United Kingdom

UK - The Financial Services Authority is now functioning as parliament intended but there is still room for improvement, outgoing chairman Sir Howard Davies says.

UK - The eurozone and Japan could provide bond investors with some protection against falls in global prices, Standard Life Investment predicts.

UK - Norfolk County Council has cancelled a £50m pension administration deal with Capita Group less than half-way through the contract.

UK - The £1.3bn Hertfordshire County Council Superannuation Fund has appointed Standard Life and HarbourVest Partners to manage a £55m private equity brief.

UK/US - Government policy advisers are being sent to the US to look at how its pensions central insurance fund works and identify any pitfalls.

UK - The Pensions Compensation Board is insisting it has a role in the occupational pensions industry despite having no new casework in the past year.

UK - Supermarket giant J. Sainsbury was due to face tough questioning from shareholders at its annual general meeting yesterday over its remuneration report.

UK - Architect Skidmore Owings & Merrill has managed to keep pensions and benefits administration costs static despite experiencing a third increase in staffing numbers.

UK - The £1.3bn Avon Pension Fund and the £2.5bn London Pension Fund Authority have both gone out to tender for a global custodian.

UK - Closing defined benefit schemes to new employees does not resolve all of a firm's pension problems, delegates at a Lane, Clark & Peacock seminar declared.