North America

US - States may face increased retirement- fund deficits and pressure to stop skipping pension contributions under proposals being reviewed by the Governmental Accounting Standards Board.

UK/CANADA - The UK's Pensions Regulator has issued a Financial Support Direction against companies in the Canada-based Nortel grou,p requiring them to provide support for the UK scheme, which had a £2.1bn (US$3.1bn) shortfall on a buyout basis.

CANADA - The Canada Pension Plan Investment Board (CPPIB) has been criticised by environmentalists for investing C$250m (US$239) in an Alberta tar sands company.

US - The California State Teachers' Retirement System will looks at ways to increase the use of internal asset management, particularly in its US$70.7bn global equities portfolio, and will conduct a "deep dive" of its private equity portfolio that could...

CANADA - The Ontario Municipal Employees Retirement System will increase its contribution rate over the next three years in an attempt to tackle its growing pension deficit.

US - The New York State Common Retirement Fund has hired The Rock Creek Group to run the first mandate in its new emerging managers hedge fund programme, and said a new emerging managers real estate programme is in the works.

US - Barr Rosenberg, chairman of AXA Rosenberg, and Tom Mead, head of research, both co-founders, have resigned after an investigation into the reporting of a coding error found the two did not follow firm protocol.

US - Emerging markets specialist Gramercy has hired the former co-heads of JP Morgan Asset Management's emerging markets debt group to launch new strategies focused on the asset class, Gramercy said.

CANADA/UK - A Canadian court has once again prevented UK-based The Pensions Regulator from issuing a warning notice to recover £2.1bn (US$3.1bn) from Nortel Networks in Canada.

GLOBAL - The International Corporate Governance Network (ICGN) called on G20 leaders gathered in Toronto at the weekend to strengthen shareholder rights in the aftermath of the global financial crisis.