News Brief: CBI rules out bank-like regulations for funds - Academic debunks ESG study claims - Should employees be forced to retire?
Welcome back to the News Brief, a weekly summary of some of the most important stories on Ignites Europe.
Bank-like regulation is not the solution for funds, according to the Central Bank of Ireland, reports Robert Van Egghen.
The Irish financial regulator has published a statement that says a "one-size-fits-all approach" should be avoided as it believes bank capital rules are inappropriate for the sector.
Several banking supervisors have previously called for stronger supervision of asset managers.
But the position of the CBI will draw a sigh of relief from asset managers as it indicates bank-like regulation will not be the direction of travel, financial regulation expert Sean Tuffy tells Ignites Europe.
An academic is disputing several influential environmental, social and governance investing studies referenced in marketing material published by asset managers, reports Anna Devine.
Andrew King says in an interview with Ignites Europe that there is no evidence ESG data delivers higher returns.
While King says there is "no problem" with using additional information, such as separate ESG factors, to help stockholders make "better decisions", "the claims for what was possible became extraordinary".
Should fund professionals be forced to retire at a certain age? In this week's people feature, experts believe a mandatory retirement age can ensure "intergenerational fairness and career progression".
But others believe the rights of older employees to continue to work until they wish to retire should also be respected, reports Robert Van Egghen.
Chart of the week: Active fund flows strengthen through Q2
Actively managed funds attracted inflows in the second quarter of the year, gathering €19.1bn in net new money thanks to "increased interest" in the products, Morningstar data shows, reports Chloe Leung.
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