Pensions to Collect on BoA's $2.43 Billion Settlement
Eleven public pension funds, including CalPERS and Texas Teachers', were active participants in the lawsuit Bank of America has settled for $2.43 billion.
Regulation
Goldman Fined $12 Million for ‘Secret’ Payments to Former Mass. Treasurer
A Goldman VP allegedly helped manage and fund the treasurer's run for governor, as the investment bank raked in more than $7.5 million in fees from the Treasury for securities services.
Irish National Pension Swindled by State Street, Audit Confirms
The Irish national pension fund has been revealed as the latest victim in State Street's transition management overcharging scandal.
Judge Strikes Down Baltimore’s ‘Unconstitutional’ Pension Reform
The Baltimore Fire and Police Retirement System may be once again on the hook for tens of millions in annual payouts that had been cut in a 2010 reform package.
Investors Push for Tougher Auditor Regulation
European regulators should not be drawn by efforts to ‘water down’ audit regulation, say some of the world’s largest shareholders.
DoL Accuses Insurance Brokerage of Fleecing Pension
The lawsuit claims a Pennsylvania brokerage arranged a kickback scheme with an insurance company, resulting in a hospital pension being overcharged for an annuity purchase.
Highway Bill: Two Sides of the Story for Pensions
The highway bill, signed by President Obama in July, should have substantially lowered aggregate pension funding obligations, yet the picture isn't entirely rosy.
Florida's Pension Chief to State: ‘Up Contributions, Lower Expectations’
Ash Williams is calling on lawmakers to increase the flow of funding, and lower the pension system's assumed rate of return from 7.75% to 7.25%.
UK Treasury Committee to Investigate Who Loses with QE
Members of Parliament in the United Kingdom want to know: Does quantitative easing really have a “broadly neutral” effect on the population, as the Bank of England claims?
BlackRock Fined £9.5m for Substandard Care of Client Money
BlackRock’s systems were “simply not adequate” to protect clients' funds, according to the FSA, which has handed a fine to the asset manager.
Appeal of Florida Pension Reform Hits Supreme Court
Arguments began on Friday over the Florida Legislature's voided 2011 pension reforms.
CalSTRS: State Controller's Accusations Addressing Pension Spiking Are Out-of-Date
CalSTRS CEO Jack Ehnes is defending the public pension against the State Controller's review addressing controls and processes over pension spiking, in which workers inflate their pension checks.
California Passes Pension Reform Bill
The new legislation should save taxpayers roughly $42 billion to $55 billion for CalPERS plans alone over the next 30 years.
How Will the JOBS Act Impact Hedge Funds?
Hedge funds, watch out -- the JOBS Act will drive the next major shift for the hedge fund industry, Margolis Advisory Group and River Communications claim.
Bain, Apollo, KKR Under Investigation for Tax Dodging
New York's attorney general has subpoenaed major private equity firms, suspecting they convert management fees into investments to duck income taxes, according to the New York Times.