Swiss Life Admits to Conspiring to Cheat IRS
The insurance giant will pay more than $77 million for helping taxpayers hide nearly $1.5 billion from IRS.
Risk
SEC Settles Charges with Firm Over Failing to Report Hacking Attempts
GWFS Equities allegedly neglected to report three years of suspicious activities by ‘bad actors.’
UK’s Largest Private Pension Fund Commits to Net-Zero by 2050
The $93.9 billion USS said it hopes to reach its goal even sooner than the Paris Agreement target.
Ohio Retired Teachers Association Sues Ohio STRS for Transparency
The group says the $80 billion pension fund refuses to turn over public documents it needs to conduct an audit.
Utah Endowment Considers Realignment Toward Sustainability
University’s Academic Senate approves recommendations to shift portfolio to ‘positive sustainability investments.’
FBI Arrests Alleged Operator of Longest-Running Bitcoin Laundering Service
Authorities say Roman Sterlingov ran Bitcoin Fog on the darknet, which laundered an estimated $336 million.
Court Dismisses ERISA Lawsuit Against Edison International ESOP
Appellate court rules the plaintiff failed to meet the standard set in a 2014 Fifth Third lawsuit.
Union Demands CPPIB Ditch Brazil Water Privatization Involvement
The acquisition and privatization of a Brazil public water firm are socially harmful and economically risky moves, says CUPE.
Kimberly-Clark Faces ERISA Lawsuit over 401(k) Plan
Lawsuit alleges fiduciary failure cost participants nearly $6.3 million in retirement plan services fees.
SEC Charges Hedge Fund Manager with $38 Million Fraud
Andrew Franzone allegedly used misappropriated funds to buy an airplane hangar for his race car collection.
Multiple Employer Pension Plans May Need to Brace Themselves for Lawsuits
Consulting firm October Three says lawyers will likely set their sights on MEPs.
Michigan Pension Fund Sues Credit Suisse Over Risk Exposure
The Swiss bank is accused of misleading investors after it lost billions when Greensill and Archegos collapsed.
Investors Should Decarbonize Portfolios by 10% Annually, MSCI Says
The firm laid out plans for asset owners, managers, and other participants in a call to action this week.
Bill Miller Isn’t Buying the Negative Take on SPACs
Recent downdraft has made some good blank check companies into enticing bargains, the value guru argues.
CalPERS Sues Former Employee for Allegedly Stealing Pension Money
More than $685,000 was stolen from 10 retirees, including a homeless person and beneficiaries under legal conservatorships, the fund said in its lawsuit.