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.
Regulation
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.
CalPERS Votes to Separate Chairman and CEO Roles at Goldman; Blankfein Defends Reputation
The largest U.S. public pension fund said it believes if the Goldman chair is not the CEO, the board may be able to exercise stronger oversight of management; Goldman CEO Lloyd Blankfein faced shareholders at the annual meeting Friday in New York.
CalPERS Case Against Rating Agencies Proceeds
The agencies all gave "triple-A" ratings to several structured investment vehicles that collapsed in 2007 and 2008.
PBGC Accused of Lax Controls; Faces $12.9 Billion Deficit
Auditors found that PBGC, which protects workers’ benefits when a company defaults on its pension plans, suffered from a "material weakness," the accounting equivalent of an F grade.
Pension Funds vs. Buffett in Goldman Battle
US pension funds and other shareholders have aggressively sued
Goldman Sachs in the wake of SEC fraud charges, but the Oracle of Omaha
defends the bank's credibility.
DB, DC Funds Could Suffer From Swap Regs; FDIC Chairman Slams Derivatives Spinoffs
Pension industry lobbyists have been
trying to persuade Senate leaders to change and clarify the legislative
provisions that would negatively impact pension fund swaps; the FDIC's
Sheila Bair opposes segregation of swaps units.
Judge Tosses Out Former Pension Fund CIO's Fraud Case in New Mexico
District Judge Stephen Pfeffer dismissed the
pay-to-play lawsuit filed by Frank Foy, former CIO for the New Mexico
Educational Retirement Board.