Tag: 爱上海自荐区

Teething problems to delay transaction cost reporting for DC schemes

first_imgTrustees of UK defined contribution (DC) schemes are unlikely to receive complete transaction cost information from their managers and providers in time for March 2018 year-end statements, according to a survey.Consultancy LCP surveyed 20 DC asset managers and five of the largest DC pension providers, and found that 56% of respondents were unlikely to be able to provide a full year of transaction costs in time for the information to be included in the next round of scheme statements.The situation would improve with time, LCP said, with over half of those surveyed indicating that they would be in a position to provide members with transaction costs for the whole year by the time required chair statements for the June year-end were due.In January regulation came into effect that, for the first time, required all asset managers to provide transaction costs in a standardised format to UK DC scheme trustees on request. The legislation was introduced by the Financial Conduct Authority (FCA) at short notice, and LCP noted that fund managers were experiencing initial problems in reporting as some data elements that were now required had not previously been monitored. In some cases managers had been forced to rebuild internal systems inside a year, LCP said.The consultancy said investment managers’ first priority was to provide transaction costs covering the first quarter of this year, and that prorating the costs would allow schemes to provide members with a proxy annual cost figure.“Longer term, the news is more positive,” said Laura Myers, LCP partner and head of DC, “with managers and providers seemingly confident that transaction cost information will be available and in a format that can be understood by all involved in running and saving into DC pensions”.“In light of the intentions of the FCA’s regulation in the first place, that appears to be a productive step forward,” she added.Illiquid assets, DGFs proving problematicHowever, the consultancy noted there could be a “major stumbling block” in providing DC scheme members with a comprehensive comparison of fund transaction costs.Almost half of survey respondents indicated envisaging problems in reporting transaction costs for some asset classes in a timely fashion, with illiquid asset classes such as property – and consequently some diversified growth funds (DGFs) – being the most problematic.Although the majority of DC savers are in default investment strategies, the requirement of managers to disclose transaction cost data also applies to asset classes traditionally offered as self-select options.The consultancy also noted that DGFs were a “fundamentally important asset class” for DC, and that it would be key for many schemes to have complete cost data for them.Any problems in providing transaction cost data for the broad range of illiquid assets, meanwhile, could affect their further adoption by DC schemes, LCP said.The consultancy’s survey found that four-fifths of providers have, or would shortly have, internal checks for reasonableness of transaction costs in place.“This is encouraging for trustees who rely on their providers as an aggregator and checker of this information,” said LCP.last_img read more

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Labour calls for ban on alcohol advertising

first_imgTVNZ News 12 July 2012 Labour is continuing to take a hard line on alcohol reform by proposing greater restrictions on advertising. The opposition party has been drumming up support in Parliament in recent weeks for legislation to set a minimum price for a drink. Labour’s latest call is for alcohol prices to be banned from television and radio advertising in the Alcohol Reform Bill, which is soon to be debated in Parliament. “Because we know that it’s the shifting of huge quantities that cause a lot of the problems we have,” Labour’s associate health spokesperson Iain Lees-Galloway said. “It’s a lot more than chest beating, it’s about trying to get results.” The Government said the bill already prohibits advertising alcohol discounted by 25% or more. “The changes that are recommended in the legislation are based on research and i think they are well founded,” Prime Minister John Key said. To get the ban into the bill, Labour needs the support of the opposition parties and the Maori Party.http://tvnz.co.nz/politics-news/labour-calls-ban-alcohol-advertising-4967073last_img read more

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34-Year-Old Woman Dies From Rollover Vehicle Accident

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis A 34–year–old Alpena woman lost her life Thursday morning when her vehicle rolled over on Werth Road in Alpena Township.According to MSP Alpena Post, drivers experienced delays Thursday morning when the road was completely shut down around 8am following the fatal accident.Troopers from the post along with deputies from the Alpena County Sheriff’s Office responded to the accident, which occurred on Werth Road near Spruce Road.After investigating the scene, police revealed the van left the roadway and overturned partially submerging the female driver in water.The 34–year–old was unresponsive at the time she was released from her van, and was transported to MidMichigan Medical Center Alpena where she passed away from her injuries from the in the crash.The Alpena County Sheriff’s Office, the Alpena County Central Dispatch, Alpena Township Fire Department South, and the Alpena County Ambulance assisted troopers at the scene.The victims name has not been released yet. WBKB News will keep you updated as we learn more details.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisContinue ReadingPrevious ACC’s Concrete Technology Program Celebrates 50 YearsNext Structure Fire Put Out Quickly With No Injurieslast_img read more

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