Former Regional Director to Return to SEC as Head of Enforcement
Securities lawyer David Woodcock will return to the Securities and Exchange Commission to lead the division, effective May 4.
Law Enforcement
Securities Fraud, ERISA Class Action Settlements Surge in 2025
Tesla, Alphabet and Alibaba paid almost half the money in last year’s 10 largest settlements related to securities and ERISA.
PRT Lawsuit Against AT&T Dismissed
The court’s determination that the plaintiffs have standing to sue allows for the complaint to be refiled and could embolden others considering litigation.
Pension Risk Transfer Lawsuit Against General Electric Dismissed
The company was accused of violating its fiduciary duty by picking Athene for a $1.7 billion PRT in 2020.
SEC Again Postpones Disclosure Deadline for Private Investment Funds
The extension gives the regulator time to reduce the number of firms that have to file information.
Former CFA Institute Marketing Chief Indicted in $6M Embezzlement Scheme
Michael Collins is accused of stealing funds from multiple employers by invoicing them for nonexistent services from companies he owned.
LACERA Fraudster Charged With Grand Theft, Conflict of Interest
Carmelo Marquez is accused of awarding $120,000 worth of IT contracts from the Los Angeles County Employees Retirement Association to a company he owned.
DOJ, FTC Side Against Largest Asset Managers in ESG-Related Coal Suit
BlackRock, State Street and Vanguard are accused of suppressing prices in the coal market, and the DOJ has weighed in.
LACERA Sues Former Security Officer for Fraud
The Los Angeles County pension fund alleges Carmelo Marquez, who worked on an interim basis, defrauded the organization by giving contracts to companies he owned.
AustralianSuper Cyberattack Losses Reach $450,000
The 10 members whose accounts were affected have been fully reimbursed, superannuation officials confirmed.
SEC Announces Unit to Protect Investors From Crypto, AI Scams
The Cyber and Emerging Technologies Unit will be led by Laura D’Allaird, who was co-chief of the predecessor Crypto Assets and Cyber Unit.
Target Faces Another Lawsuit Related to ESG, DEI ‘Risks’
A police pension fund in Florida claims the company deceitfully hid the potential financial risks of celebrating Pride Month.
BMO Pays $41M to Settle SEC Charges of Failing to Supervise ‘Sliver Bond’ Sales
According to the regulator, firm employees used misleading metrics to sell mortgage-backed bonds.
R.B. Pamplin Corp. to Restore $20.6M in Pension Assets, Unwind Illegal Real Estate Investments
The Department of Labor concluded that Pamplin had used assets from its pension plan to acquire the company’s own real estate, exceeding limits under ERISA.
Structured Alpha Manager Settlement Offers Due Diligence Lessons
Investors need to ask about managers’ controls and for ‘evidence’ they are being used, consultant says.