Madoff Trustee Seeks More Money for Victims
Bernie Madoff's family has been hit with a lawsuit totaling $255.3 million for failing to catch the patriarch's Ponzi scheme.
Regulation
Virginia Court Dismisses BNY Mellon FX Lawsuit
BNY Mellon has won the dismissal of a Virginia-based foreign-exchange fraud case filed through the state circuit court in Fairfax.
CalPERS Responds to Primack Critique, With Vitriol
A recent article by Fortune Magazine attacks CalPERS over questions surrounding placement agent activity, but the California scheme has fired back in defense.
SEC Charges Former CalPERS CEO, Board Member With Fraud
The former CEO of the California Public Employees’ Retirement System has been sued by the Securities and Exchange Commission over claims he defrauded an investment firm into paying $20 million in fees to a friend’s placement agencies.
FSA Urges Lowered Investment Return Assumptions for Pension, Insurance Firms
The projection rate for investment returns should be reduced, according to a report commissioned by the Financial Services Authority (FSA).
Iowa Pension Condemns Deloitte for Allegedly Ignoring Ponzi
The Iowa Public Employees Retirement System is claiming that auditors overlooked a $553 million Ponzi scheme by issuing falsely clean audit reports.
Europe Takes Pension Concerns to Government
The fight against Solvency II is taken to politicians in an attempt to gain more ground.
Switzerland Urged to Reform Pensions
Fiscally-sound Switzerland urged to follow poorer neighbours into pension reform.
Kay Slams ‘Trader-Focused’ Markets
Equity markets are overly focused around the activity of trading, to the detriment of investors, according to professor John Kay.
JP Morgan to Pay $150 Million in Securities Lending Pension Lawsuit
The custodian will pay big to settle claims over securities
lending losses stemming from the 2008 financial collapse.
Ohio Treasurer Slashes Pension Ties With BNY Mellon, State Street, Pledging to 'Root Out Fraud'
BNY Mellon and State Street are being replaced by JPMorgan & Chase and Citigroup as custodians for four Ohio pension funds.
CalPERS: Republican Pension Proposals to Sting Members
CalPERS has released a cost analysis of proposed Republican pension reform, noting that the proposal will lower retirement benefits for new hires and shift risk from employers to employees.
New York Legislature OKs Governor Cuomo's Pension Reform; DiNapoli Expresses Skepticism
The New York Legislature has approved much of Governor Andrew Cuomo's pension overhaul, while New York Comptroller Thomas DiNapoli has voiced concern.
Cuomo's Pension Proposal Rejected by Assembly Democrats, Gov Threatens Shutdown
New York Governor Andrew Cuomo has had his pension proposal rejected by the state's Assembly Democrats.
Australia Treasury Says No to Sovereign Wealth Fund
Australian Treasury Secretary Martin Parkinson has voiced disapproval of a sovereign wealth fund for the country following strong support for such a fund from resource-rich Western Australia.