Conservative Party manifesto calls for changing the triple lock to a double lock.
Bill would repeal benefits reduction option provided by Multiemployer Pension Reform Act of 2014.
City would have to fund retroactive pensions for more than 3,000 workers if overturned.
Since bonds are rarely traded, pricing is difficult to verify, making it “ripe for abuse.”
Regulator alleges administrators engaged in “monopolistic practices.”
Investment bank to create fair fund to pay back clients.
Inquiry relates to private equity investments, expenses, securities lending, and distributions of benefits.
Key issues include reforming minimum investment amounts, stricter oversight and reclassification of targeted employment areas (TEAs), and visa-processing inefficiencies.
Partners tout benefits of blockchain platforms to help industry comply with regulations, among other benefits.
Five funds apply to the Treasury Dept. to have benefits reduced for their members.
New York-based plan expected to resubmit application with revised assumptions.