Verizon Retirees Given Green Light for Risk Transfer Class Action
Both the 41,000 members whose pensions were annuitized by Prudential and those whose weren't will be allowed to sue Verizon as a class, a judge has ruled.
Regulation
Public Fund CIO Pleads Guilty in Insider Trading Scheme
John Johnson has pleaded guilty to three counts of securities fraud predating his tenure at Wyoming’s pension fund. Each carry a maximum sentence of 20 years in prison.
Unions Get Radical over AGM Voting
Instead of shouting about it, unions in the UK are voting on what they don’t like in big business.
CalPERS, Bondholders Square off Over Stockton Assets
CalPERS, the city's largest creditor, squares off with bondholders as a judge determines Stockton's eligibility for Chapter 9 protection.
UK Regulator to Probe Transition Management, Custody, Fund Fees
Fees, practices, and financial institutions’ general behaviour towards clients is to come under the microscope in the UK.
Former Detroit Pension Trustees, Attorney Charge with Fraud in Bribery Scandal
The indictment claims that Detroit's former Treasurer and a pension trustee accepted kickbacks including massages, golf clubs, and tickets to a Playboy party.
Return Boost for Investors as UK Reduces Tax
Will less tax on investments help pull more funds – and investor assets – towards the UK?
Former CalPERS CEO Indicted on Multiple Charges
Court indicts former CEO and board member on counts of fraud and deception against the nation and its agencies.
Former JP Morgan CIO Refuses to Take Responsibility for Whale Losses
Ina Drew described her oversight as “diligent,” and instead blamed the $6.2 billion in losses on certain “deceptive” London traders and flaws in her unit’s risk management operations.
CalPERS “Bribery Lawyer” Sued for Defamation
A private equity company slammed in CalPERS bribery report takes those responsible to court.
Illinois Settles with SEC Over Pension-Related Fraud Charges
The state allegedly misled municipal bond investors by failing to disclose the impact of pension contribution holidays, among other changes to its funding schedule.
Corporate DB Sponsors: EBSA Has a New Rule For You
New disclosure rules have come in effect for US corporate DB plans that'll cost pensions $1 million...and that's just the postage.
UK Pensions Lose Battle over VAT
Pensions on the hook for £100 million a year in tax as battle with Europe fails.
Florida Lawmakers to DB Plan: I'm Just Not That Into You
A bill to close Florida's massive defined benefit pension plan to new members will soon go before state lawmakers--some of whom have put 'Pension Reform' high on their 2013 to-do lists.
Are Say-on-Pay Votes Worth It?
Shareholders are demanding a tighter control over executive pay packets, but do their efforts actually work?