Europe

UK - The Financial Reporting Council is to review its guidance on internal control and risk management to safeguard shareholder investments.

UK - National Australia Bank is shutting its UK custody arm, National Custodian Services, due to market consolidation and price pressures.

UK - The £500m Corus Engineering Steel Pension Scheme has dropped its third-party fund managers in favour of British Steel Pension Scheme's in-house team.

UK - Employer and employee contributions into the University of Cambridge Assistant Staff Pension Scheme are set to soar.

UK - BP has brought its pension administration back in-house using Aquila's pension administration solution administrator.

UK - Trade unions praised some of the CBI's "radical proposals" but criticised its recommendation to raise the state pension age to 70.

UK - A new fund has been set up offering schemes the opportunity to invest in property developments.

UK - Insight Investment institutional client services director David Somers is retiring after four years at the firm to concentrate on independent trusteeship.

UK - Employers have outlined a range of measures to help restore confidence in the pensions industry and avoid widespread pensioner poverty in the future.

UK - Expert advice on how trustees can protect their schemes' best interests during mergers and acquisitions will be on offer at a Pensions Management Institute seminar.