S&P Settles SEC Ratings Charges for $77M
The rating agency also faces a one-year ban from rating certain commercial mortgage-backed securities.
Regulation
Key Player in CalPERS Bribery Scandal Dies before Trial
Due to stand trial next month on federal corruption and bribery charges, former placement agent Alfred Villalobos died on Tuesday.
JP Morgan Offers Pensions $500M to End Bear Stearns Lawsuit
A group of investors claims the bank misrepresented the quality of $18 billion of mortgage-backed securities.
Fresh Challenge to CalPERS’ San Bernardino Agreement
Two investors are suing the bankrupt city in order to reclaim debts alongside payments to CalPERS.
Ex-OCIO Client Dials Back Lawsuit Against JP Morgan
Suing over losses, a church foundation is still pursuing its former OCIO for alleged fraud, breach of trust, and securities law violations.
Towers Watson Faces Lawsuit over ‘Negligent Advice’
The UK’s Coal Pension fund is taking legal action to recover millions it claims to have lost through a currency hedge.
NY Governor Vetoes Bill to Raise Caps on Alts
The vetoed bill would allow NYC pension to up allocations to alternatives and international bonds to 30%.
CalPERS Hits Back At Calls for Fossil Fuel Divestment
A bill to be scrutinised by the Californian senate in January could lead to forced divestments for the state’s biggest investors.
CalPERS’ Bankruptcy Deals ‘Haven’t Solved Funding Problems’
Arrangements with San Bernardino, Stockton, and Vallejo will lead to more financial strain, ratings agency Moody’s argues.
State Street Under Investigation for Public Pension Pitch Tactics
The Boston-based firm has received subpoenas from the Department of Justice and the Securities and Exchange Commission, according to its quarterly filing.
Canada Pension Giant, Future Fund Implicated in Tax Dodging Leak
The institutions’ use of Luxembourg-domiciled shell vehicles has made them the target of tax-avoidance allegations.
CalPERS Hails Stockton Bankruptcy Ruling
The $300 billion pension is celebrating a reversal of a decision to impose huge cuts on public workers’ pensions.
Is Your Consultant Breaking the Law?
Consultants could be breaking US law by recommending their own investment management services, a government official has said.
Detroit Inches Closer to Solvency as Pension Creditors Drop Objections
A judge will decide next week whether Detroit’s plan to slice $7 billion of debt is feasible.
BT Pension’s Levy Exemption ‘Illegal’, Says Top European Court
The UK government’s financial backing of BT’s pension fund has been called into question following a European court ruling.