Audit Finds Illinois Police, Firefighter Pensions Lack Proper Oversight
State failed to regularly examine 656 public safety plans as required by law.
Regulation
UK Issues Guaranteed Minimum Pensions Conversion Guidance
But more may need to be done to achieve clarity.
SEC Bars Hedge Fund Manager for Losing Big on Risky Bets
Matthew Rossi blamed $1.8 million in losses on nonexistent rogue trader.
Australia’s IOOF Hit with Class-Action Lawsuit
Wealth management firm accused of ‘misleading or deceptive conduct.’
Brazilian Parliament’s Decision on Pension Reform Delayed
Lawmakers unable to agree on Bolsonaro’s pension reform proposals.
Houston Pension Sues Conagra over Pinnacle Acquisition
Complaint says investors were misled over benefits of $10.9 billion merger.
Alden Global Capital in Pension Pickle with Department of Labor
Investigation of the hedge fund’s media dealings could cause cracks in Gannett deal.
CBS, Moonves Deny Violations in Pension Lawsuit
Former CEO maintains that allegations of misconduct are not true.
Oregon Gov. Proposes Robin Hood Pension Solution
To fix state’s retirement systems that are ‘ill-prepared’ for economic downturn, Kate Brown plans to take from the rich and give their tax dollars to its poorly funded pensions.
SEC, FCA Sign Brexit Cooperation Arrangements
Regulators agree to continue cooperation uninterrupted after the UK leaves the EU.
Poland Proposes to Overhaul Private Pensions
Move, aimed at helping the budget deficit, will remove assets from non-government funds.
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.
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.