The IRS, SEC, and 13 state pensions have all moved to force private equity firms to fully disclose fees, pay taxes on them, and repent to clients when they don’t.
America’s largest pension has weighed in on the proposal to extend fiduciary duty to retirement advisors.
The bank hired several interns who didn’t meet its GPA or interview standards, but were related to Middle Eastern sovereign wealth fund officials, the SEC alleged.
The bank’s advisors and fund managers were accused of misrepresenting the risk attached to two leveraged fixed income strategies.
The bank allegedly deceived investors on the state of its liquidated corporate special opportunities hedge fund in 2007, according to court documents.
Investors are unhappy with fees charged by State Farm Investment Management for target-date funds run by BlackRock.
The firm’s subsidiary, Guggenheim Partners Investment Management, failed to report a $50 million loan from a client to a senior executive in 2010, the SEC said.
Bond market illiquidity and mega-manager leverage foster compliance issues—and not just for PIMCO, Morningstar argues.
An investigation into valuations in the PIMCO Total Return Active ETF’s portfolio could prompt civil action against the asset manager.
Two pension funds are among investors that have settled with the investment bank over the sale of mortgage-backed securities.