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Swiss pension supervisor ‘overstepped authority’ with audit proposal

first_imgIn 2015 OAK carried out a comprehensive survey of the quality of external audit reports and found a high error rate. It subsequently issued a draft directive laying down requirements for auditors, which the cabinet noted was strongly criticised by associations and authorities.The government was subsequently commissioned to check whether OAK’s directive was in line with its legal authority and to potentially consider adjustments. Today’s report is the outcome of that review process.It reaching its conclusions the government also had the input of an opinion from an independent expert, Thomas Gächter of the University of Zurich, although it effectively disagreed with his view that OAK should be denied any authority to give instructions to auditors.If the supervisor were only permitted to issue recommendations, it would ultimately not be able to fulfil its task of making sure that the occupational pension system as a whole was functioning reliably, according to the government.However, the statutory authority to issue directives only applied to those that were needed for quality assurance, it noted in its report. It did not extend to issuing stipulations relating to the admission of auditors, which was the responsibility of the federal audit supervisor.The audit authority has previously warned about weaknesses in the auditing of the country’s pension funds. The Swiss federal pensions regulator “exceeded its legal authority” when it proposed requirements that related to the admission of external auditors of occupational pension funds, according to the country’s government.Although the Oberaufsichtskommission (OAK BV) was allowed to issue certain technical instructions to pension fund auditors as part of its statutory mandate, the introduction of a special permit for examining pension funds was a matter for lawmakers, the federal council said in a report published today.However, it was in agreement with the OAK that there were issues that need to be addressed with regard to the auditing of occupational pension funds, as previously outlined by the regulator.The cabinet had therefore instructed the federal department for internal affairs to weigh possible legislative steps, including whether the federal audit supervisory authority should be assigned sole responsibility for admitting and supervising auditors of occupational pension funds.last_img read more

Joc Pederson doesn’t want to be left out by Dodgers

first_imgDodgers manager Dave Roberts platooned Pederson with right-handed Trayce Thompson during the first half of last season and limited Pederson’s playing time against left-handed pitching (he had just 77 plate appearances against lefties all season). This spring, Roberts has said Pederson will get more at-bats against lefties in 2017 based on the desire to keep his glove in center field and faith that Pederson will improve against left-handers.“Both,” Roberts said. “Obviously, we like his glove out there in center field and his ability to slug.”Pederson finished second among last year’s Dodgers (to Corey Seager) in slugging percentage (.512), OPS (.847) and OPS-plus (129). None of that damage was done against left-handed pitching, however. Pederson was 8 for 64 (.125) with 22 strikeouts and hit just one of his 25 home runs against left-handers.Pederson asserts he doesn’t have a problem with left-handers despite a .178 average in two big-league seasons against them – “I mean, I hit .300 off them my last year in Triple-A,” he said. Instead, his offseason focus was on making some adjustments heading into his third season that will give him a more mechanically sound swing regardless of what kind of pitching he is facing.“I think if your body is not in a good position, you’re not going to hit. With any approach you have,” Pederson said. “So I needed to make some mechanical changes to get myself into a better hitting position. And when you have that in order, you can move on to your approach and focus on how pitchers are attacking you. “These pitchers are good and they know how to throw it to certain locations and if you’re not able to hit those locations, you’re an out. So you’ve got to mechanically get in a good spot.”Roberts sees a more consistent “path to the ball” from Pederson this spring and “more consistency with his approach.” Pederson homered to lead off the game against the Milwaukee Brewers on Wednesday, his third home run in the Cactus League (no other Dodger has more than one).“With Joc, even if you go back to last spring, there was a lot of tinkering and really trying to figure out what works best for him,” Roberts said. “The second after the season ended, he made an adjustment with his swing. There’s a little step-back thing going and it gets him in a good position to fire. I think from that point on he kind of found a baseline for his swing mechanically. Then outside of that an approach piece, a plan piece.“Every hitter is different. The important thing is when he gets to that point to where he’s ready to fire on the baseball, his hands are in a consistent position. That’s where he’s at right now.”TV guideThe Dodgers, Spectrum Networks and KTLA reached agreement to simulcast SportsNet LA’s broadcast of 10 early-season games on the Los Angeles station, making them available to a wider audience as the Dodgers’ distribution stalemate enters a fourth season.The 10 games made available are April 5 (vs. the Padres), April 9 (at Colorado), April 12 (at Wrigley Field), April 16 (vs. the Diamondbacks), April 18 and 19 (vs. the Rockies), April 23 (at Arizona), April 30 (vs. the Phillies), May 3 (vs. the Giants) and May 7 (at San Diego).Return dateRoberts said Corey Seager (back), Andre Ethier (back) and Andrew Toles (hyperextended right knee) are expected to play again Saturday after sitting out most of this week with minor injuries. In Seager’s case, he has played just three games with six plate appearances this spring.“For us, it’s fine,” Roberts said. “Spring training is long as it is, especially on the position players’ side. … Obviously we expect him to play a lot this season. So for him to essentially get a week to be down is not the worst thing.”Last spring, Seager was missed the final 19 days of the Cactus League schedule, played in the Freeway Series — and then led the Dodgers in games played (157) and plate appearances (687) in the regular season. GLENDALE, Ariz. >> Brian Urlacher might be coming out of retirement again.Late last season, Dodgers center fielder Joc Pederson took to wearing a face guard on his helmet for at-bats against left-handed pitchers. Pederson joked that the face guard made him feel like the retired Chicago Bears linebacker.It did more than that. It gave Pederson a visual cue to “keep my front shoulder in longer and be able to use the whole field” against lefties. Pederson said he has ordered another face guard from the equipment manufacturer and might wear it again this season.If so, that face guard could get more exposure.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more