SEC Files Lawsuit Over Alleged Insider Trading in Global Industries
US regulators have filed a lawsuit alleging insider trading related to the recent purchase of US underwater oil services company Global Industries Ltd by France's Technip SA.
News
Soros Names Bessent as New CIO to Run $25 Billion Firm
Soros Fund Management has appointed Scott Bessent, a former employee of the firm, as its new chief investment officer.
Pittsburgh Avoids Pension Takeover
The Pittsburgh, Pennsylvania municipal pension plan had been threatened with a state takeover; by achieving a funding status over 50%, they have avoided it – for now.
DoL to Hold Off on New Fiduciary Rules for Pension Plans
As part a response to requests from the public, including members of Congress, that the agency allow an opportunity for more input on the rule, the US Department of Labor's Employee Benefits Security Administration will re-propose its rule on the definition of a fiduciary.
Amid Competitive Outsourcing Landscape, PIMCO to Disband Endowment-Style Fund-of-Funds Group
Pacific Investment Management Co. (PIMCO) may fold its fund unit championing endowment-style investment, Bloomberg has reported.
LCP Report: Dutch Pension Deficits Rose in 2010, IAS19 Rules to Increase Liabilities Further
The combined employee benefit deficits of the Netherlands' 50 largest companies grew by €1 billion in the past year, according to the first "Pensions Accounting Briefing" report by LCP Netherlands.
Colorado Treasurer Aims to Sue State Scheme, Claiming Lack of Transparency
State Treasurer Walker Stapleton aims to file a lawsuit against the $39 billion Colorado Public Employees' Retirement Association for state workers, claiming that the fund has denied his repeated requests for financial data.
Following Arrest of UBS Trader, S&P, Moody’s, Fitch Issue Review for Downgrade
UBS, which reportedly suffered a $2 billion loss from unauthorized trading at its investment bank, had its credit ratings put under review for potential downgrade by Standard & Poor’s, Moody’s Investors Service, and Fitch.
Jury Awards Gundlach $66.7 Million in Bitter Fight With TCW
Jeffrey Gundlach, who was fired from TCW Group and started DoubleLine Capital, won a $66.7 million jury award against his former employer.
Preqin Finds First-Time PE Fund Managers Should Be Optimistic
According to Preqin's latest research, private equity fund managers seeking to raise their first funds have reason to be hopeful.
Massachusetts Senate Approves New Pension Rules, Changing Benefits Calculation
The Massachusetts Senate has passed a major overhaul of the state pension system to cut benefits for future workers, with the goal of saving $5 billion over a 30-year plan.
Pension Proposal Seeks Removal of Goldman CEO Blankfein as Chairman of Board
The pension plan of the American Federation of State, County & Municipal Employees has filed a shareholder proposal, saying that an independent chairman would provide checks and balances in the structure at Goldman Sachs.
Report Urges US Schemes to Up Hedge Fund Exposure
A new research paper has asserted that pension funds in the United States should increase their allocation to hedge funds by 10% to boost returns by up to around $13.67 billion a year.
CalPERS Censures Board Member, Implements Governance Reforms
CalPERS has publicly censured a board member for alleged involvement in a personnel action based on complaints filed by coworkers in addition to adopting governance reforms.
ADIA Opens Up, Reveals Rising Long-Term Returns
The Abu Dhabi Investment Authority (ADIA) has issued its yearly statement, documenting its investment strategy and holdings.