EIOPA proposes dual options on creation of EU-wide third-pillar system

first_imgEIOPA, however, identified three major obstacles for the creation of a single market, namely taxation, social law and contract law.Within taxation, the largest barrier to EU-wide savings, its analysis highlighted four areas where member states’ taxation policies affected the single market.The transfer of accumulated capital proved a significant taxation obstacle, with transfers between providers in different member states currently subject to withholding tax, or prohibited entirely.Differences on taxation on contributions paid in, and benefits paid out, regarding non-domestic schemes also caused concern.EIOPA said, currently, no case law created by the European Court of Justice (ECJ) prevented the discriminatory treatment of savings in non-domestic providers.Alongside this, there are also significant differences in taxation policy on investment income, and in tax-relief arrangements on contributions, which vary widely among member states.Social and contract law has also proved problematic, with a lack of harmonisation across member states resulting in large product variety, EIOPA said.To combat this, the regulator provided the directive and regulation options.It said there was a strong case for a directive to establish a single market, given that common regulation already exists for the majority of personal pension providers.With regards to a second regime, EIOPA said there was strong interest to further explore the pros and cons of such an approach, as its own analysis should not been seen as exhaustive.It added that any new regime would also need tackle the de-cumulation stage, and that it would need to focus more on defined contribution products and product standardisation.Gabriel Bernardino, chairman at EIOPA, said its conclusions were consistent with stakeholder contributions, which agree that a single third-pillar market would benefit consumers, providers and the EU economy.“Pensions should be dealt with from a European perspective,” he said. “EIOPA is committed to strongly promote this single market for pensions.“Our report should lay the foundation for future EU initiatives aimed at fostering sustainable, adequate and safe pensions for EU citizens.” The European Insurance and Occupational Pensions Authority (EIOPA) has written to the European Commission to submit its initial analysis on the creation of a single market for third-pillar pensions.The Frankfurt-based regulator was requested by the Commission to submit a report looking at the required prudential regulations and consumer-protection measures required to form an EU-wide single market for personal pensions.In its initial response, EIOPA has identified two feasible options, a directive to introduce common rules for current and future third-pillar savings, or regulation to create a new regime for common EU savings vehicles.The regulator said its finding supported either option, in its correspondence with the Commission.last_img read more

CGG and TGS Expand Barents Sea Seismic Coverage

first_imgCGG and TGS will conduct the Greater Castberg TopSeis survey in the Barents Sea during Q2 2019. The survey is 5,000 sq km, and will be acquired and processed with the latest developments of CGG’s TopSeis acquisition and imaging technology.The survey will include the highly prospective Castberg area, and cover existing and newly awarded licenses in addition to open acreage with several play models in multiple geological layers. The acquisition is expected to start late Q2 2019 with final delivery to clients in Q4 2020.Kristian Johansen, CEO, TGS, said: “Greater Castberg will expand the great TGS data coverage in the Barents Sea. The survey sits in the right place of the Barents Sea, and production licenses will start producing from this area in 2022. The area calls for high-technology solutions, and a tailor-made solution for this area is created in close collaboration with the clients and within the JV.”Sophie Zurquiyah, CEO, CGG, said: “Our unique TopSeis solution combines an innovative source-over-spread acquisition geometry with CGG’s advanced imaging technology. This unique solution enables our clients to delineate shallow-to-intermediate depth targets in the Barents Sea, which are not resolved by conventional methods. The new survey will add to CGG’s library of modern broadband multi-client data in the Barents Sea, an excellent resource for optimizing the discovery and development of hydrocarbons.”The project is supported by industry funding.last_img read more

Serie A giants lead race to sign Dutch forward

first_img Promoted ContentBest & Worst Celebrity Endorsed Games Ever Made7 Mind-Boggling Facts About Black HolesBest Car Manufacturers In The WorldThe Very Last Bitcoin Will Be Mined Around 2140. Read More12 Iconic Actors Whose Careers Were Stunted By A Single Movie10 Risky Jobs Some Women Do9 Facts You Should Know Before Getting A TattooWho Is The Most Powerful Woman On Earth?What Happens To Your Brain When You Play Too Much Video Games?Birds Enjoy Living In A Gallery Space Created For Them7 Ways To Understand Your Girlfriend Better7 Universities In The World Where Education Costs Too Much Loading… Lyon club president Jean-Michel Aulas stated last week that his opposite number Josep Bartomenu confirmed Barcelona could not afford the former Manchester United forward. Reports from Sky Italia, via Diario AS, claim Stefano Pioli’s side will now make a move for Depay, as part of deal which could see Lucas Paqueta moving in the opposite direction. Serie A giants AC Milan have emerged as the new favourites to sign Barcelona transfer target Memphis Depay. Ronald Koeman has been heavily linked with a move for his former Dutch international star, with Lyon rumoured to be open to a €30m offer.Advertisement Read Also: Guardiola: My commitment remains the same on MessiDepay has confirmed his intention not to sign a contract extension beyond the end of his current one, which expires in July 2021, with Paqueta under contract at the San Siro until 2023.However, the Brazilian international has struggled to command a first team spot in Milan, with just 24 league starts and one goal during his two seasons in Italy.FacebookTwitterWhatsAppEmail分享 last_img read more

Broward County Jail Inmate with Coronavirus Dies at Hospital

first_imgA Broward jail inmate who was being treated for coronavirus has died, officials announced Wednesday.The inmate was identified as 64-year-old Alan Pollock by the Broward Public Defender’s Office, which had been representing him.Records show that Pollock was a convicted sex offender who was jailed for a probation violation. He was jailed last month after being accused with changing his address without permission. Pollock was most recently held at the North Broward jail in Pompano Beach.“An inmate was being hospitalized and treated for COVID-19. He passed away yesterday evening,” sheriff’s spokeswoman Gerdy St. Louis said Wednesday. “His cause of death is pending investigation at this time.”Broward County’s jails, which house more than 3,000 inmates, have had at least five inmates test positive for COVID-19, according to the Sheriff’s Office.The Broward Sheriff’s Office says all new inmates are being screened for the virus before they are placed into the inmate population. Inmates are also being told to follow the guidelines of the Centers for Disease Control and Prevention for washing hands, refraining from touching their faces, and reporting symptoms immediately.Additionally, all in-person jail visitations have ended and have been substituted by video visitations.The Sheriff’s Office says Pollock showed no signs of having coronavirus when he was arrested in mid-March.On March 31, during a routine screening, he declined to take a medical test that was not tied to coronavirus.He was then moved from the jail’s infirmary to a hospital for evaluation and treatment. He tested positive for coronavirus at the hospital on April 1.The Broward Public Defenders’ Office says Pollock died at Northwest Medical Center on Tuesday afternoon.A March 19 court filing states that Public Defender Howard Finkelstein had tried to have him released from jail last month, citing coronavirus concerns.According to executive chief public defender Gordon Weekes, the motion for Pollock’s release was denied possibly due to his previous offenses.“We knew there was going to be a certain population that was going to be immune-compromised and vulnerable to contracting the virus,” Weekes says “We have to make sure these folks who have to remain in jail are being properly tested, properly distanced from other inmates and afforded appropriate medical care so they can survive exposure to this disease.”last_img read more

Pitt, Penn State to meet in Big 10-ACC Challenge

first_imgPittsburgh head coach Jamie Dixon, left, talks with Talib Zanna ina game on Nov. 9, 2012 in Pittsburgh. (AP Photo/Keith Srakocic) STATE COLLEGE, Pa. (AP) — In-state rivals Penn State and Pittsburgh are facing off again — on the basketball court.The Pennsylvania programs will be pitted against each other in this year’s Big Ten-ACC Challenge. The Nittany Lions will visit the Panthers on Dec. 3.Penn State and Pitt last met in 2005, when the Panthers won 94-51 in Pittsburgh.Pitt, which is moving from the Big East to the ACC next season, leads the all-time series with Penn State 76-68.The schools are also renewing their longtime football rivalry for a four-year series starting in 2016.last_img read more

Southee’s swing: Tim Southee on par with Sachin Tendulkar’s number of sixes in test…

first_imgAdvertisement With a red cherry, swinging the ball in the air is the attribute that one would correlate Tim Southee with rather than a clean swing of a bat to dispatch the ball into the stands. But as per the stats, Southee is also pretty good at the latter skill.Advertisement Coming into bat at No.8 during the second innings of the first Test in Galle, Southee achieved a rare feat with the bat by equalling the tally of the number of sixes hit by the legendary Sachin Tendulkar in the longest format.Advertisement During the pacer’s short-lived innings of 14 off 19 deliveries, he hit a solitary six which was enough to get his tally to 69. He just needs one more to be level with Pakistan’s Younis Khan.Sachin Tendulkar reached 69 sixes in 329 innings while it only took 89 innings for the right-arm seamer. The current record for the maximum sixes in the longest format is held by Southee’s former teammate and captain Brendon McCullum, who has hit a staggering 107 sixes over the course of his career.Advertisement Read Also:Cherry loves Boult: Sri Lankan players puzzled after ball gets stuck into Trent Boult’s helmet\https://www.sportsindiashow.com/zimbabwe-great-grant-flower-claims-fed-lack-freedom-security-pakistan/ Advertisementlast_img read more