KPMG to Pay $50 Million for Using Stolen Data, Exam Cheating
SEC calls breadth and seriousness of the misconduct ‘astonishing.’
Regulation
Former Otéra CEO Sues CDPQ After Being Fired for ‘Ethical Failings’
Alfonso Graceffa accuses pension giant of conducting smear campaign against him.
FCA Says Too Many Advisers Giving Bad Pension Advice
More than twice as many members were counseled to transfer out of their DB plans than told to stay put.
SSM Health Agrees to $60 Million Settlement in Church Plan Lawsuit
Workers accused the health system of improperly claiming it was a church plan.
Chinese Bank to Pay over $42 Million for Improper ADR Handling
Investigation into ADR practices has so far netted SEC more than $414 million.
House Committee Advances Multiemployer Pension Reform Bill
Butch Lewis Act aims to protect hundreds of pension plans at risk of becoming insolvent.
Supreme Court Agrees to Hear Case on ERISA Statute of Limitations
Lawsuit against Intel claims company plans included overly risky investments.
SEC Charges Student with Running Ponzi Scheme Out of Frat House
Syed Arham Arbab allegedly promised ‘fictitious’ annual returns of up to 56%.
Kik Sued by SEC for Conducting $100 Million Unregistered ICO
Regulator says firm prevented investors from making informed decisions.
UK Academics Demand Inquiry into USS Pension Fund
More than 1,000 professors call for investigation into largest UK private plan’s deficit.
UAW Pension Fund Urges Mylan to Bolster Pay Policy
Pension wants firm to recoup incentive compensation from execs who behave badly.
Philip Green Wins Support from Regulators for Arcadia Rescue Plan
Regulators satisfied with £385 million package despite demanding £25 million more.
TPR Replaces Pension Trustees over Incompetence
Regulator names independent trustee to oversee Dunnes Stores DC plan.
Supreme Court to Investigate IBM Stock Drop’s Influence on Corporate 401(k) Plan
Investigation could have wide-ranging effects on corporate pension plans.
Ohio Teachers Pension Sued over Eliminated COLAs
Plaintiffs says retirement system board reduced benefits unlawfully.