Europe

UK - The European Commission has told the UK to amend legislation to end the "discriminatory" tax breaks offered to schemes set up on a trust basis.

UK - Members of the Nikko Europe Pension Fund are calling on the government to make its wind-up safeguards retrospective.

UK - Property Investment funds will be no more than "a nice idea" unless they are tax transparent and uncomplicated, adviser BDO Stoy Hayward warns.

UK - A new software system designed to improve the sales and service process for IFAs has been launched by Sirius Financial Systems and Prudential.

UK - Fund manager Payden & Rygel has opened a fixed income trading desk at its European headquarters in London.

UK - Former Sea-Land Pension Scheme member Mark Tonge is working on his first case as an adviser for the pension advisory service, OPAS.

UK - Pensions providers Scottish Equitable, Skandia UK and Standard Life have signed up to Focus Solutions' electronic product development service.

UK - BBC Technology workers have voted to strike in order to protect their pension rights after the broadcasting giant agreed to sell the unit to Siemens.

UK - Pension funds investing in the food production and retail sector face a number of non-traditional financial risks, the UK Social Investment Forum warns.

UK - Investment by small self-administered schemes dropped by £4.6bn in the first quarter of the year.