United Kingdom

UK - Watson Wyatt has described ‘Independent Compliance Reviews' proposed by the Treasury as a backward step in the principles-based approach.

UK - The Pensions Regulator has published industry views on the regulation of Defined Contribution (DC) schemes and highlighted the importance of good governance.

EMEA/UK - Aon consulting has opted to consolidate its European, Middle Eastern, African (EMEA) and UK business in order to streamline global operations and maximise growth opportunities.

UK - Suspicion towards companies dealing in risk transfer will soon disappear as pension schemes outsource expertise, according to Paternoster's investment director, Cliff Speed.

UK - The government has announced a funding review of the Financial Assistance Scheme (FAS), to see if assets from insolvent companies can help deal with lost pensions.

UK - Private sector defined contribution (DC) pension schemes must take more responsibility for investment strategy, warned the Pensions Institute at Cass Business School.

UK - The increasing longevity of pension fund members adds around £15bn a year to UK private sector companies' liabilities, claimed a new KPMG survey.

UK - Asset management firm CQS has announced the appointment of Chris Cooke to its seven-person marketing and investor relations team.

UK & NETHERLANDS - The asset management divisions of ABN AMRO and Barclays will not be merged, said a spokesman after the terms of the merger of the British and Dutch banking giants were announced.

UK - FSA approval and a US$500m mandate have been awarded to SilverStreet Capital, the fund of hedge fund management group founded by two former ABN AMRO alternatives managers.