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.
Regulation
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?
SEC Charges New Stream Hedge Fund Managers with Fraud
The co-owners of New Stream Capital allegedly restructured the fund to prevent its collapse without informing all of its investors.
Bill to Ban NJ’s Pension Gun Investments Passes State Assembly
If approved by the state Senate, New Jersey’s public pension fund will be forbidden from investing in assault weapon-related companies.
IRS Allows Distressed DB Plans to Modify Payouts
Companies under bankruptcy protection may now rescind the lump-sum payment option for members.
European Pensions Body Dismisses Regulator’s Approach
Pension body sends regulators back to the drawing board on pan-European regulation.
Court Orders Greater Transparency From U of California on Investments
The University of California can no longer keep secret the performance of its high-profile venture capital investments, a judge has ruled.
Deutsche Bank Unit Settles Lawsuit with APB over Alleged Fraud
The Netherlands' largest pension fund has settled its lawsuit against a Deutsche Bank unit over mortgage-backed securities for an undisclosed sum.
Where are Fiduciary Standards in Financial Markets?
Who is willing to put investors’ interests before their own? Not enough people in finance, in one leading academic’s view.
US Government Joins Pensions to Pursue Ratings Agency
Political heavyweights join the hunt for redress against rating agencies’ actions.
Irish Pension Harboring Concerns Over ‘Quality of Governance’ at State Street
State Street's future as a passive manager for Ireland’s National Pensions Reserve Fund is still up in the air, the fund's former investment chief John Corrigan told a parliamentary committee.
Investors Shying Away From Securities Fraud Class Actions
The number of new federal securities fraud lawsuits seeking class-action status has fallen to a 6-year low in 2012, a study by Stanford Law School and Cornerstone Research has shown.