A majority of claims, dating from early 2009, against the Royal Bank of Scotland have been dismissed by a US judge on the precedent that investors cannot use federal courts to raise fraud claims over the purchase of foreign securities.
As part of the Stichting Investor Claims against Fortis Foundation, institutional investors have launched a claim accusing Fortis of making misrepresentations to the market and to its shareholders.
A group of seven major public pension schemes are being led by New York City Comptroller John Liu to press the largest US banks to better examine their mortgage and foreclosure practices.
While denying any wrongdoing, Steve Rattner has agreed to
pay $10 million to settle charges that he and the firm he founded bought access
to New York’s Common Retirement Fund.
With three days to go before a state takeover, another proposal (30 years of dedicated parking revenue) and rejection (by Mayor Luke Ravenstahl) in the search for a Pittsburgh pension solution.
Two Motor City pension funds
have seen large write-downs on bad investments, many of which are tied to
recommendations from placement agents and an investment consultant.
Following the release of diplomatic cables quoting the current
RBS Chairman claiming that former directors may have breached their fiduciary
duty, a potential lawsuit, and embarrassment.
Odyssey Investment Partners LLC and HFV Management LP have reached agreements with New York Attorney General Andrew Cuomo that resolve probes of their involvement with pay-to-play at the state pension fund.
A new report by EarthRights International (ERI) has shown how the Norwegian Government Pension Fund Global has $4.7 billion invested in 15 oil and gas companies from eight countries operating in Myanmar, putting Norway in violation of its own Ethical Guidelines for responsible investment.
A legal firm hired to scrutinize the CalPERS’ staffing and conflict-of-interest issues has recommended barring employees from leaving for asset management firms with ties to the pension giant.
While lawsuits over allegedly imprudent cash-collateral reinvestment programs continue to work their way through the courts, a Senate subcommittee has reportedly started an investigation into securities lending providers.
Mohamed El-Erian at Pacific Investment Management Co, which runs the world's biggest bond fund, has revised his outlook for US growth in 2011 following President Barack Obama's tax-cut compromise deal.
