How do you equip rings?

I have treid to equip a ring with an effect and the arrow does not appear beside it to indicate it is equiped. I can equip amulets and other items. I tryed to equip by pressing E and it did not work. I checked to see if the effect from the ring was active in the magic power effects and it was not.

I am not using any mods other than a few tweaks to the ini file for graphic enhancements.

Am i the only one with this problem? Any ideas?

Thanks.

Any chance you've started the "Ill Met by Moonlight" quest? If so, you probably have a unique ring on your finger that you can't remove until you complete the quest.