first_imgIt marks a clarification of the position of the FSB, which, in late 2013, would not be drawn on whether pension funds would be classified as systemically important.Its 2014 consultation on non-bank institutions also did not directly address the status of the pensions industry.The consultation, which will run through the end of May, asked respondents to explain why pension funds should be excluded or, alternatively, if the risks associated with the failure of a pension fund should warrant their inclusion as systemically important entities.Mark Carney, chairman of the FSB and governor of the Bank of England, said the second consultation was an important step towards identifying those NBNI bodies deemed too big to fail.“It will also enhance authorities’ understanding of the risks to global financial stability posed by the activities of entities in financial markets, including the distress or disorderly failure of non-banks and non-insurers,” he said.However, pension funds could still be affected by new layers of regulation through their involvement with larger asset managers, with the consultation suggesting there could be an absolute threshold of $100bn (€92bn) in assets to trigger a manager’s inclusion.“In addition to ‘size’, the FSB and IOSCO also considered the possibility of setting additional materiality thresholds based on ‘global activities (cross-jurisdictional activities)’,” the consultation said.“However, since data regarding the international activities of NBNI financial entities are often not disclosed or reported to the relevant authorities, the FSB decided not to set additional materiality thresholds based on ‘global activity’.”An absolute threshold based on assets under management could also impact a number of pension funds through their ownership of large asset managers, such as ABP’s ownership of APG and several large Dutch schemes’ stakes in MN.Cecile Sourbes explores whether a pension fund can be too big to fail,WebsitesWe are not responsible for the content of external sitesLink to FSB consultation on NBNI entities of systemic risk to financial system Pension funds are not to be classed as systemically important financial institutions but could still be subject to increased regulatory burdens proposed for ‘too big to fail’ asset managers.A consultation by the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) on which non-bank, non-insurer global institutions should be classed as systemically important financial institutions (NBNI G-SIFIs) suggested that pension funds could be excluded.It said pension funds posed a low risk to “global financial stability and the wider economy due to their long-term investment perspective”.The FSB’s paper also suggested pension funds were likely to be captured by additional regulation due to their relationship with asset managers but sought advice on whether the reasons for excluding the industry as a whole were sound.last_img read more

first_imgRoquan Smith’s mysterious absence came to an end Wednesday as the star linebacker returned to practice.But Smith’s status for Sunday’s game in London is less certain, even though he told reporters he will play. “He’s completely a personal issue,” Nagy said Monday. “It’s for us something that we’re going to leave at that right now.”When pushed for more information on Smith’s availability this week Nagy stood firm.”Personal issue,” he repeated. “I’m just going to say it was a personal issue. I’m not getting into anything else until… I’m just going to completely keep it at that.” Tyreek Hill injury update: Chiefs receiver (shoulder) to resume practice “We’ll see,” Bears coach Matt Nagy said.Smith was a surprise inactive just before Sunday’s win over the Vikings for a “personal issue,” and it was rumored he had not been acting like himself around the team facilities in recent days. Related News Kirk Cousins apologizes to wideout Adam Thielen after Week 4 misfires Derek Carr on Vontaze Burfict’s season-long ban: ‘I think that’s a little excessive’ Smith, a 2018 first-round pick of out of Georgia, has 145 tackles over 19 career games and entered Sunday with 24 tackles through the first three games of the season. He was seen standing on the sidelines in a sweatsuit as he watched Sunday’s game and left the stadium without speaking to reporters.”It’s something that’s in-house,” fellow linebacker Khalil Mack said Tuesday. “But at the same time, we know he’s going to get better and we look forward to him getting back out there with us.”Chicago will face Oakland in the first NFL game at Tottenham Hotspur Stadium at 1 p.m. ET Sunday.last_img read more

first_imgJoin DAZN and watch more than 100 fight nights a yearDon’t count Amanda Nunes among those who are looking to lace up a pair of boxing gloves.The current baddest woman on the planet and two-division UFC champion has no interest in stepping into the ring despite numerous reports suggesting a boxing match with the undefeated Shields is in the works. “No and never,” Nunes told Sporting News when asked if she had ever considered boxing. “I never even knew that this was a thing until recently.”Shields will be in attendance at UFC 245 on Saturday at T-Mobile Arena in Las Vegas when Nunes defends her UFC women’s bantamweight title against Germaine De Randamie. Should Nunes defeat the Dutch kickboxer, she would have effectively cleared out the 135-pound division as well as the featherweight (145-pound) division with victories over Ronda Rousey, Miesha Tate, Holly Holm and Cyborg.There is a prevailing thought that Nunes would seek out new challenges should she defeat De Randamie, and a boxing match with Shields, a two-time Olympic gold medalist and fellow two-division champion, could be just what the doctor ordered in that regard. The fight would also yield a massive payday and generate intrigue across both sports. UFC president Dana White told BT Sport that there have been talks about a potential clash between the fighters. Nunes is open to fighting Shields, but on her terms. “I’m not the type of fighter who is looking for new things,” Nunes said. “If she wants to see me, she has to come to my world. I’m an MMA fighter. If you want to see me, come grapple with me and strike with me in MMA. I’m not a boxer.”Nunes made it clear that she is “happy” with her current situation and looking forward to defending her featherweight title in 2020. If Shields wants a piece of her, Nunes said, then she had better begin training in MMA gyms to work on her grappling, takedown defense and MMA striking. LAS VEGAS — It has become the worst kept secret in combat sports: Mixed martial artists are looking to step into a boxing ring, not necessarily for the challenge, but for the pay that’s attached to doing so. Ever since Conor McGregor made a career-high payday by entering the squared circle with Floyd Mayweather Jr., many MMA fighters have sought to secure the proverbial bag by calling out some of the biggest names in boxing. Jorge Masvidal and Tyron Woodley have taken aim at Saul “Canelo” Alvarez, Stipe Miocic and Francis Ngannou have taken a shot at Tyson Fury, Cris “Cyborg” Justino has challenged Claressa Shields and numerous other fighters have called out Mayweather.  Until then, Nunes is perfectly fine with fending off all comers inside the Octagon. “We’ll see what happens after Saturday but Dana White always has some good ideas,” Nunes said. “We’ll sit down and talk about it.”But it won’t be boxing.”last_img read more