Fort Worth Lawmakers Mull Pension Fixes
Mayor hopes for compromise despite city council, police, and firefighter frustrations.
Regulation
UK Trustees Could Face Climate Risk Lawsuits
ClientEarth says pensions’ legal responsibilities on climate risk are evolving.
TPR Charges Accountant for Giving False Information
Hashmukh Shah accused of falsely claiming firm enrolled staff in pension plans.
Brewery, Chairman Fined for Withholding Information from TPR
Samuel Smith Brewery, Humphrey Smith ordered to pay nearly £28,000.
Calif. High Court Rules San Diego Pension Cuts on Ballot Illegally
Decision could cost the city millions in creating retroactive pensions.
UK’s TPR to Launch Spot Checks on Suspect Employers
Pension regulator to target automatic enrollment scofflaws.
NYC Pays $20.6 Million Settlement over Nurses’ Pension Dispute
City wrongly denied ‘physically taxing’ status that would have allowed early retirement.
UK’s High Court Approves Royal London’s Annuity Proposals
Insurance firm says policyholders are throwing away valuable guaranteed rates.
NY State Pension Manager Gets 21 Months in Prison for Pay-to-Play
Navnoor Kang steered business to brokers in exchange for money, drugs, and prostitutes.
TPR Fines Rentokil Trustee £25,000 for Missed Valuations
Pension failed to complete triennial valuations in 2013 and 2016.
Australia’s Self-Managed Pension Advisors Giving Bad Advice
Report finds that 91% of advisors noncompliant with the law.
SEC Charges KBR with Inflating Performance Metric
Firm agrees to pay $2.5 million fine to settle with regulator.
SEC Charges Firm for Failing to Supervise Rogue Brokers
Alexander Capital to pay more than $400,000 in fines for brokers who ‘churned’ accounts.
TPR Fines Trustees for Not Reporting Unpaid Contributions
Smart Pension failed to collect and invest nearly £900,000 in pension contributions.
FCA Looks to Protect Consumers’ Pensions
UK financial body launches consultation on proposed measures to help plan participants.