Europe

UK - Royal & SunAlliance has come under fire from Keith Montgomery Associates over the fees it charges IFAs for retirement quotes.

UK - The government is drafting new regulations to protect workers' pension rights when schemes go into wind-up.

UK - SIPP providers are being urged to draw up a rigorous code of practice in an attempt to stop unscrupulous or incompetent firms breaking Inland Revenue rules.

UK - Former head of corporate finance at Boots, John Ralfe, is setting up his own independent consulting company to advise firms on managing pension fund risk.

UK - Honda plans to raise the normal retirement age for its UK final salary scheme from 60 to 62 and increase contributions to help plug a £42.5m deficit.

UK - Newspaper distributor John Menzies has followed Boots and John Lewis by imposing a five-year waiting period for staff to join its final salary scheme.

UK - Regulators have blamed flawed legislation for leaving 48 deferred pensioners virtually penniless after their scheme was placed into wind-up.

ITALY - The first hedge fund indices representing the growing Italian market have been unveiled.

UK - Watson Wyatt has appointed Debbie Clarke as a senior investment consultant.

UK - Southwark Council has dropped its legal action against Merrill Lynch Investment Managers, just days after issuing a claim against the firm in the High Court.