United Kingdom

UK - The Financial Services Authority is clamping down on IFA firms which flout ombudsman rulings.

UK - A training and competency system has been launched by the Chartered Insurance Institute, The Life Insurance Association and the Society of Financial Advisers.

UK - Pension funds are being urged to abstain on tobacco giant Gallaher's remuneration report over executive bonuses.

UK - Henderson Global Investors will be vulnerable to a hostile takeover bid once parent AMP completes its plans to withdraw from the UK insurance market, industry sources say.

UK - Hazell Carr has been listed as the UK's fastest growing small to medium-sized business based on the number of jobs it has created over the past five years.

UK - Official projections that the UK will continue to spend only 5% of its gross domestic product on state pensions over the next 50 years have been dismissed by the Conservatives.

UK - Over two-thirds of future pensioners think the state pension will only be available for the poorest pensioners when they retire, a survey by Brahm Research and Cicero Consulting shows.

UK - Schemes and policyholders will desert NPI and Pearl's with-profits funds following their decision to pull out of equities, a leading IFA claims.

UK/EUROPE - Pacific Alternative Asset Management Company is to open an office in London and has hired four senior management professionals.

UK - Consulting actuary Lane Clark & Peacock has appointed Michael Hepher as independent director and chairman.