Good Governance for Pension Schemes

Author: Paul Thornton
Publisher: Cambridge University Press
ISBN: 9781139500333
Release Date: 2011-07-14
Genre: Law

Regulatory and market developments have transformed the way in which UK private sector pension schemes operate. This has increased demands on trustees and advisors and the trusteeship governance model must evolve in order to remain fit for purpose. This volume brings together leading practitioners to provide an overview of what today constitutes good governance for pension schemes, from both a legal and a practical perspective. It provides the reader with an appreciation of the distinctive characteristics of UK occupational pension schemes, how they sit within the capital markets and their social and fiduciary responsibilities. Providing a holistic analysis of pension risk, both from the trustee and the corporate perspective, the essays cover the crucial role of the employer covenant, financing and investment risk, developments in longevity risk hedging and insurance de-risking, and best practice scheme administration.

Cross Border Mergers in Europe

Author: Dirk Van Gerven
Publisher: Cambridge University Press
ISBN: 9781139502146
Release Date: 2011-09-08
Genre: Law

This discussion of the Cross-Border Merger Directive and its implementing legislation in each Member State of the European Union and the European Economic Area provides companies and their advisors with useful insight into the legal framework applicable to, and the tax treatment of, cross-border mergers throughout the European Economic Area. Analysis of the Community rules laid down in the Cross-Border Merger Directive and the Community rules on the tax treatment of cross-border mergers is complemented by chapters on the implementing legislation in each Member State, prepared in accordance with a common format and contributed by a practitioner from each state. Annexes contain the Cross-Border Merger Directive (Annex I), the Parent-Subsidiary Directive (Annex II) and a list of the implementing legislation in each Member State (Annex III).

Understanding Institutional Shareholder Activism

Author: Bo Gong
Publisher: Routledge
ISBN: 9781136015687
Release Date: 2013-12-13
Genre: Law

Institutional shareholder participation has long been considered as vital to good corporate governance yet its potential does not seem to have been realized. The recent banking crisis exposed the passivity of some institutional shareholders, many of whom appear to have chosen to sell their stakes in the banks rather than intervene or challenge the board when they realized the strategies followed by the banks were excessively risky. Institutional shareholders’ role to scrutinize and monitor the decisions of boards and executive management in the banking sector in the UK is considered by many to be a failure, resulting in the phenomenon of ‘ownerless corporations’, as described by Lord Myners. In China, despite the fast rising of institutional investment in the securities market, institutional shareholders have not yet played a contributory role in monitoring corporate managers in listed companies. Drawing on empirical evidence this book seeks to systematically analyses institutional shareholders’ incentives to activism to explain when and why shareholder activism will occur. The book puts forward a model which explains the factors that determine institutional shareholders’ propensity for activism. The model both elaborates the collective benefits of activism as a means of achieving managerial accountability asks whether and when shareholder activism is rational for any individual shareholder. The book then goes to on to apply these finding to both the UK and China in order to explain the varying levels of shareholder activism in each jurisdiction. The book is the first to take an in-depth look at institutional share-holder activism in China providing prescriptions to promote greater shareholder engagement and exploring the potential it holds for improving corporate governance in the region.

Governance and Investment of Public Pension Assets

Author: Sudhir Rajkumar
Publisher: World Bank Publications
ISBN: 9780821384701
Release Date: 2011
Genre: Social Science

And key messages -- Key principles of governance and investment management -- Governance of public pension assets -- Governance structures and accountabilities -- Qualification, selection, and operation of governing bodies -- Operational policies and procedures -- Managing fiscal pressures in defined-benefit schemes -- Policy responses to turbulent financial markets -- Investment of public pension assets -- Defining the investment policy framework for public pension funds -- Managing risk for different cohorts in defined-contribution schemes -- An asset-liability approach to strategic asset allocation for pension funds -- In-house investment versus outsourcing to external investment managers -- International investments and managing the resulting currency risk -- Alternative asset classes and new investment themes.

Corporate Governance Failures

Author: James P. Hawley
Publisher: University of Pennsylvania Press
ISBN: 0812204646
Release Date: 2011-04-15
Genre: Business & Economics

Corporate governance, the internal policies and leadership that guide the actions of corporations, played a major part in the recent global financial crisis. While much blame has been targeted at compensation arrangements that rewarded extreme risk-taking but did not punish failure, the performance of large, supposedly sophisticated institutional investors in this crisis has gone for the most part unexamined. Shareholding organizations, such as pension funds and mutual funds, hold considerable sway over the financial industry from Wall Street to the City of London. Corporate Governance Failures: The Role of Institutional Investors in the Global Financial Crisis exposes the misdeeds and lapses of these institutional investors leading up to the recent economic meltdown. In this collection of original essays, edited by pioneers in the field of fiduciary capitalism, top legal and financial practitioners and researchers discuss detrimental actions and inaction of institutional investors. Corporate Governance Failures reveals how these organizations exposed themselves and their clientele to extremely complex financial instruments, such as credit default swaps, through investments in hedge and private equity funds as well as more traditional equity investments in large financial institutions. The book's contributors critique fund executives for tolerating the "pursuit of alpha" culture that led managers to pursue risky financial strategies in hopes of outperforming the market. The volume also points out how and why institutional investors failed to effectively monitor such volatile investments, ignoring relatively well-established corporate governance principles and best practices. Along with detailed investigations of institutional investor missteps, Corporate Governance Failures offers nuanced and realistic proposals to mitigate future financial pitfalls. This volume provides fresh perspectives on ways institutional investors can best act as gatekeepers and promote responsible investment.


Author: Laura Cahill
Publisher: Bloomsbury Professional
ISBN: 1780432046
Release Date: 2013-06-30
Genre: Law

Pensions - A Handbook for the Family Law Practitioner is a practical guide dealing with pensions in the context of family law in Ireland. There is no other book in the Irish market dealing directly with this topic. Pensions are one of the most valuable marital assets and cause problems every day for family law practitioners. As a result, many barristers and solicitors employ a pension expert to advise on drafting pension adjustment orders, which leads to delays in cases and increased legal costs. The book provides a guide to practitioners through the minefield of pension adjustment orders and other pension aspects of family law. A highly practical book, it contains commentary, legislation, precedents and forms. It includes coverage of the Family Law Act 1995 and the Family Law (Divorce) Act 1996 and regulations. Table of Contents: The legislation and regulations governing Pension Adjustment Orders (PAOs); The types of pensions; The types of Order a Court can make; The Effects of the Court Orders; Restructuring pension funds and its effect on PAOs; Foreign pensions and their problems; Proposed input from a pension expert and the Ombudsman; Problems with the legislation and need for reform; Model PAO drafts.

Pension fund governance

Author: Michael Orszag, John Evans, John Piggott
Publisher: Edward Elgar Publishing
ISBN: 9781781007662
Release Date: 2008
Genre: Business & Economics

'This collection of essays on a rapidly developing topic is a valuable addition to the field and the editors must be congratulated on beginning to bring the area to the attention of thinkers and government (not necessarily the same thing), who are charged with dealing with the challenge of controlling private pension provision.' - Robin Ellison, Pensions

Corporate Governance Around the World

Author: Ahmed Naciri
Publisher: Routledge
ISBN: 9781134087891
Release Date: 2008-02-19
Genre: Business & Economics

The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers’ ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance. This book explores several national corporate governance reform experiences from around the world (including Canada, China, the United States, and the European Union) and offers an explanatory theory with regard to national systems of corporate governance. It also underlines corporate governance as a management tool and principle. The author argues that each country should be encouraged to build its own system of corporate governance which should be harmonized with its history, culture and the level of its economic development.

Institutional Investors and Corporate Governance

Author: Theodor Baums
Publisher: Walter de Gruyter
ISBN: 9783110893380
Release Date: 1993-01-01
Genre: Law

Der Sammelband enthält 23 Beiträge ausgewiesener Wissenschaftler und Praktiker des In- und Auslands zur Entwicklung institutioneller Anleger (Banken, Versicherungen, Investmentfonds, Pensionsfonds usw.), ihre Anlagepolitik, ihr Abstimmungsverhalten, die Auswirkungen auf die Geschäftsleitungen ihrer Beteiligungsgesellschaften sowie zu den in diesem Zusammenhang auftretenden rechtspolitischen Fragen.

Public pension fund management

Author: Alberto R. Musalem
Publisher: World Bank Publications
ISBN: STANFORD:36105115131083
Release Date: 2004
Genre: Business & Economics

"Until recently, 'public pension fund management' is an area that received little attention by policymakers, practitioners, and development agencies. Even though there is growing interest in the public pension fund reform both in emerging and developed countries, there are not many resources available in the market in this area. The World Bank decided to actively contribute to the international debate over the public pension fund management in order to better advise its clients and design its programs in this area. One of the most important aspects of this effort, and one in which the World Bank has some comparative advantage, is in bringing together country experiences in order to learn which policies have been working and which policies have failed. Public Pension Fund Managementhighlights the key themes and findings of the Second Public Pension Fund Management Conference which was organized by the Bank and took place in May 2003. This book addresses issues of governance, accountability, and investment policies and aims to foster ongoing dialogue and exchange of experiences across regions and between emerging and developed economies."

Pensions on Divorce

Author: Edward Hess (Judge)
Publisher: Family Law
ISBN: 1474310567
Release Date: 2018-06-26
Genre: Divorce settlements

Pensions on Divorce: A Practitioner?s Handbook explains in an accessible fashion one of the most technical and pitfall-strewn areas of family law practice. It looks at the law and procedure relating to the redistribution of pension rights on divorce, covering the different types of pensions, the powers and procedures of the court, the actuarial issues involved, and how to deal with the many different situations that can arise.

Corporate Governance

Author: Ramani Naidoo
Publisher: Juta and Company Ltd
ISBN: 1919930086
Release Date: 2002-01-01
Genre: Corporate governance

provide management and directors of companies, both private and public, with a reference work on the most important principles of corporate governance. It discusses the requirements of the Companies act, the recommendations of the 2002 King Report and recent requirements for directors of public-sector enterprises. Throughout the author makes clear how the relevant principles can be practically and progressively implemented.

Goal the Financial Physician s Ultimate Survival Guide for the Professional Athlete

Author: Mitch Levin
ISBN: 9781456602284
Release Date: 2013-02-01
Genre: Biography & Autobiography

The Financial Physician has struck again! Best selling author, speaker and trusted advisor has collaborated on yet another blockbuster. Within this book you will learn how to never be poor, achieve full financial health and live a prosperous life.