New Illinois Bill Would Consolidate more than 650 Police and Fire Pensions
Debates ensue over projected returns, transition costs, and throwing the fund’s impeccable funded ratio off-balance.
Regulation
Senators Grill the Feds After Allowing Retirees to Receive Lump-Sum Benefits
Retirees sometimes left devoid of important information in buyout decision–making process, lawmakers argue.
Yale Alum Charged with Running Hedge Fund Scam While Student
Omar Zaki agrees to $25,000 SEC fine, three-year ban from investment industry.
SEC Releases Framework for Digital Assets
Guidance intended to help investors determine when a digital asset is a security.
House Committee Passes Bill to Overhaul Retirement Plans
Legislation would increase 401(k) contributions, plan portability.
Kentucky Bill Would Allow Institutions to Leave Troubled Retirement System
Opponents call bill ‘idiotic and irresponsible.’
Supreme Court Widens Scope for Fraud Claims
Supports SEC in allowing agency to hold individuals liable even if they did not make a statement deemed fraudulent.
FCA Fines Goldman Sachs £34.3 Million for Reporting Failures
Firm allegedly made more than 220 million errors over nearly a decade.
Africa’s Biggest Fund Suspends Acting CEO
Matshepo More’s predicament the latest drama for the organization.
Brown University President Rejects Israel Divestment
Christina Paxson says endowment is ‘not a political instrument.’
Georgia County Manager Charged with Pension Fraud
Romantic interest allegedly led manager to mislead pensions.
Hedge Fund Manager Gets a 14-Year Prison Sentence for Fraud
Raymond K. Montoya’s Ponzi scheme victims included family, friends, and acquaintances.
Can Annuities Save Multiemployer Pensions?
Northwestern professor says annuities could have helped avoid the crisis.
Brazil’s Military Now Part of Pension Reform
President’s latest proposal aims to save about $3 billion over the next decade.
SEC Charges Volkswagen with Defrauding Bond Investors
Regulator accuses automaker of ‘massive fraud’ to sell bonds at inflated prices.