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.
Law Enforcement
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.
Leech Pleads Not Guilty in WAMCO Cherry-Picking Probe
The former Western Asset Management Co. co-CIO is accused of making favorable trades for some clients at the expense of others.
Cantor Fitzgerald Settles SEC Charges Over Misleading SPAC Disclosures
The firm will pay a $6.8 million fine for allegedly making false statements in regulatory filings.
Ohio Passes Bill Barring State Pension Funds, University Endowments From Prioritizing ESG in Investing, Stakeholder Activism
Ohio Senate Bill 6 now headed to Governor Mike DeWine’s desk to be signed into law.
Hollywood Firefighter Pension Lawsuit Alleges Insider Trading by United Health Execs, Including Slain CEO
The late Brian Thompson, along with two other executives, were accused of dumping stock prior to February announcement of a DOJ antitrust investigation into the company.
Republican AGs File Suit Against Asset Managers Alleging Coal Repression Scheme
11 states filed a complaint against BlackRock, State Street and Vanguard for undermining publicly traded coal companies.
WAMCO CIO Charged With Fraud
Ken Leech was hit with fraud charges by the SEC for allegedly favoring some client portfolios over others in a scheme by which he profited.
LSV Responds to Lawsuit by Former Execs With Cease-and-Desist Letter
Plaintiffs fire back with accusations of threats and intimidation tactics.
Final Settlement Hearing Set for December in Class Action vs. Uber
The Boston Retirement System is a class representative of investors seeking a $200 million settlement from the ride-share giant for false statements connected with its 2019 IPO.
Michigan Pension Fund Files Complaint Against ZoomInfo
The City of Pontiac Police and Fire Retirement System alleges the software and data company made misleading statements.
Former Hedge Fund Trader Sentenced for Role in Stock Manipulation Scheme
Canadian Colin Heatherington and a co-defendant were also ordered to pay a combined total of more than $215.8 million in restitution.
Silvergate Capital Settles Charges of Failing to Monitor $1T in Transactions
The firm allegedly misled investors about its compliance and oversight of transactions, including those made by defunct cryptocurrency exchange FTX.
Investment Fund CIO Pleads Guilty to Securities Fraud
Joshua Goltry ‘lied about nearly every aspect’ of his fund’s operations and performance, according to federal prosecutors and the SEC.