Looking at a recent Cairns Group proposal on domestic support it can be seen that they want to
strengthen the Green Box provision dealing with direct payments (including structural adjustment,
environment and regional assistance) while capping overall spending on direct payments under the
Green Box. As well, they hope to subject certain support sub-categories in the Box to reduction
commitments. The Cairns Group paper further proposes to strengthen transparency, notification
and review mechanisms to ensure programs meet the criteria set out in the Green Box.
Since the mid 1990s there has been a significant growth in the aggregate
size and number of global property funds, largely fuelled by the investment
of significant capital from institutional investors. This falls into two broad
types: the 'core' universe and the 'opportunity' universe.
This growth has seen fund managers launching new funds and raising more
capital at a time when many have been unable to show clear evidence that
their funds have provided historic out-performance against market
benchmarks or performance objectives.
The increasing globalisation of financial markets led companies in many countries to apply
from 2005 the IFRS principles. The main goal of IFRS is to safeguard investors by achieving
uniformity and transparency in the accounting principles. One of the most challenging aspects
of the IFRS rules is the accounting treatment of derivatives, a challenge that has strengthened
the relationship between risk management and accounting.
It makes sense that annuities would be widely used by workers as a way to
replace the guaranteed lifetime income security that once was provided by pensions.
But annuities are not as well understood, not as popular, and not as competitively
priced, given the increased need for them, as one would hope.
Life insurance is, in a sense, the opposite of an annuity. The purchaser of an
annuity bets that he or she will live a long time. The purchaser of life insurance bets
that he or she will die soon.