News Corporation shareholders have sued the Rupert Murdoch-owned company, alleging that the board failed to exercise proper oversight and take sufficient action since news of phone hacking first emerged at its subsidiary nearly six years ago.
The Governmental Accounting Standards Board (GASB) has published proposals to improve the way US state and local governments report pension liabilities.
State and federal regulators have ordered JPMorgan to pay $228 million in a settlement of allegations that the bank's securities division rigged the market for municipal bond derivatives.
Lehman Brothers Holdings has reached an agreement among several creditor groups, including Paulson & Co, a large Lehman bondholder, and Goldman Sachs, a derivatives counterparty to Lehman.
Australian superannuation funds need to begin preparing themselves for impending regulatory reform to avoid being caught flat-footed, consultants have warned.
The New Jersey Assembly has overwhelmingly passed a bill that Governor Chris Christie has trumpeted as necessary to shore of state finances – but which teachers have lambasted as unnecessarily harsh.
Proposals being created by the Governmental Accounting Standards Board will force most US states and towns to increase the level of unfunded liabilities they report on their balance sheets.
The new requirements adopted by the Securities and Exchange Commission “will fill a key gap in the regulatory landscape,” the US regulator's Chairman Mary Schapiro said.
JP Morgan has agreed to pay $153.6 million to settle US regulatory claims that it misled pension funds and other investors while selling a product linked to risky mortgages as the housing market crumbled.
Following concerns that financial firms may have violated bribery laws in dealings with Libya's sovereign wealth fund, the Securities and Exchange Commission has requested information from ExxonMobil, ConocoPhillips and Occidental Petroleum Corp. about their Libyan connections.
On behalf of at least 1,800 investors, a federal judge has ruled that Bank of America's Merrill Lynch unit faces a group lawsuit over its mortgage-backed securities.
