UK Industry Group to Advise on GMP Equalization
PASA-led group will help pensions abide by High Court ruling.
Regulation
Mexico to Double Pension Benefits, Reduce Retirement Age
President Obrador’s latest move seeks to continue mayoral mission.
New Kentucky Pension Group Forms to Try Bypassing Stalemate
Bipartisan division will try to analyze the state’s funding gap and develop passable pension proposals by mid-February.
Bill Proposes Creation of Pension Rehabilitation Administration
Proposed legislation aims to save critical and declining multiemployer pension plans.
Fitch Rebuts Kentucky Governor’s Ratings Allegation
The agency says the state’s lack of pension overhaul won’t hurt its rating, despite Bevin’s warning.
Swiss Regulator Facing Criticism over Public Employee Pension Revamp
The OAK prefers a uniform interest rate for the public workers and two other retirement plans, which a lobbying group says is wrongheaded.
New Mexico Considers New Solvency Proposal
Proposes three-year suspension on COLA adjustments to help attain 100% funded status by 2043.
Kentucky Lawmakers Return to Tackle Retirement System Mess
Pension reform, stymied in court, is on the top of the lawmakers’ agenda.
Nevada High Court Orders State Retirement System to Release Records
State Supreme Court denies Nevada PERS’s petition for a rehearing.
JPMorgan to Pay $135 Million for Improper ADR Handling
Settlement is the SEC’s eighth action against a bank or broker in its ongoing ADR investigation.
TPR Investigates Suspected £18 Million Pension Fraud
Regulator also charges account manager of concealing workplace pension failures.
SEC Charges Audit Firm in Failure to Detect Unpaid Taxes
Crowe LLC let $100 million in unpaid taxes slip under its radar, SEC alleges.
BNY Mellon to Pay More than $54 Million for “Pre-Released” ADRs
SEC says ‘improper practices’ allowed banks and brokerage firms to ‘profit handsomely.’
MetLife Pension Payout Snafu Leads to $1 Million Fine
Insurer failed to pay 13,500 pensioners incorrectly labeled as ‘presumed dead.’
Former Executives Fined $2.7 Million over ICO Scam Charges
AriseBank claimed to be the world’s first decentralized bank.