Two former bond traders exploited “weaknesses” in the asset manager’s systems and controls to increase their take of performance fees.
Public pension executives are still waiting for government action after promised reforms were pushed back.
The $20 billion pension is taking action after the collapse of Banco Espirito Santo last year.
The private equity giant refunded certain fees following an SEC examination, but some pensions reportedly discovered the true circumstances only through media reports.
Craig Lax, ex-global head of execution, has admitted wrongdoing to settle the SEC’s claims that he oversaw systemic, deceptive overcharging of clients.
European pensions have been given two more years before new rules regarding the trading of derivatives apply to them.
The settlements relate to the rating agency’s treatment of mortgage-backed securities before the financial crisis.
The US regulator wants to know more about BNY Mellon’s hiring of potential clients’ staff.
NYC’s retirement system has joined a lawsuit against American Realty Capital Partners, claiming it “artificially inflated prices” of its securities.
The rating agency also faces a one-year ban from rating certain commercial mortgage-backed securities.