PBGC Bails Out Service, Manufacturing, Transportation Pension Funds
The three plans will receive more than $600 million for back payments and to protect their solvency through 2051.
Regulation
Stocks Are ‘Perfect Hedge’ Against Inflation, Siegel Says
Economist and Wharton School professor Jeremy Siegel likes stocks as the safest investment this year.
PBGC Bails Out Bakery Driver, Newspaper Plans
The two pension plans will receive more than $300 million in SFA relief.
Kansas Governor Allows Anti-ESG Bill to Become Law
Laura Kelly neither vetoes nor signs bill, permitting its implementation despite ‘reservations about the potential unforeseen consequences.’
DOL Offers Guidance for Multiemployer Plans
Bulletin provides FAQ to help plans that received Special Financial Assistance meet notice requirements.
Nevada Bill Marks Third Try at Establishing State-Sponsored Retirement Plan
Two previous attempts to pass similar legislation ended up going nowhere.
Industry Consensus Begins to Emerge on SEC Market Proposals
Execution disclosure and tick-size changes are good; Reg BE and mandatory auctions are criticized.
Canada Passes Pension Bankruptcy Protection Bill
Bill will make plan members top priority when a company becomes insolvent.
Gensler Defends SEC Proposals at House Oversight Hearing
SEC Chairman Gary Gensler spoke about the importance of SEC regulation on climate disclosure, swing pricing and artificial intelligence.
Representative Andy Barr Looks to Increase RIA Registration Exemption Amount
Proposed legislation would tie the amount of assets that require an adviser to register with the SEC, currently $150 million, to inflation for the first time.
SEC’s ESG and Climate Task Force Levies First Enforcement Action
Brazilian mining firm Vale SA fined $56 million for fraud that led to fatal 2019 dam collapse.
Recent SEC Proposals to Come Under Scrutiny of Financial Services Committee
The full House Committee on Financial Services has scheduled an oversight hearing for the SEC next week, when climate disclosure will likely be a high priority.
UK Launches Green Finance Strategy
The British government hopes to raise more than £1 billion annually toward reaching net zero by the end of the decade.
Recent Investment Company Act Exemption Could Lay Groundwork for More
SEC defines parameters for one tech company to invest in ‘capital preservation instruments’ without having to register as an investment company.
Cement Workers’, Teamsters’ Pensions Receive Additional PBGC Funding
The PBGC paid out $438 million in additional funding to the NYS Teamsters Conference Plan and smaller amounts to three other plans.