Mercer Settles Alaska Pension Suit for $500 Million
The
Alaska Retirement Management Board blamed Mercer for unfunded
liabilities.
Regulation
Former Hevesi Aide Led $35 Million Fraud Scheme, Cuomo Says
On Monday, New York's
attorney general said in court papers that just because "everybody does
it" in Albany, doesn't mean corruption is
legal.
Growing Pressure to Tighten ESG Pension Rules Following Gulf Disaster
BP’s oil fiasco has pushed lobbyists in the UK to urge pensions to disclose what environmental, social and governance (ESG) issues are taken into account in their investment policy.
CalSTRS Sues Massey Energy
The California State Teachers’ Retirement System has joined forces
with Amalgamated Bank and Manville Trust to file a lawsuit against
Massey Energy for alleged safety misconduct.
Bad News for Public Pension Funds and Taxpayers
The Government Accounting Standards
Board will be releasing a preliminary views document later this month
that may shock public pension systems and the taxpayers who fund them.
CalPERS Claims Goldman Concealed SEC Probe
Mounting problems for Goldman: CalPERS claims that when Goldman
applied with the fund to become a real estate investment consultant, it
misled the fund about it's legal status, specifically stating that it
was not "the target of a formal investigation."
Charles Millard, Former PBGC Head, Exonerated
Charles Millard, who had been suspected of improper dealings with financial firms doing business with the PBGC, has been exonerated of all charges.
Key EU Committee OKs Hedge Fund Clampdown
The decision by European lawmakers
likely will accelerate a wider regulatory overhaul of financial
services.
Survey: Pensions and PE Have Misaligned Interests
A survey from IE Consulting
shows a majority of pensions believe misalignment of interests with
their private equity managers (GPs) had become more apparent during the
crisis.
SWFs Caution Against Investment Restrictions
Uncertainty is affecting investment policy and combined with the
recent heightening of sovereign risk, is resulting in a highly complex
operating environment for sovereign funds.
SEC's New York Chief Targets Institutional Investors; Wall Street Probe Deepens
The head of the US Securities and Exchange Commission’s Manhattan
office said the financial crisis has propelled him to scrutinize
products normally sold to institutional investors; US regulators have
widened their probe into Wall Street banks.
Nine State Investors Oppose Massey Directors
Poor
safety records in regards to the April 5 explosion in West Virginia
that killed 29 men and injured two have incited Massey Energy Inc.
shareholders to rebel against the coal company.
Cuomo Files Suit Against Ivy, Former CEO and Ex-CIO Over Madoff
New York Attorney General Andrew M. Cuomo's civil suit
against Ivy Asset Management and two senior executives
puts asset
managers on the hot seat, yet the execs say they
plan to fight the allegations.
BlackRock and Lobby Groups Champion to End Swaps Fiduciary Rule
Barbara Novick at BlackRock said the new regulatory-overhaul
legislation would be the poster child for unintended consequences.
Former CalPERS Official Villalobos Denies Fraud Accusations
Alfred R. Villalobos, a former CalPERS official accused of serving as
a placement agent, denied fraud accusations in a statement yesterday,
saying the attorney general's suit against him was filled with
significant factual errors.