Europe

EUROPE - The European Commission is planning a clamp down on derivatives trading by introducing restrictive measures in the European Union.

UK - The Chartered Institute of Personnel and Development is to close its defined benefit pension scheme to new members from January.

UK - The West Midlands Pension Fund has invested £30m ($50m) in the BlueBay emerging market opportunity fund.

UK - Bulk annuity sales could hit £3bn (US$4.9bn) this year after pension funds purchased more than £2.4bn during the first three quarters of 2009, Mercer said.

UK - The Pension Protection Fund levy should be limited beyond the current two-year time horizon, the National Association of Pension Funds said.

EUROPE - The proposed European Union directive to regulate alternative asset managers could cost investors some €5bn (US$7.4bn), a report commissioned by UK regulator Financial Services Authorities found.

EUROPE - The cost of an ageing population in Europe is expected to "dwarf" the impact of the current financial crisis many times over, a European Commission report revealed.

US/UK - A US buyout market to rival the UK's is not likely in the short term because of competing mindsets among the countries' policy makers about the future of defined benefit systems - US officials still have faith.

UK- Aegon has let go four members of its European equity team as part of a restructure which will also see the departure of the group's sales and marketing director Jon Bennett.

DENMARK/UK - Danish pension fund and administration provider ATP has pulled out of the running for the personal accounts administration contract in the UK, PADA has confirmed.