The French Parliament (National Assemblée) agreed on the increase of the French Financial Transaction Tax (FFTT) from 0.2% to 0.3% (see our NewsFlash of 28th October 2016). The final reading of the French Finances law is still to be approved by the French constitutional court. The proposal to extend the scope of the FFTT to intraday transactions (high frequency trading) has been turned down.Download our NewsFlash as PDF (opens in new window).
Last Monday, 10th October 2016, the Ministers of Finance from the ten European member states that strongly support the European Financial Transaction Tax (EUFTT), held an informal meeting regarding the future of the tax. Following this meeting it appears that the introduction of an EUFTT is closer than ever as the group has now mandated the European Commission (EC) to draft a directive on this tax on financial transactions.
This morning at 9:00 AM Sikko van Katwijk, Chairman of KAS BANK’s Managing Board, opened trading at the Euronext Amsterdam exchange. Joining him at the opening were several clients from the financial and pensions industries.KAS BANK opened trading on the occasion of the bank’s recent win of “Custodian of the Year” at the annual European Pensions Awards held in London in early June. In addition to the recognition of the role of KAS BANK, this award is seen by KAS BANK as reward for the prominent and innovative role of the entire Dutch pensions and securities industries within Europe.
KAS BANK was named “Custodian of the Year” at the annual European Pensions Awards 2016, held in London recently.
In a new move for the Netherlands, the Pension Fund PGB will be the first to offer labour unions the choice between a defined contribution or defined benefit scheme, or a combination of the two. In order to facilitate this new structure implementation of the DC scheme went live on January 4th 2016. In order to ensure a smooth transition to this new structure, Pension Fund PGB worked closely in partnership with KAS BANK. As a specialist in the area of custody and investment administration, KAS BANK is bringing this expertise to act as a partner of Pension Fund PGB to administer this new DC scheme. In total, this new structure covers a portfolio of more than EUR 21 billion assets under administration. Read our NewsFlash as PDF.
KAS BANK puts innovation and client service first, as it commits to the UK pensions market with a new five-year strategy.KAS BANK has appointed Pat Sharman, formerly its Director of Pensions UK, as Managing Director, as it today approves a five-year strategy for delivering superior innovation and service to the UK pensions market.“We’re uniquely positioned to give UK pension schemes the specialist and expert services they need to meet the challenges of the coming years,” says Sikko van Katwijk, Chairman of KAS BANK’s Managing Board. “We’re a pure custodian, free from conflict of interest – something no competitor can claim. We’re also dedicating to being a specialist custodian to UK pension funds, meaning we can offer a level of service that’s unique in this market.”
Fitch has published a Rating Action Commentary for KAS BANK. The long-term issuer default rating is A-. The outlook is stable.
Last night KAS BANK was awarded European Marketing Campaign of the Year for our Custodian Principles at the Funds Europe Awards in London.Download our NewsFlash The Custodian Principles recognised as Marketing Campaign of the Year.
Real-time transparent access to the asset and transaction costs of your investment portfolio for your own pension fund to enable you to draw comparison to your peers. That is the added value of KAS BANK’s cost transparency solutions for pension funds. Clear, consistent and comprehensible information makes a difference to the outcomes for members of your pension fund. Independent cost information forms the basis for informed decisions by trustees and directors on your pension fund investment portfolio, as well as your advisors. But you can also use this information for your annual report and in your communications to your members or corporate sponsor.
KAS BANK Newsflash 12 November 2014
We are proud to announce that we were awarded the Custody Risk Award for ‘European Pension Fund Custodian of the Year’ for the second consecutive time. Additionally this year we also received the Custody Risk Award for ‘Custodian of the year – Benelux’. The awards were presented at the annual European Custody Risk Awards ceremony in London last night.
European Pension Fund Custodian of the Year & Custodian of the year – Benelux The European Custody Risk Awards are an initiative of Custody Risk, a European magazine for risk managers in the financial industry. KAS BANK was nominated (with BNY Mellon) in two categories and won both awards. An independent panel of financial specialists judged the nominations and decided on the winners. The judges’ panel praised KAS BANK as “the bank for pension funds, helping trustees and directors to cope with new rules and regulations. The bank has welcomed numerous new pension fund clients in 2014 and pushes the boundaries to set new industry standards. KAS BANK is among the first European custodian banks providing information on asset management and transaction costs."
“Confirmation and recognition of KAS BANK's growing focus on pension funds”, says Sikko van Katwijk, member of the Managing Board The award was received by Sikko van Katwijk, member of the Managing Board at KAS BANK N.V. In his acceptance speech, Sikko commented: “It is an honour to receive these awards and on behalf of the KAS BANK team we accept them with great pleasure and pride. It is very motivating for us to get confirmation and recognition of KAS BANK's growing focus on pension funds. Although providing asset safety remains an important role, being a custodian to our pension fund customers nowadays requires an innovative approach. Our role as a committed custodian is evolving towards the trusted fiduciary agent to our clients: assisting them in getting more cost transparency, allowing them to benchmark themselves against industry peers, empowering them in execution of their responsibilities towards their stakeholders. Most important aspect is our neutrality to the client, so we honour their requirement to avoid conflicts of interest. With this prize we receive another important incentive to continue this course!” Download our NewsFlash KAS BANK wins European Pension Custodian of the Year Award as a PDF (opens in a new window).
KAS BANK Newsflash October 31th, 2014
Research conducted by Lane Clark & Peacock (LCP) in collaboration with the Dutch Pension Federation has revealed that pension funds spent more money on asset management costs in 2013 in comparison with 2012. The costs increased with 1 basis point to 0.54% of the pension assets. However, our own research showed that asset management costs of pension funds in 2013 fell by 1 basis point to 0.53% of the pension assets.
Download our NewsFlash Asset management costs of pension funds increased by 1 bp in 2013 as a PDF (opens in a new window).
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Europe is forcing the Dutch pension sector to make choices
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We are pleased to inform you that the KAS BANK Insurer Monitor is available in Apple’s App store and in Google Play (entry: KAS BANK Monitor) as from today. After you have downloaded and activated the app you can start working with the Insurer Monitor right away. To install the desktop version we kindly ask you to contact your client manager at KAS BANK.
Since 12th February 2014, both financial and non-financial institutions have been obliged to report their derivatives transactions to one of six trade repositories approved by the European Securities and Markets Authority (ESMA). KAS BANK currently reports its transactions and those of many client firms to the trade repository REGIS-TR. Later this year, we will also have the capability to report Exchange Traded Derivatives (ETD) to REGIS-TR. KAS BANK will be able to offer this possibility also for your underlying clients.
KAS BANK becomes a member of Transparency International Netherlands, contributing to corporate governance leadership. As of April 1st 2014, KAS BANK became a member of Transparency International Netherlands (TI-NL). KAS BANK shares the vision of TI-NL to “promote integrity, transparency and accountability in the wider society”. As a corporate member of TI-NL, KAS BANK supports the dialogue instigated by the organisation, recently surrounding best practice in corporate governance and corporate social responsibility; both of which are generally accepted throughout the industry. Whenever possible we will bring the activities of TI-Netherlands to the attention of our clients and to the wider finance industry.
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