Four former San Diego officials have agreed to pay financial penalties to settle SEC charges accusing them of misleading municipal bond investors about the city’s fiscal problems.
New York-based Ivy Asset Management, Beacon Associates Management, J.P. Jeanneret Associates, Andover Associates Management and their principals have been sued by the Department of Labor for allegedly failing to examine swindler Bernard Madoff’s business practices and consequently losing millions in pension money.
In an effort to protect participants from conflicts of interest and self-dealing, the Department of Labor (DoL) has proposed expanding its definition of the term "fiduciary" under federal retirement law.
Bill White, the Democrat challenging Gov. Rick Perry, has accused the governor and his appointees of pressuring the staff of the Teacher Retirement System (TRS) to pick investment companies benefiting Perry contributors, yet an external investigative party has stated there are no improprieties with respect to how the investment decisions at TRS were made.
Pacific Alternative Asset Management Company (PAAMCo) is in the spotlight over whether it was "designed to mislead" by appearing as a women-owned business.
The law firm has agreed to a five-year ban from appearing before all New York public pension funds and will comply with the attorney general’s reform code of conduct.
The regulator is charging two former top State Street Corp. executives of misleading investors in a bond fund at the center of a $313 million settlement between parent State Street and the SEC earlier this year.
The country's biggest business lobby and another business group are challenging the Securities and Exchange Commission's new rules that make it easier for shareholders to nominate directors of public companies and to oust sitting directors.
The lawsuit is the latest in a string of legal actions against Citigroup and other large US institutions from investors who lost money in the economic downturn.
As part of the Dodd-Frank bill, about 1,000 unregistered placement agents for institutional money managers will have to register with the Securities and Exchange Commission by October 1.
In a speech that comes just before the SEC's report on the "flash crash," the regulator's chairman provided an early indication of how her agency wants to construct a more scrutinized derivatives market.
Morgan Stanley lawyers have argued that shareholders had not shown legal standing to seek damages at trial and are seeking to dismiss their lawsuit, partly on grounds that the allegations were too vague.
Bill White, the former president of the Intrepid Sea, Air and Space Museum, has agreed to pay $1 million to end the investigation of his role in funneling investments to the New York's Common Retirement fund.
Following Goldman Sachs' $550 million settlement with the US Securities and Exchange Commission, the bank faces yet another fine, this time by the UK's Financial Services Authority.
China has approved insurers to hold stakes and invest in private equity and property of privately-held companies to ease insurers' investment pressure and diversify risks, according to the the China Insurance Regulatory Commission.