Europe

UK - Employers who thought they were free of funding obligations might still be "on the hook" for paying liabilities, following a High Court ruling yesterday.

UK/GLOBAL - Schemes must increase their skills in sustainability governance and publicly disclose how their responsible investment strategies are implemented, a UKSIF report urges.

BP has been sued by a former employee over losses to the company's retirement plan caused by the Gulf of Mexico oil spill.

UK - BlackRock head of European Middle East and Africa institutional business Mike O'Brien has stepped down to pursue interests outside of the fund management industry.

FRANCE - The Funds De Reserve Pour Les Retraites (FRR) has terminated a mandate run by Nicholas Applegate Capital Management (NACM) following poor investment performance.

EUROPE - The EU is facing criticism from asset managers over its plans to raise its part of the €750bn (US$922bn) rescue package for embattled eurozone nations.

FRANCE - France's plan to lift its retirement age is a signal to investors about the seriousness of President Nicolas Sarkozy's intention to cut the budget deficit, Finance Minister Christine Lagarde said.

SPAIN/DENMARK - AP Pension, PBU and PensionDanmark have written to Spain's finance minister over reports the government is cutting revenue earned through subsidised prices in the sector.

UK - The government has announced it will undertake an independent review of auto-enrolment.

EUROPE - The pensions industry is set to revolt over EU attempts to reignite the issue of solvency standards in pension schemes.