IBM’s Danish pension fund reprimanded by FSA for using major assets as collateral

IBM’s Danish pension fund reprimanded by FSA for using major assets as collateral

Denmark’s Financial Supervisory Authority (FSA) has issued formal orders to IBM Pensionsfond in Denmark after discovering that assets intended to cover liabilities were also pledged as collateral for derivative transactions. The FSA conducted an inspection in March on the US multinational’s defined benefit pension fund for Danish employees, focusing on investments and registered assets. A … Read more