UK Pension Told to Assume 470,000 Members’ Info Accessed in Capita Hack
The Universities Superannuation Scheme had stored participants’ details on Capita’s Hartlink platform, yet states ‘USS member data … has not been compromised.’
News
SEC Charges Investment Firm for Fraudulent Coin Scam
Red Rock Secured allegedly tricked victims into selling off 401(k) assets to invest in coins at an exorbitant markup.
FINRA, SEC Detail Enforcement Priorities in Reg BI, BE Exams
Officials from the two regulatory groups outlined common missteps discovered while enforcing regulations covering conflicts of interest and trade execution.
Pension Funds Appear Unfazed by Potential US Default
They have ample liquid assets—and show little sense of fear.
Connecticut Leaders Agree to Reform State Pension System
Governor says changes will save the state and its cities more than $840 million over 31 years.
SEC Chairman Stresses Importance of Regs BI, BE at FINRA Conference
Gensler also defended the SEC’s market structure proposals and discussed the future of artificial intelligence in the financial industry.
Growth Stocks’ Leadership Will Be Short-Lived, Ned Davis Predicts
Analysts at the celebrated research shop say value will come to the fore during the upcoming recession.
Kosovo Launches Sovereign Wealth Fund
The strategic/development fund will likely be seeded with stakes in six major government-owned companies.
NYC Pension Funds Sued for Divesting $4 Billion in Fossil-Fuel Assets
The complaint alleges breach of fiduciary duty in ‘misguided and ineffectual gesture to address climate change.’
PBGC Provides Supplemental Assistance to Teamsters Local 966
The plan previously received more than $50 million in December 2022.
Kellogg Foundation Offers a How-To on DEI for Finance Employers
Pointing to low levels of diversity among money managers and private equity firms, it gives examples of successful programs that boost diversity.
NYC Pension Funds File Board Diversity Proposals at 4 Firms
The city’s comptroller calls for disclosure of board members’ race and gender at Capital One, Las Vegas Sands, NextEra Energy and Caesars.
Insurers Eye Riskier Investments, One-Third Make Major Changes
Impact investing and longer-duration bonds are on the buy list, says Nuveen.
Kraft Heinz Agrees to Settle Class Action Securities Lawsuit for $450 Million
Swedish pension fund AP7 was among the plaintiffs who alleged Kraft Heinz misled investors regarding a $15.4 billion goodwill charge.
How Stock Buybacks Hit Record $1.31 Trillion in 2022
Even though the stock market took a nasty fall, companies eagerly paid for their own shares.