Kentucky Pension Fights to Retain Control of Governance
Proposed legislation would give state government the final say on trustee selection, staffing, promotions, and provider contracts.
Regulation
Carlyle Accused of Fraud by Ex-Employee
A former portfolio manager claims he was fired for blowing the whistle on “crazy” and “irresponsible” investments.
Morgan Stanley Pays $3.2B in MBS Settlement
The bank admitted to securitizing mortgage loans with full knowledge of their “material defects.”
Former London Whale Boss Fined $1M
Achilles Macris allegedly failed to be “open and co-operative” with the UK’s financial watchdog.
SEC, Regulators Probe Ex-Hedge Fund BlueCrest
The hedge fund-turned-family office has received “a number of inquiries” since announcing it would return $8 billion to investors.
Taking the Guesswork Out of Private Equity Fees
After years of pushing private equity firms to change, investors finally have a clear set of demands.
Record Fines for Barclays, Credit Suisse Over Dark Pool Violations
The two firms will pay more than $150 million to the SEC and New York Attorney General’s office for allegedly misleading investors.
UK Public Funds Target Pooling Savings
£300 million or more could be saved through ambitious collaborative projects, UK public pensions say.
Cohen Builds Out Family Office, Eyeing Possible Return
The former hedge fund firm turned family office is back with a London base, while a deal with the SEC "opens a path to raising outside capital" in the future.
SEC: State Street Engaged in Pay-to-Play
The Boston-based firm was accused of making political contributions in exchange for Ohio pension fund contracts.
Russell: Borrowing Is Cheaper Than PBGC Premiums
Fully funding pensions now allows plan sponsors to avoid costly premiums and take advantage of tax arbitrage, according to Russell Investments.
Scrap DB to Save Public Pensions, Says Think Tank
An outspoken critic of UK public pensions has published bold proposals for reform—but a switch to DC has been labelled a potential “tragedy” for employees.
Steven Cohen Banned From Supervising Hedge Funds Until 2018
The SEC barred the hedge fund manager from handling outside money for two years following charges related to insider trading.
Pensions Strike $150M London Whale Settlement
The cash deal ends a three-year legal battle with JP Morgan following the bank’s $6.2 billion loss.
State Street Overbilled Clients $200M
Excess charges to asset servicing clients spanned a period of 18 years, the firm said.