Deutsche Bank Censured for Shoddy Reporting
The German
bank’s US arm has been criticized for poor governance, inadequate regulatory
reporting technologies, and bad data by regulators.
Regulation
Credit Suisse Quits Commodities Trading in Litigation Aftermath
The Swiss
bank also reported its largest quarterly loss since the financial crisis following
a $2.6 billion settlement with US authorities for tax evasion.
Senate Committee Condemns Hedge Fund Tax Practices
Practices by two hedge funds have been criticised by the Permanent Subcommittee on Investigations for their use of “basket option structures” to crank up leverage and reduce tax bills.
The Dodd-Frank Act Has Failed, Republicans Say
Instead of
ending “too big to fail,” the 2010 Dodd-Frank Act has further entrenched the
concept into government policy, a GOP report has said.
Obama Signs Order to Draw Investors to US Infrastructure
Interested? The Treasury Department will host a summit for institutional allocators and government officials on September 9.
SEC Investigates 44 Investment Firms on Insider Trading
US
regulators have claimed dozens of prominent hedge funds and asset managers were
part of an insider-trading scheme involving health care companies.
Financial Stability Board Bids to Wipe Out FX Rate Rigging
In the wake of accusations of foreign exchange rate manipulation, the regulatory group has offered up proposals to shore up rate-setting methods.
Fraud Charges Drain Barclays Dark Pool
Trading volume plummeted 37% at Barclays following allegations of “systematic fraud and deceit,” yet order flows largely shifted to other major banks’ dark pools.
Cash, Casino Chips, and CalPERS: Confessions of a Former CEO
The former CEO of the largest US pension has decided to plead guilty on fraud and bribery charges—and reveal everything.
PBGC Chief to Re-join Private Sector
After four years leading the US’ lifeboat for bankrupt company defined benefit plans, the PBGC director is heading off.
Credit Suisse Fears Sentencing Will Harm Asset Management Business
The bank has asked a US court to push its
sentencing date to “at least” November in order to safeguard its ability to run pension money.
State Street Settles Shareholder Lawsuit for $60M
The Boston-based bank was sued by shareholders who claimed they bought stocks at “artificially inflated” prices.
Gold Stars for CalPERS, CalSTRS from Moody’s
Steps to boost contribution rates to both plans have impressed the ratings agency, which upgraded their credit scores.
New Jersey Pension Hires Lawyer to Fight Christie’s Cuts
A Florida law firm has been appointed by New Jersey’s Public Employees’ Retirement System to handle a lawsuit over Governor Chris Christie’s planned contribution cuts.
Former CalPERS’ CEO to Plead Guilty to ‘Pay-to-Play’ Conspiracy
Federico
Buenrostro was charged with conspiracy in connection with creating fraudulent
papers securing placement agent fees in years following the financial crisis.