United Kingdom

UK - The pensions ombudsman has taken the unprecedented step of fining a financial adviser £2000 for "injustice" caused by distress and inconvenience.

WALES - The £576m City & County of Swansea Pension Fund has become the first Welsh local authority pension fund to join the Local Authority Pension Fund Forum.

UK - Commercial law firm Beachcroft Wansboroughs has appointed Nigel Frudd to the new role of head of financial services.

UK - Multinationals are setting up group pension schemes on the Isle of Man in a bid to reduce tax and increase flexibility.

UK - The pharmaceutical industry is being urged to address corporate and ethical challenges to meet rising investor expectations.

UK - Trade unions are pledging to keep up pressure on ministers in a bid to stop universities closing final salary pension provision to non-academic staff.

UK - Britannic Asset Management's UK Equity Select Pension Fund has outperformed the FTSE All-Share by 5% points since its inception at the end of March 2002.

UK - Abbey - the rebranded Abbey National business - has launched a comprehensive and scaleable wrap service for independent financial advisers.

UK - Exclusive: Nikko Global Asset Management has been dropped from the roster at the London Borough of Islington Pension Fund following performance concerns, said a source close to events.

UK - Schemes and insurers are demanding an "impartial" succession to the departing British Sky Broadcasting chief executive.