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EIOPA's board of supervisors is scheduled to decide on 13 February on a framework for a first quantitative impact study for the Commission's 'holistic balance sheet' proposal. But Böhm told IPE he was very critical of EIOPA's plans to foist even more mandatory quantitative impact studies on Europe's pension funds. "I do not want to be obliged to deliver this additional data, as it would exceed our resources", he said.
Speaking at a conference in Vienna on the current challenges facing asset managers, Böhm, who is also a member of EIOPA's Occupational Pensions Stakeholder Group, said: "One of the major challenges currently is the regulatory environment, which is almost taking up more of our time than the markets, which should be our priority".
Günther Herndlhofer, head of asset management at severance pay fund VBV Vorsorgekasse, conceded that rules and regulations were "essential", but said it was important they be "in line with reality". He added: "Another major issue is legal certainty, which we often do not have with regulations, such as those set by the Austrian supervisor FMA, where a lot is a matter of interpretation".
Böhm agreed the industry should "accept" an increasing focus on risk management, as this had created "added value".
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