Vending Machine Owner Indicted for Embezzling from Employee Pension
Howard Preschel allegedly claimed the plan’s money belong to him, not his workers.
Regulation
Australian Supers to Post Common Data on Their Performance
Regulator is requiring the retirement funds to provide the public with metrics on returns and fees, starting in 2020.
SEC Settles Charges Against 79 Advisers
Violators agree to return more than $125 million to clients.
Pension Sues Banks over Euro Bond Scandal
Lawsuit accuses Bank of America, Royal Bank of Scotland of rigging European government bond prices.
Dallas Police and Fire Wins Court Ruling on Post-Retirement Income
Texas Supreme Court sides with fund’s reduction of required 8% return from special program.
Adviser Fined $1.6 Million for 25 Years of Pension Fraud
Restitution order comes after sentence of 41 months in prison.
New York State Comptroller Calls Out 4 More Companies on Board Diversity
Common Retirement Fund has now filed shareholder demands against 33 businesses.
FCA Issues No-Deal Brexit Tips for Firms
UK regulator says it has prepared for a range of scenarios for when the UK leaves the EU.
Moody’s Cautiously Upbeat on Brexit Extension
Ratings agency says allowing more time for EU talks would be ‘credit positive,’ though it isn’t upgrading Britain now.
Church Investors Want to Speed Up ESG Reforms for FTSE 350 Companies
Climate change, board diversity among $27.7 billion faith group’s top priorities.
Accountant Trustee Used Pension as ‘Personal Piggy Bank’
UK regulator also charges husband and wife for defrauding charity.
Fort Worth Declares Pension Problem ‘Solved’
City employees approve plan to increase contributions to retirement fund.
Odds Improving that Kentucky Will Pass Sports Betting to Help Bolster Pensions
However, bill would need 60 of 100 House votes to pass.
Investors Propose Remedy for Korea Discount
Group says Korean equities have ‘chronically underperformed’ for seven years.
Molson Coors Hit with Class Action Lawsuit
Complaint accuses CEO and CFO of making false and misleading statements.