PAAMCo Refutes Allegations It Misled Investors Over Women-Owned Status
Pacific Alternative Asset Management Company (PAAMCo) is in the spotlight over whether it was "designed to mislead" by appearing as a women-owned business.
Regulation
Law Firm Manatt Phelps & Phillips Settles Role in NY Pension Investigation
The law firm has agreed to a five-year ban from appearing before all New York public pension funds and will comply with the attorney general’s reform code of conduct.
Two Former State Street Execs Battle SEC Charges
The regulator is charging two former top State Street Corp. executives of misleading investors in a bond fund at the center of a $313 million settlement between parent State Street and the SEC earlier this year.
US Chamber, Business Roundtable Sue SEC Over Board Nominations
The country's biggest business lobby and another business group are
challenging the Securities and Exchange Commission's new rules that make
it easier for shareholders to nominate directors of public companies
and to oust sitting directors.
Norway's Central Bank Sues Citigroup for Stock, Bond Losses
The lawsuit is the latest in a string of legal actions against Citigroup and other large US institutions from investors who lost money in the economic downturn.
SEC Requires Placement Agents to Register by Oct. 1
As part of the Dodd-Frank bill, about 1,000 unregistered placement agents for institutional money managers will have to register with the Securities and Exchange Commission by October 1.
SEC Delves Into High-Frequency Trading Restrictions
In a speech that comes just before the SEC's report on the "flash crash," the regulator's chairman provided an early indication of how her agency wants to construct a more scrutinized derivatives market.
Morgan Stanley Execs Fight for Dismissal of Shareholder Suit Over Pay
Morgan Stanley lawyers have argued that shareholders had not shown legal standing to seek damages at trial and are seeking to dismiss their lawsuit, partly on grounds that the allegations were too vague.
Ex-Intrepid Museum Chief to Pay $1 Million in Cuomo's Pension Probe
Bill White, the former president of the Intrepid Sea, Air and Space Museum, has agreed to pay $1 million to end the investigation of his role in funneling investments to the New York's Common Retirement fund.
After Settled SEC Suit, Goldman Battles $27 Million CDO Probe by British Regulators
Following
Goldman Sachs' $550 million settlement with the US Securities and
Exchange Commission, the bank faces yet another fine, this time by the
UK's Financial Services Authority.
Chinese Regulator Allows Insurers to Dip Their Feet Into PE and Real Estate
China has approved insurers to hold stakes and invest in private equity and property of privately-held companies to ease insurers' investment pressure and diversify risks, according to the the China Insurance Regulatory Commission.
Pay Scandals Encourage CA Bill to Tackle Inflated Pensions
In response to pay scandals in the Los Angeles city of Bell, California lawmakers advanced legislation early this week to curb "pension spiking" in the state´s two largest pension systems.
SEC Steps Up Crisis Action
The US Securities and Exchange Commission (SEC) has warned that it will bring more high-profile enforcement actions against Wall Street over the financial crisis.
SEC Gives Power to Shareholders to Influence Boards
Long sought by investor advocates, the new rule by the SEC makes it
easier for shareholders to nominate directors of public companies.
Former Wesleyan University CIO Sued by CT Attorney General
Connecticut's attorney general alleges that Thomas Kannam's “golf outing of the century” in California, a Super Bowl outing, and a trip to the United Kingdom with his entire family to interview for a job at Cambridge University were flagrant abuses of both his power and of the university's endowment assets.