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Retirement System Risk Management - Implications of the New Regulatory Order (Hardcover)
Loot Price: R3,523
Discovery Miles 35 230
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Retirement System Risk Management - Implications of the New Regulatory Order (Hardcover)
Series: Pension Research Council Series
Expected to ship within 10 - 15 working days
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In the wake of the worst financial crisis since the Great
Depression, lawmakers and regulators around the world have changed
the playbook for how banks and other financial institutions must
manage their risks and report their activities. The US Congress
passed the Dodd-Frank Wall Street Reform and Consumer Protection
Act, and the European System of Financial Supervision (ESFS) is
also crafting a framework to supervise regulated financial sector
institutions including banks, insurers, pension funds, and asset
managers. The implosion of the financial sector has also prompted
calls for accounting changes from those seeking to better
understand how assets and liabilities are reported. Initially banks
were seen by many as the most important focus for regulatory
reform, but other institutions are now attracting policymaker
attention. There is logic to this in terms of managing systemic
risk and ensuring a level playing field that avoids arbitrage
between institutional structures. Yet the nature of pension and
insurer liabilities is so different from that of bank liabilities
that careful attention is needed in drafting appropriate rules. The
new rules are having both direct and spill-over effects on
retirement systems around the world. The first half of this volume
undertakes an assessment of how global responses to the financial
crisis are potentially altering how insurers, pension plan
sponsors, and policymakers will manage risk in the decades to come.
The second half evaluates developments in retirement saving and
retirement products, to determine which and how these might help
meet shortfalls in retirement provision.
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