Union Pensions Sue Bulge-Bracket Banks Over MF Global
Goldman Sachs, Citigroup are among those named in a lawsuit alleging misstatements regarding the European debt exposure of failed investment house MF Global.
Regulation
Should Public Plans Implement LDI?
From aiCIO Magazine's 2011 Liability-Driven Investing Issue: Wishful thinking for public pension plans – and LDI providers.
Increasing Complexity
From aiCIO Magazine's 2011 Liability-Driven Investing Issue: If the world ran out of long bonds, what would plan sponsors do?
Judge Criticizes SEC in Citigroup Mortgage Settlement Over CDOs
Federal Judge Jed Rakoff is in the midst of questioning the Securities and Exchange Commission and Citigroup over a proposed $285 million settlement with the bank over the sale of toxic mortgage debt.
Louisiana Pension Sues JP Morgan Over Alleged Breach of Fiduciary Duty
The Louisiana Municipal Police Employees Retirement System, which invests in JP Morgan, has sued the bank claiming breach of fiduciary duty by its directors.
Citi Wins Over Abu Dhabi in Arbitration Case on $7.5B Investment
Citigroup has won its arbitration case over Abu Dhabi’s $7.5 billion investment in the bank.
Fed Forges Ahead With Operation Twist
The Federal Reserve has decided to continue its plan of purchasing longer-term securities while holding interest rates low through 2013 -- a move that may contribute to potentially detracting appeal of liability-driven investing strategies for plan sponsors.
NYC Judge Rejects Madoff Trustee's $19 Billion Claim From JPMorgan
A New York City judge has tossed out a $19 billion claim that a trustee seeking money for Bernard Madoff's investors demanded from JPMorgan Chase, which had been the Ponzi schemer's bank.
CFTC Approves SEC Systematic Risk Reporting Rules
The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have finalized new rules for systematic risk disclosure.
California Mega-Funds Voice Support For Pension Overhaul Discussion
The California Public Employees’ Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS) have issued statements on the governor's pension reform proposal.
NYC Mayor, Comptroller Seek Structural Overhaul of City's Five Pensions
Mayor Michael Bloomberg and New York City Comptroller John Liu have announced a sweeping overhaul of the city’s five main public employee pension systems.
California Governor Announces Pension Overhaul
California Governor Jerry Brown has proposed sweeping rollbacks to public employee pension benefits in California.
Former Goldman Sachs Director Surrenders to FBI on Insider-Trading Charges
Rajat Gupta, a former board member of Goldman Sachs and Proctor & Gamble, has been indicted by US prosecutors and accused of cheating the markets with Raj Rajaratnam, the convicted hedge fund founder who was at the center of the probe.
MassPRIM May Dismiss FX Partner BNY Mellon
The Massachusetts Pension Reserves Investment Management (MassPRIM) has said it may drop BNY Mellon, its partner on foreign-exchange trading.
Court Dismisses Pension Lawsuit Against Highland Capital
Highland Capital Management, a Dallas-based investment adviser with approximately $24 billion in assets under management, has announced that a lawsuit from the Houston Municipal Employees Pension System has been dismissed.