Second Contracting Firm Exec Pleads Guilty to PBGC Bribery Conspiracy
COO James Girardi admitted he was aware of illicit arrangement between CEO and PBGC official.
Regulation
Court Rules for Colgate Retirees in Benefit Calculation Lawsuit
Colgate may have to pay a total of $300 million to 1,200 retirement plan participants.
Teamsters Pension Asks Supreme Court to Reverse PE Firm Withdrawal Ruling
Pension says circuit court ruling ‘provides a blueprint’ for private equity funds to ‘escape withdrawal liability.’
Incoming Norges Bank Chief Nicolai Tangen to Sell Hedge Fund Holdings
The divestment addresses concerns raised at a parliamentary hearing earlier this month.
Oregon Supreme Court Upholds Pension Benefit Cuts
Unanimous ruling finds that an employer is not prevented from changing the terms of future work.
SEC Charges Texas CEO with Swindling First Responders
Many of the alleged victims scammed out of retirement funds were former San Antonio police officers.
Advocacy Group Calls New Labor Department Rule ‘Anti-Consumer’
Pension Rights Center says the policy contradicts recent Supreme Court ruling and DOL guidance.
GOP Senators Introduce Bill Allowing DC Catch-Up Contributions
AMORE Act is intended for those who couldn’t afford to make contributions because of COVID-19.
Research Calls Lack of Diversity Atop Financial Regulators a ‘Bipartisan Failure’
There has never been an African American chair of the SEC, CFTC, or FDIC.
Cryptocurrency Firm Co-Founder Pleads Guilty to Coin Offering Fraud
Sam Sharma could face up to 15 years in prison for defrauding victims of $25 million.
SEC’s Proposal to Raise 13F Threshold Stifles Transparency, Critics Say
Dissenting commissioner says regulator doesn’t have the legal authority to raise reporting criteria.
Kentucky High Court Dismisses Suit over KRS’ ‘Risky’ Investments
Court ruled plaintiffs had no standing because they weren’t personally injured by allegations.
US Bill Would Create Lost and Found for Retirement Savings
An estimated 30% of all US employees have left a retirement account at a previous employer, lawmakers say.
Mississippi Pension Sues Mylan over Alleged Scheme to Deceive FDA
President Rajiv Malik is accused of ordering workers to manipulate quality control data.
Jack Abramoff Charged in Cryptocurrency Fraud
Lobbyist could face 10 years in prison for alleged role in touting digital asset that was purportedly superior to Bitcoin.