Pension Derivative Exemptions Under Threat, Dutch Fund Says
Planned pension exemptions relating to derivative clearinghouse regulation may be a casualty of European politics, a member of pension giant APG says.
Regulation
Emboldened Christie Sees Pension Reforms Passed
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.
New Jersey Union Files Lawsuit Over Pension Payments, Claims Workers' Constitutional Rights Were Violated
A New Jersey labor union has sued the state, asserting that Governor Chris Christie failed to make sufficient payments to the state's pension funds.
States May Be Forced to Achieve Higher Level of Reporting of Their Unfunded Liabilities
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.
SEC Mandates Tighter Hedge Fund Rules
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 Settles SEC Charges of Misleading Investors Over Housing Market
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.
SEC Investigates ExxonMobil, Conoco, and Occidental Over Libyan Connections
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.
In Merrill Mortgage-Backed Securities Lawsuit, Judge Certifies Class-Action Status
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.
SEC Investigates Credit-Rating Firms for Contributing to Financial Collapse
The US regulator could file civil charges against some rating agencies for their role in rating mortgage-bond deals that fueled the financial crisis.
CalPERS Fights Back Against Accusations Over Destruction of Evidence
Following accusations of destruction of evidence over emails, CalPERS is upping its defense.
Joining FX Scrutiny, Ohio Treasurer Seeks to Investigate State Street, BNY Mellon Charges
Ohio's treasurer has asked the state's attorney general to look into the foreign currency exchange practices of the two largest US custodians -- State Street and BNY Mellon -- which oversee pension fund holdings.
ISLA Chief Says EU Regulation Fears Causing Hedge Fund Short-Selling Clampdown
The CEO of the International Securities Lending Association Kevin McNulty warned that hedge funds are abandoning short-selling because of uncertainty over looming European Union regulations.
Supreme Court: Janus Not Liable for Securities Fraud
The Supreme Court ruled June 13 that Janus Capital Group could not be sued for securities fraud over misstatements in its mutual funds’ prospectuses.
Column: Pension Quandary in Valuing Liabilities
From aiCIO Magazine's Summer Issue: Legislation has been proposed in Congress that would force states to publish their liabilities using corporate rates. This all leads to the question: What really is the right rate?
Cuomo Proposes Plan to Slash N.Y. Public Pensions, Labor Furious
Governor Andrew Cuomo has proposed a plan to reform the New York public pension system that has public employees unions clamoring.