments aim to raise the level of transparency and improve the quality and efficiency of the assessments and verification processes of professionalism and integrity requirements, and introduce supervisory expectations regarding climate risks and gender diversity.
The consultation will end on 2 August 2021.
Monte Titoli has published the amended provisions regarding bond issues with a PiK (Payment In Kind) clause of the
Instructions for the CSD Service.
As a result of this amendment, it is no longer necessary to send declarations attesting to a subscription or subsequent purchase exclusively on behalf of so-called “non-taxable investors”, or foreign investors resident in White List Countries that have provided self-certification for exemption. During initial subscription and for subsequent transfers, securities with PiK clauses will continue to be blocked in the accounts of intermediaries. The relevant movements must be authorised by intermediaries and a specific communication sent to Monte Titoli.
