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.
Regulation
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CalSTRS: State Controller's Accusations Addressing Pension Spiking Are Out-of-Date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.
SEC Aims for Stronger Compliance With Pay-to-Play Ban
The Securities and Exchange Commission is seeking to strengthen compliance with a Municipal Securities Rulemaking Board rule that limits political contributions by municipal securities professionals.
JP Morgan Sued Over FX Rates
Louisiana’s police pension fund, a custodial client of JP Morgan, is suing the bank for allegedly manipulating clients' foreign-exchange transactions to pad its own profits.
SEC Charges Former Miami Brokers for $36 Million Fraud
The Securities and Exchange Commission has charged two former brokers in Miami with fraud for overcharging customers by about $36 million.
Citigroup to Settle Subprime Lawsuit Led by Pensions
Final Score: Citigroup 0, Pensions and Investors $25 million.
Fresno and Arkansas Pensions Suing Vodka Producer
The two public pensions systems will lead a class action suit against a Polish alcohol company for allegedly lying about the state of its business.
San Francisco Pension ‘Under No Obligation’ to Follow Jury Directives
A civil grand jury’s scathing report on the San Francisco’s employee pension system has no legal sway over its investment strategies, according to the former president of the California Grand Jurors’ Association.