Since the arrest of International Monetary Fund (IMF) head Dominique Strauss-Kahn, PIMCO's Mohamed El-Erian has asserted that the likelihood of Greece defaulting becomes greater.
While consultants say UK pension schemes should be legally obliged to perform due diligence before appointing a fiduciary manager, due diligence is 'nothing new in the US,' Towers Watson says.
As the federal government reached its $14.3 trillion legal limit on its debt, Treasury Secretary Tim Geithner tells Congress he will start targeting federal pension funds.
As institutional investors continue to crowd into the rapidly-growing economies of emerging markets to improve equity returns, China may be poised to emerge as a "separate asset class," asset manager RCM has said.
Federal Reserve Chairman Ben Bernanke has said the Fed will unveil new regulations that would guard the US economy from another meltdown of the nation's largest financial companies.
The Securities and Exchange Commission has joined state and federal investigators looking into whether State Street Corp. overcharged investment clients millions of dollars for foreign exchange transactions.
While the International Monetary Fund has said Greece is well-positioned to avoid the restructuring of its debt, it warns that Europe's debt crisis could still spread to core euro zone countries and the emerging economies of eastern Europe.