United Kingdom

UK - Pension funds cannot expect auditors to blow the whistle on failing or corrupt companies, a leading corporate governance expert claims.

UK - Retail giant John Lewis is to review its pension arrangements. But the partnership insists there is no intention to close its final salary scheme.

UK / EUROPE - HSBC Asset Management has promoted Dean Buckley to European chief executive officer (CIO), replacing Andrew Ross who left the firm to head up Cazenove's fund management business.

UK - Schroder's chief economist Keith Wade has predicted that the movement towards higher bond allocations will leave the State with a massive bill, in order to make up shortfalls caused by lower returns from fixed income investment.

UK - Merrill Lynch Investment Managers' hopes that other pension schemes will not take legal action following its settlement with Unilever have been dashed.

UK - Mercer has been told to examine every option in the £600m George Wimpey Staff Pension Scheme's investment review this autumn.

UK/EUROPE/US: Hedge fund of funds manager Arden Asset Management made further steps towards opening its London office, targeting European managers to its roster.

UK - Two fund managers are boosting their hedge fund offerings despite warnings that the concept has failed to make an impact on the conservative pensions market.

UK - Anti-discrimination legislation - which is due to become law - will cause more legal headaches for pension schemes, according to City lawyers.

UK - Moves to make directors pay and pension provision more transparent to shareholders look likely to be made law.