The rocky road ahead
The increasing emphasis on regulation could see the pension sector brought under the aegis of Solvency II - but it is not clear if this is welcomed by the industry, or indeed technically possible. Andrew Sheen Reports
Reform is the current buzzword of financial regulation. In the US, President Obama's financial white paper offers a five-point plan to improve oversight of the financial sector, while in the UK the Conservative opposition is vocal over its wish to end the tripartite system of supervision that has been blamed for not predicting the recent financial turmoil.
Brussels has not been idle in proposing reform either. The de Larosiere report and its recommendation to set up a European System of
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