Canada's Big Banks and Pensions Bid for TMX
A consortium of nine Canadian banks and pension funds are bidding for TMX Group, the exchange operator.
Regulation
With Due Diligence on Appointing Fiduciary Managers, US Pensions Have Leg Up on UK Counterparts
While consultants say UK pension schemes should be legally obliged to perform due diligence before appointing a fiduciary manager, due diligence is 'nothing new in the US,' Towers Watson says.
Fed Chairman Urges More Stringent Rules for Big Banks
Federal Reserve Chairman Ben Bernanke has said the Fed will unveil new regulations that would guard the US economy from another meltdown of the nation's largest financial companies.
State Street Encounters Heightened Scrutiny Over FX Transactions With SEC Probe
The Securities and Exchange Commission has joined state and federal investigators looking into whether State Street Corp. overcharged investment clients millions of dollars for foreign exchange transactions.
UK Pension Association Champions Single Regulatory Body
The UK's National Association of Pension Funds has concluded that a single body responsible for pensions is necessary to simplify the regulatory environment.
In Latest Pay-to-Play Investment Scandal, New Mexico Files Lawsuits
After more than a year of speculation, New Mexico’s State Investment Council (SIC) has filed two lawsuits involving former Investment Officer Gary Bland and associates of then-New Mexico Gov. Bill Richardson.
Hedge Fund Manager Raj Rajaratnam: Guilty on All Counts of Insider Trading
In a high-profile case of insider trading, hedge fund manager Raj Rajaratnam has been found guilty on all 14 counts of securities fraud and conspiracy.
Regulators Probe Goldman Sachs Clearing Unit
The CFTC may bring charges against Goldman Sachs for improperly passing along analysts' tips to top clients.
BP Aims to Dismiss Shareholder Claims Over Oil Disaster
The firm has asked US District Judge Keith P. Ellison to restrict any surviving investor fraud claims to owners of BP American depositary receipts, Bloomberg is reporting.
Ponzi Scheme Accountant Pleads Guilty in Connecticut
A Venezuelan pension plan had invested $500 million – or 20%
of its assets – in an unregistered investment vehicle for which the accountant
provided falsified documents.
CBO: Change Public Pension Accounting to Fair-Value Method
A Congressional Budget Office brief suggests that valuing assets and liabilities via more reasonable accounting assumptions will provide a clearer picture of America’s pension underfunding problem.
Iowa Public Pension Recovers $215 Million in Fraud Case
As part of the recovery of funds that were frozen in an investment fraud case in New York, more than $215 million in Iowa public employee retirement funds have been transferred to the state.
State Street Investigated Again in FX Probe
Massachusetts Secretary of the Commonwealth William F. Galvin is looking into the third-largest custody bank over its handling of foreign-exchange transactions.
SEC, CFTC Reveal Swap Definitions
The SEC and CFTC have laid out long-awaited swaps definitions covered under the Dodd-Frank law.
SEC Ends PAAMCo Probe Without Charges
Pacific Alternative Asset Management Co. will not face a Securities and Exchange Commission enforcement action over its relationship with Paloma Partners' Donald Sussman.