Finally, as regards the occupational pensions sector, the recent directive on the activity and supervision of occupational pension funds represents the first step in the construction of a harmonised EU regulatory framework.
I just recall here that upon request of G10 Governors the Joint Forum has recently released a report in which it is highlighted that regulatory and supervisory developments should aim at influencing and supporting the trend towards more rigorous risk management, greater transparency, and better governance at private pension funds1.