SEC Releases Framework for Digital Assets
Guidance intended to help investors determine when a digital asset is a security.
Regulation
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.
Vending Machine Owner Indicted for Embezzling from Employee Pension
Howard Preschel allegedly claimed the plan’s money belong to him, not his workers.
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.