Hedge Fund Bond Price Investigation Focuses on Thinly-Traded Bonds
Since bonds are rarely traded, pricing is difficult to verify, making it “ripe for abuse.”
Regulation
Mexico Sanctions Four Retirement Fund Administrators $58.6 Million
Regulator alleges administrators engaged in “monopolistic practices.”
Barclays Settles SEC Charges for $97 Million
Investment bank to create fair fund to pay back clients.
Labor Department Investigates 3M Pension Plan
Inquiry relates to private equity investments, expenses, securities lending, and distributions of benefits.
EB-5 Visa Program Faces Calls for Reform Even as it is Extended by Congress
Key issues include reforming minimum investment amounts, stricter oversight and reclassification of targeted employment areas (TEAs), and visa-processing inefficiencies.
Groups Partner to Examine Bitcoin’s Blockchain Application in Securitization Markets
Partners tout benefits of blockchain platforms to help industry comply with regulations, among other benefits.
Pension Funds Seek Benefits Suspension Approval
Five funds apply to the Treasury Dept. to have benefits reduced for their members.
Teamster Pension Withdraws Benefits Reduction Application
New York-based plan expected to resubmit application with revised assumptions.
High Court to Decide if Church-Affiliated Pension Plans Are ERISA Exempt
Hospital System employees argue that pension plans were wrongly classified.
ILPA Pushing Fee Template Implementation
ILPA is focusing on leveraging the experience of the early adopters to push global implementation.
European Parliament Approves Shareholder Rights Changes
New rules designed to prevent short-term excessive risk-taking, give shareholders input on director salaries.
UK Pension Regulator Secures $446 Million Settlement for Ex-BHS Staff
BHS owner Sir Philip Green will provide funding for a new independent pension plan.
Revoking Dodd-Frank Transparency Provision Sparks Corruption Discussions
Bill would require disclosure of payments to foreign governments and possibly spotlight unaccounted revenue, but could give foreign governments an advantage.
DOL Rule Generates More Fiduciary Buzz Among Institutions
A best practice includes creating an appropriate investment policy.
Class Action Reform Bill Could Hurt Pension Funds, Institutional Investors, Law Firms
Bill may prohibit institutional investors from hiring the same law firm more than once.