Wells Fargo Ex-CEO Stumpf Pays $2.5 Million to Settle SEC Charges He Misled Investors
Former Community Bank head Carrie Tolstedt has also been charged by the regulator.
Regulation
SEC Collects Record $4.68 Billion in Disgorgement, Penalties in Fiscal 2020
The regulator also doled out a record $175 million to whistleblowers during the year.
UK Pension Cleared to Sue Apple over Alleged Misleading China Comments
Judge says it ‘strains credulity’ that CEO Tim Cook was unaware of potential impact of trade tensions on iPhone sales in China.
FBI Arrests Head of Wealth Management Firm for Fraud
Terrence Chalk, aka Dr. Cash, allegedly hid his criminal past to defraud investors out of more than $4 million.
Judge Rules Sterne Agee Analyst Complicit in NY Pension Pay-to-Play Scheme
John Paulsen planned ski trip for New York state pension fund fixed-income director in exchange for business directed to firm.
Rhode Island Pension Sues Restaurant Brands over Offerings
Lawsuit alleges the fast-food company misled investors about the underperformance of its Tim Hortons chain.
DOL, Dubious About ESG Pension Investing, Cuts It a Bit of Slack in Final Rule
The regulation still requires that plans only use financial considerations in investments, but says companies’ pollution and bad governance may be factors, too.
UK Regulators Fine Goldman Sachs International $126 Million for 1MDB ‘Failures’
The Financial Conduct Authority and the Prudential Regulation Authority said the firm allowed severe misconduct to go unaddressed.
Old British Steel Pension Secures $2.6 Billion Buy-in; Buyout Expected in 2021
UK pension lifeboat PPF said the plan is better funded than expected.
Institutional Investors Press CEOs to Disclose Climate Lobbying Practices
Group says companies will be held accountable for not aligning with the goals of the Paris Agreement.
Pennsylvania PSERS Freezes Apollo Global Investments over Epstein Ties
State teachers’ pension fund has more than $900 million invested with Apollo.
President of Purported VC Firm Pleads Guilty to Securities, Wire Fraud
Marc Lawrence faces maximum of 60 years in prison for his role in Ponzi-like scheme.
Chicago Pension President Decries Board’s Culture of Racism, Sexism
Jeffery Blackwell says he has ‘been on the receiving end of sabotage, intimidation, and racist comments’ from colleagues.
Ex-Trader Gets More Than 5 Years in Prison for Ponzi Scheme
Paul Rinfret pleaded guilty to defrauding investors of more than $19 million
SEC, SDNY Charge Seismic Data Firm in $100 Million Accounting Fraud
Former SAExploration CEO faces up to 65 years in prison in connection with alleged scheme.