PIMCO: Outflows Do Not Pose Systemic Risk
The bond shop has said it has successfully managed more than $50 billion in redemptions from the Total Return Fund after Bill Gross’ exit.
Regulation
Liquid Alts, Prepare to Be Scrutinized
The heavily-advertised products operate in a regulatory "gray area," an SEC commissioner says.
Bigger Might Not Be Better for Pensions, Dutch Regulator Claims
Research by staff from the Netherlands’ financial regulator has shown that larger pensions may not always benefit from their size and scale.
PGGM Wins $100M in HP-Autonomy Settlement
The Dutch pension giant alleged that current and former staff gave “false and misleading statements” relating to the disastrous 2011 acquisition.
Investment Banks Not ‘Too Big to Ban’, Say Politicians
After forex rigging fines for investment banks, a group of US politicians wants more thought to go into whether they can continue to do business.
Managers Step Up Fight against Systemic Risk Proposals
Fund management heavyweights urge a rethink of “too big to fail” labels for industry giants.
How Pensions Could Mend Broken Markets
If more countries ran their pension systems like Denmark, financial crises could be a thing of the past, a think tank has claimed.
Deutsche Bank To Pay $55M, Ending Derivatives Probe
The German banking giant settles yet another investigation while shareholders demand a revamp of the management board.
Goldman Poaches FBI Officer Who Caught Madoff
Patrick Carroll will now police the investment bank from within its compliance department.
SEC Levels Fraud Charges at Advisors over Alts Investments
The SEC has alleged that an Atlanta, Georgia-based advisory firm broke the law when recommending alternative investments to public sector pensions.
Six Banks Fined $5.8B Over FX Rigging
Citi, JP Morgan, Barclays, RBS, UBS, and Bank of America were involved in conspiracies to manipulate exchange rates, according to regulators.
London Whale Boss Wins Privacy Case Against Regulator
The FCA improperly identified JP Morgan’s ex-international CIO in its London Whale report, a court confirmed.
Oral Agreements with Asset Managers May Be Binding, Court Rules
CalPERS could be on the hook for an alleged $100 million oral contract with an ex-manager that it never OK’d in writing.
Moody’s Junks Chicago Rating Amid Pension Crisis
The Windy City suffers a junk bond status as it deals with $20 billion in unfunded pension liabilities.
Illinois Thwarted in Attempt to Cut Pension Shortfall
Rating agencies are on alert after an attempt to reduce a $100 billion pension gap was thrown out by the state’s Supreme Court.