Interconnectivities and regulatory impact [24]

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Bullet points include: Fit less well into the above picture Less harmonised across jurisdictions and with other parts of the financial services industry Heavy reliance on benefit security mechanisms not common elsewhere in the industry, e.g. sponsor covenant Is DB pensions a part of the financial service industry at all? ‘Social role’ Is it covered by labour law (in EU reserved to the member states) or prudential regulation (part of single market, so more the remit of the EU centre)? But in many respects pension promises often look and feel reasonable like some types of insurance promises?

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