Europe

UK - Independent financial advisers will be fined and firms closed down if they give poor pensions advice, the Financial Services Authority's new chairman has warned.

UK - The Aegon UK pension scheme has not produced audited accounts for 10 years, the pensions regulator has found.

UK - Regulators have launched an in-depth review of 49 schemes with "sizeable deficits" to see how they have been handled by trustees and consultants.

UK - Dunstan Thomas is reconfiguring its Imago:Illustrations administration software so pensions providers can meet demands for greater cost transparency.

UK - SEI Investments has appointed Standard Life Investments to its UK equity fund manager roster.

UK - Pensions are at the centre of a heated row between local authorities and the government over increases in council tax.

UK - Independent financial adviser Park Row Group has bought Citadel Financial Services for an undisclosed amount.

UK - Unilever Pension Fund (UK) has outsourced part of its administration service to Hewitt, Bacon & Woodrow.

UK - The government's proposed £1.4m lifetime pensions savings limit will generate more than £7bn in extra revenue for the Treasury, a leading accountancy firm claims.

UK - Drinks giant Diageo has published its first corporate citizenship report, highlighting investor concerns.