EUROPE - KAS Bank is the first Dutch bank to become active as general clearing member on Euronext Lisbon.
KAS Bank now has the same connection to the Portuguese securities market as to the other Euronext markets and other significant European exchanges of London, Frankfurt and Switzerland.
Clearing on the Portuguese exchange will be carried out through the existing systems.
The connection enables clients to settle their transactions based on their preferred settlement method.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.
An independent expert panel will be commissioned to review how the £6.1bn funding deficit figure for the Universities Superannuation Scheme (USS) was reached, Universities UK (UUK) has announced.