Supreme Court Hears Case That Could Invalidate Administrative Courts
The ruling, expected in June 2024, could have a wide-ranging impact.
Regulation
Asset Management Advisory Firm President Charged by SEC in Massive Fraud
John Hughes bilked dozens of victims of nearly $300 million in a ‘brazen and sophisticated fraud’ and has already pleaded guilty to criminal charges.
FINRA Proposes Allowing Projected Performance in Marketing to Institutional Investors
The regulating body breaks with its previous skepticism of projected performance, but only for qualified purchasers and institutional investors.
PBGC Reports Glowing Financial Health
The pension insurer is well in the green, but conditions can be volatile.
Congress Passes Continuing Resolution
The temporary budget would keep the government funded into next year.
Federal Court Enters Judgment Against Former Hedge Fund Trader
Premium Point had inflated the value of private funds it advised by hundreds of millions of dollars to hide poor performance.
Proposed Senate Bill Requires Chinese Investment Disclosures for Private Funds
The legislation would also cover investments in Russia, Iran and North Korea.
Should SEC’s Rule 605 Come Before Other Market Structure Proposals?
Of the four market structure proposals, Rule 605 is the most popular, and some argue it should be implemented ahead of the others.
PBGC Updates Mortality Tables for 2024
The tables are used for calculating withdrawal liability and missing participant program transfer amounts.
Israel-Hamas War Puts Cryptocurrency in CFTC, Treasury Crosshairs
Federal regulators speaking at a SIFMA conference noted crypto’s role in illicit finance, including in the war in Gaza.
District Court Upholds PBGC Denial of Restored Pension Fund’s Grant Application
Local 550’s plan was terminated in 2016 and restored itself in 2022 before applying for a special financial assistance grant, which was denied.
Proxy Voters, ESG Groups Continue to Face Congressional Scrutiny
Advisory service providers and a decarbonization nonprofit were served with subpoenas by the House Judiciary Committee.
European Regulator to Revise Pillar 1 to Include ESG Risk
Investment firms are being told to accelerate their integration of environmental and social risk into capital requirements.
Local 210’s Plan Receives $49.3M PBGC Grant
The New York-based plan was projected to become insolvent in 2026.