FCA Bans, Fines Directors over £1 Million for Bad Pension Advice
Regulator said ‘reckless behavior’ led over 2,000 customers to invest $98.5 million in risky assets.
Tag: Pension
CIO Innovation Awards: Nominations Open
Nominate your best asset owners and managers for this years 10th annual bash.
CalSTRS Stresses the ‘Importance of Acting Quickly’ to Maintain Funding Progress
Update on the pension’s 2014 funding plan illustrates the risks, rewards, and strategies to be aware of.
Regulation
TPR Fines McDonald’s Franchisee Trustee for Breach of Pension Law
Fine of £104,000 largest ever handed out to trustee by UK regulator.
Surviving Board Politics and Conflicts of Interest
When board members choose friends as money managers, CIOs can find themselves in a bind.
Regulation
Arizona Public Safety Execs to Recoup Lost $170,000 in Bonuses
Money, to be awarded for 2013 performance, had been delayed due to controversy.
Asset Allocation
CPPIB, Piramal to Launch $600 Million Renewable Energy Trust
Canadian pension will contribute lion’s share and own up to 60% of venture.
US Corporate Pension Funding Level Rises to 91.4% in April
Improvement boosted by strong investment returns during the month.
Corporate Moves
After a Two-Year Search, CalPERS Finally Hires Private Equity Head
Greg Ruiz, who has family ties to the fund, will take over from interim Sarah Corr.
Asset Allocation
CDPQ and Lightsource BP Beam Capital into Solar Power Projects
The $173 million in debt financing is part of the Canada fund’s greener, low-carbon investment mission.
Regulation
US to Return $196 Million Stolen from Malaysian State Fund
Recovery just a small portion of the $4.5 billion siphoned from 1MDB investment fund.
Corporate Moves
Deputy CIO and Former NextGen Departs Texas Pension Fund
The alts-focused Sharmila Kassam moves to Funston Advisory Services.
Regulation
Treasury Approves Benefits Reduction for Pennsylvania Pension
Pension said it will become insolvent in 10 years without benefits cut.
Newsmakers
This Week’s CIO Summit: Asset Owners to Debate ESG, Team Building, Capital Preservation
Second day will wrap up the conference with a closed-door, CIO-only session.
Canadian Plan Sponsors Rebound Strongly to Return 7% in Q1
US, Canadian equities were top-performing asset classes.