State Comptroller Thomas P. DiNapoli, trustee of the
$132.8 billion state and local employee retirement fund, asserted that
the New York State Common Retirement Fund was misled about the extent of
Merrill Lynch’s participation in the subprime mortgage mess.
A majority of claims, dating from early 2009, against the Royal Bank of Scotland have been dismissed by a US judge on the precedent that investors cannot use federal courts to raise fraud claims over the purchase of foreign securities.
Odyssey Investment Partners LLC and HFV Management LP have reached agreements with New York Attorney General Andrew Cuomo that resolve probes of their involvement with pay-to-play at the state pension fund.
A new report by EarthRights International (ERI) has shown how the Norwegian Government Pension Fund Global has $4.7 billion invested in 15 oil and gas companies from eight countries operating in Myanmar, putting Norway in violation of its own Ethical Guidelines for responsible investment.
While lawsuits over allegedly imprudent cash-collateral reinvestment programs continue to work their way through the courts, a Senate subcommittee has reportedly started an investigation into securities lending providers.