United Kingdom

UK - The Inland Revenue's pensions tax proposals are "fundamentally flawed" because they penalise pension investors for good performance, claims Smith & Williamson.

UK - Fidelity Investments has added three senior credit research analysts to its London-based fixed-income team.

UK - The FSA has confirmed it will maintain its non-prescriptive approach to business continuity arrangements by financial firms.

UK - The London Stock Exchange has appointed Chris Gibson-Smith as its next chairman, succeeding Don Cruickshank.

UK - The Teachers Pension Scheme has renewed Capita Hartshead's administration contract for a further seven years.

UK - Henderson Global Investors has announced the appointment of Gareth Davies as client director, UK institutional marketing.

UK - Property firm Liberty International has attacked the NAPF and the Pensions Investment Research Consultants after they urged members to abstain on key board appointments.

UK - Older workers in the UK back government efforts to introduce "flexible retirement", according to a poll by Age Concern and ICM Research.

UK - Pension funds have defended their use of "abstentions" on corporate governance issues that do not comply with recommendations in the Higgs report.

UK/US - State Street Corporation has been appointed to provide a full range of fund accounting services to Schroders for 64 UK-based collective investment funds, representing more than £11bn in assets.