JP Morgan has agreed to pay $153.6 million to settle US regulatory claims that it misled pension funds and other investors while selling a product linked to risky mortgages as the housing market crumbled.
Following concerns that financial firms may have violated bribery laws in dealings with Libya's sovereign wealth fund, the Securities and Exchange Commission has requested information from ExxonMobil, ConocoPhillips and Occidental Petroleum Corp. about their Libyan connections.
On behalf of at least 1,800 investors, a federal judge has ruled that Bank of America's Merrill Lynch unit faces a group lawsuit over its mortgage-backed securities.
Ohio's treasurer has asked the state's attorney general to look into the foreign currency exchange practices of the two largest US custodians -- State Street and BNY Mellon -- which oversee pension fund holdings.
The CEO of the International Securities Lending Association Kevin McNulty warned that hedge funds are abandoning short-selling because of uncertainty over looming European Union regulations.
From aiCIO Magazine's Summer Issue: Legislation has been proposed in Congress that would force states to publish their liabilities using corporate rates. This all leads to the question: What really is the right rate?
The Pension Benefit Guaranty Corporation has joined a lawsuit against Morgan Stanley, seeking $25 million in damages over risky pension investments the bank made for New York's Saint Vincent Catholic Medical Centres' pension plan and its participants.
A lawsuit over a few hundred dollars has ballooned into legal costs of more than 490x the original suit for Jacksonville's Police and Fire Pension Fund.
The $2.7 billion Kern County Employees' Retirement Association (KCERA) of California has filed a lawsuit against Wilshire Associates for loss of about $4 million.
New York State Comptroller Thomas P. DiNapoli has proposed legislation to codify his ban on the involvement of placement agents, paid intermediaries and registered lobbyists in investments with the Common Retirement Fund (CRF).
Consultancy Aon Hewitt cautions that while the pensions deficit for the UK’s largest companies remained stable in May, major changes to accounting standards could increase shortfalls by £10 billion.
