CalPERS, Blackstone on Opposite Sides of Placement Agent Battle
Some firms say that lucrative commissions paid only for favorable results is a “system that invites corruption,” yet others say placement agents play a useful role.
Regulation
China’s SWF Slashes Funding Request to $100 Billion
The China Investment Corp (CIC) has cut the amount of new funding its
requesting from the government in half.
Judge Dismisses Claims in Mortgage Bond Suit
Standard & Poor's, Moody's win dismissal of a suit that involved
the sale of more than $60 billion in mortgage-backed securities.
FINRA Steps in to Regulate Pay-to-Play Rules
The Financial Industry Regulatory Authority (FINRA) is ready to act
on rules to be in place this year.
MassPRIM's Travaglini Denies Pay-to-Play in State Pension Fund
Timothy
P. Cahill's tarnished reputation may be a result of misunderstanding
and attempts of political influence.
CalPERS Under Scrutiny in Pension Investigation
The Department of Justice is
scanning investment transactions of public pensions.
On Both Side of the Atlantic, Battle Lines Harden Over Financial Regulation
While the scope of financial regulation varies from Europe to America, electoral politics seem likely to shape eventual market changes after the Great Recession.
Mass. Treasurer Suspected of Pay-to-Play Donations
Timothy P. Cahill is criticized for accepting more than $100,000 in connection to an investment manager who has been allotted hundreds of millions of dollars in state funds to invest since Cahill became treasurer in 2003.
Former Hevesi Adviser Denies Wrongdoing; Faces Up to 25 Years in Prison
The former chief political adviser to ex-New York state Comptroller
Alan Hevesi said the indictment against him should be dismissed.
Pension Suit Over Canadian Bank’s Subprime Holdings Dismissed
The judge
ruled that like many other financial institutions, the bank failed to
forecast the meltdown that led to record losses.
EU Forges Ahead With New Hedge Fund Rules, Despite Objections From Britain, US, Canada
Treasury
Secretary Geithner claims the EU law, formed to regulate
alternative investment vehicles, would negatively impact US fund
managers and banks.
Another Pension Fund Sues Goldman for 'Unreasonable' Compensation
A pension fund for an electrical workers' union filed a
lawsuit against the bank in a Delaware court.
FDIC Asks Pension Funds to Step In
As the FDIC seeks cash, pension funds may be asked to help foot the
bill to rescue the banking system.
Worries Abound Over Changes to UK Accounting Standards
Proposed changes to international accounting standards may increase
reported pension costs and remove incentives to hold “risky” assets.
SEC Ends Two-Year Inquiry Into Florida Pension Agency
The federal probe clears Florida’s money managers of wrongdoing,
without enforcement action recommended.