Northrop Grumman Pays $12.4 Million to Settle 401(k) Lawsuit
Lawsuit said firm’s alleged fiduciary failures caused plan to lose over $13 million
Regulation
PBGC Approves Facilitated Merger of New York Pension Funds
Pension lifeboat will provide three annual payments of $8.9 million to merged plan.
Michigan Police Pension Files Securities Lawsuit Against Prudential
Fund alleges insurance giant provided false information that artificially inflated its stock.
Arizona’s State Pension Contends With ‘Very Troubling’ Accounting Errors
Audit reveals a lack of internal controls may have misappropriated funds within the retirement system.
Investment Advisors, Fintech Innovations Top SEC’s Priorities for 2020
Commission will also pay close attention to market infrastructure, seniors saving for retirement, and information securities.
Riskier Pension Investments Have UK Watchdog Group on Alert
Moves to counter low yields can expose plans to greater losses, less stability.
Trader Joe’s Retirement System Hit with Lawsuit Alleging ERISA Breaches
Ex-participants of the popular food chain’s retirement plan bring allegations of ’dramatic’ pains.
Canadian Defined Benefit Plans Surge at End of 2019
Rising bond yields, strong asset returns bring funded ratio to near all-time high.
Top Fraudsters and Financial Crimes of 2019 in the UK
Eco-investment scheme tops list of more than 600 convicted frauds.
MetLife to Pay SEC $10 Million Fine Over Pension Accounting Violations
Firm assumed annuitants were dead or unreachable if they didn’t respond to two mailings.
CFO Pleads Guilty for Role in $1 Billion Ponzi Scheme
Funds were ‘pilfered’ to purchase luxury vehicles, real estate, and to pay earlier investors.
Tales from the Crypt: Investors Suspect Cryptocurrency Firm Founder Faked His Death
Lawyers want body exhumed, $61 million liquidated before death can’t be accounted for.
SEC Charges CEO with Fraudulent Initial Coin Offering
Tech firm allegedly raked in $42 million by defrauding hundreds of investors.
SEC Freezes Solar Panel Maker’s Assets Over Alleged Fraud
Executives allegedly used funds for yacht, sports cars, cosmetic surgery.
Proposal Denied! SEC Rejects Plan to Allow New Capital Raises Through Direct Listings
NYSE’s new idea hits a roadblock.