Europe
ESMA proposes reform to EU derivative regulation
The European Securities and Markets Authority (ESMA) has suggested changes to the governance of over-the-counter derivatives markets including a new process for handling regulatory differences between EU states.
Canada Lifes seals longevity risk deal with Aegon
Canada Life’s reinsurance division has reached a deal with insurance giant Aegon to cover the longevity risk on a €6.0bn (£4.3bn, $6.7bn) portfolio of Dutch annuities.
UK Teacher’s Pension highlights QROPS public sector loophole
The UK Teachers’ Pension scheme has advised its members there is a loophole in the current rules surrounding the transfer of public sector pensions that would allow access to certain qualifying recognised overseas pension schemes (QROPS).
EU body called on to speed progress on AIFMD passport
The limited progress in opening access across the European Union to fund managers outside the region seeking to offer alternative investment funds (AIFs) could be seen as a reluctance to act, according to one specialist lawyer.
UK expats must review wills ahead of EU succession rules
UK residents with assets in Europe could become liable for a heavy tax bill on their death as a result of changes in EU cross-border succession rules due to become effective next week.