Such requirements could have significant negative effects on IORPs, sponsors and members, he said.The Council of the European Union yesterday said it had agreed the revised EU directive for occupational pension funds with the European Parliament.Bouma said the association, which represents national associations of pension funds, welcomed the fact the IORP II Directive recognised IORPs were first and foremost institutions with a social purpose. “Considering the diversity of occupational pension systems across the EU and the central role played by national social and labour law, we are happy the member states retain flexibility to implement the IORP II Directive,” he said.PensionsEurope was also glad the delegated acts, which would pass many regulatory competences to EU level, were not included the legislation, Bouma said.Matti Leppälä, the association’s secretary general and chief executive, said the directive made the rules on IORPs’ cross-border activities clear. Even though the requirement for cross-border IORPs to be fully funded at all times was retained as a matter of principle, Leppälä said PensionsEurope welcomed the fact the possibility of being underfunded was now mentioned in the directive for the first time.“Furthermore, we are pleased that both transferring and receiving authorities have a role in cross-border transfers, their roles are clearly defined, and EIOPA’s (European Insurance and Occupational Pensions Authority) mediation is not binding,” he said.The modernised legislation makes pension funds better governed and more transparent, he said.“PensionsEurope is happy that the new rules are more principles-based than the European Commission’s original proposal, and therefore, they take better into account the diversity of occupational pension systems across the EU,” Leppälä said. PensionsEurope, the Brussels-based lobbying association, said it welcomes the modernised rules for pension funds under the IORP II Directive, which has now officially been agreed, and in particular the flexibility it allows member states in its implementation and its principles-based nature.Janwillem Bouma, chair of PensionsEurope, said: “I would like to warmly congratulate the EU member states, the European Parliament and the European Commission for finding an agreement on the modernised rules for pension funds.”He singled out the Dutch EU presidency and European Parliament rapporteur Brian Hayes for special thanks for taking on board many concerns that had been raised by pension funds.“In particular, PensionsEurope is pleased that the updated legislation does not contain new solvency capital requirements for IORPs,” Bouma said.
The Broward County Sheriff’s Office is reporting that a 56-year-old man is dead after he engaged responding officers with a gun.Officials say they were called to the 2500 block of Northeast 11th Court around 10:30 pm on Sunday for a domestic- related incident.When authorities arrived at the scene, the suspect identified as Miguel Gomez opened fire on the officers. The officers then returned fire.Gomez was pronounced dead at the scene, while no one else was injured.It is unclear what led to the initial incident. Authorities are still investigating.
FIRST SUPER-6 FANCIES They include MEET JUSTIN, who was noted making rapid headway to finish 2-1/2 lengths eighth to GANJA MAN over the straight last Saturday. He will appreciate the longer distance and with outgoing champion jockey Dane Nelson sticking with the ride. I take the Patrick Lynch-trained colt to win from CAPTAIN GRANVILLE, who was just behind him on his recent debut when third to SAMORA over 1500 metres. OFFICIAL REPORT, having beaten better in the not-too-distant past and now dropped in class, is preferred to the recent winner, FRANKENSTORM, in the third race, the Pick 3 Easy to Win Bonanza Trophy ($450,00-$400,000) claiming over the round five course. Nine have been declared, but OFFICIAL REPORT with Ruja Lahoe and the consistent FRANKENSTORM (speedy) are the two standouts. BARS OF GOLD, a winner in much better company when last raced on September 12, has been thrown in for a tag by trainer Anthony ‘Baba’ Nunes in lowly $180,000 and should slaughter his 15 rivals over 1500 metres with leading jockey Ellis retaining the ride. Despite the suspicious drop this low in class, BARS OF GOLD will report in good condition (seen at exercise) and should lead home GRAN CORAZON, PRINCE O’SHAUN, and EASTWOOD. The last three races in the first Super-6 should be won by the 2-y-o GOLDEN GLORY, with Aaron Chatrie riding for trainer Gary Subratie; CHIEF SECRETARIAT (Nelson up) in the Pick 3 Five Times A Day Trophy over 1820 metres, a non-winner of three event for four-year-olds and up; and DARLIN EMMA in the seventh for maiden four-year-olds and up over the straight. (1) MEET JUSTIN/CAPTAIN GRANVILLE (2) OFFICIAL REPORT/ FRANKENSTORM (3) BARS OF GOLD (4) GOLDEN GLORY/ OCEAN SEEKER (5) CHIEF SECRETARIAT/ ROUGH PATRICK (6) DARLIN EMMA/ALL FOR THE GLORY. – O.C. A huge upset by PRINCESS SALLEMA at 43-1 in the eighth race at Caymanas Park last Saturday ensured that the Pick-9 eluded punters and the carryover to tomorrow stands at $1.8 million. PRINCESS SALLEMA, one of three winners for the promising apprentice Bebeto Harvey on the card, also ensured that there were no takers in the late Super-6, resulting in a $1.3 carryover from race six to 11. The Pick-9 will be conducted from race three to 11 and the first Super-6 from race two to seven. We look at the first Super-6, which commences with the Pick 3 Simple Ting Fi Win Trophy over 1600 metres, to be contested by 11 maiden three-year-olds. MEET JUSTIN