The California Public Employees’ Retirement System (CalPERS) is suing ex-Lehman executives and underwriters, saying they hid Lehman’s exposure to subprime loans when they sold the California public pension fund about $700 million in bonds.
Investigators are in the process of probing banks on overcharging state pension funds for currency trades, the Wall Street Journal has reported.
The US computer-based investment branch of the French AXA group will pay $242 million in compensation and fines for allegedly concealing a major program glitch.
Motivated by the need for greater transparency in the municipal bond market, the Municipal Securities Rulemaking Board is looking into ways to broaden issuer disclosure of the standing of their pension plans.
The attorney general alleges that despite its actions, Countrywide Financial Corporation continued to misinform investors that it maintained stringent mortgage loan underwriting standards that differentiated it from its competitors and other subprime lenders.
The Securities and Exchange Commission has adopted rules concerning shareholder approval of executive compensation and "golden parachute" arrangements.
Illinois now joins other states targeted by the SEC as the regulator demands greater financial disclosure and transparency from pension funds around the country.
In the face of escalating fiscal problems around the country, governors are upping their rhetoric on pension reform in an effort to tackle heightened costs.
Seeking to protect investors through oversight and regulation, the regulatory agency has named Eileen Rominger the Director of Investment Management.
In a Wall Street Journal op-ed, the President said he is announcing the launch of review of US regulations, removing outdated practices that hinder job creation.
Did private equity shops and banks break the Foreign Corrupt Practices Act by bribing sovereign wealth fund officials?
The largest US phone company has announced via an SEC filing that it has changed its method of recognizing actuarial gains and losses for pension and other post retirement benefits.
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.
As part of the Stichting Investor Claims against Fortis Foundation, institutional investors have launched a claim accusing Fortis of making misrepresentations to the market and to its shareholders.