Tough Times for Hedge Funds and Private Equity, EU Still Divided
Hedge funds and private equity firms face profit crunch, EU states still split on regulations in Europe, aimed at enforcing restrictions on the industry.
Regulation
New Hedge Fund Rules to Prevent Secrecy
Hedge funds will need to disclose detailed information about their trading positions to international regulators.
Spurred by Placement Agent Controversy, CalPERS CIO Voices New Effort; New York’s CIO Eases Placement Agent Ban
CalPERS' Joseph Dear says emerging money managers don’t need placement agents to get hired by the fund giant; New York’s CIO Schloss takes the lead on placement agent relationships.
SEC Restricts Short Sales
Hoping to restore investor confidence, the regulator passes an “alternative uptick rule” after more than a year of debate.
Insider: Flash Ban Likely, but Volcker “Unworkable”
The US Congress and the Securities and Exchange Commission (SEC)
could be close to passing legislation and rules that will, among other
developments, eliminate flash trading and institute ‘circuit breakers’
for short-sellers, according to financial policy specialist Joseph
Engelhard.
AIG Class Action Approved for Ohio Plans; $150 Million SEC-BofA Settlement OK'ed
Ohio pension funds won class action certification over allegations of accounting fraud, among others; judge ends civil charges accusing BofA of misleading shareholders when it acquired Merrill Lynch.
Pension Fund Regulator Files £2.1 Billion ($3.3B) Nortel Lawsuit
The regulator seeks
to help finance a shortfall in the Nortel UK pension
plans.
Mexico Loosens Rules for Pension Funds
New regulatory changes would permit Mexican pension funds to
directly invest in individual stocks.
CalPERS Names 11 Firms Not Responding on Placement Agents
The $200 billion pension fund has stepped up its
oversight on placement agents or pension-fund middlemen.
SEC Considers Exemptions for Pay-to-Play Rule
The US regulator's decision depends on whether the
Financial Industry Regulatory Authority (FINRA) implements strict
pay-to-play rules prohibiting activities by registered broker-dealers
acting as placement agents.
Two Pension Funds Sue Morgan Stanley Over Compensation; Juniper Hit With $169 Million Backdating Settlement
The Security Police and Fire Professionals of America Retirement Fund
& Central Laborers’ Pension Fund label Morgan Stanley's payouts as
“unjust enrichment” for failing to administer its compensation plans in
the best interests of the company and its shareholders; Juniper Networks
to pay millions in backdating suit.
CalPERS and CalSTRS Fail to “Honor the State Law,” Attorney General Says
California Attorney General Edmund G. Brown Jr. says funds must
divest from companies doing business in Iran.
Sun Life's CIO Says US Ratings Threat Is Not Immediate
Despite a predicted deficit of $1.6 trillion this year,
Steve Peacher says policy makers in the US have sufficient time to
deal with the triple-A rate cut issue.
Following Pension Lawsuits, Cuomo Charges BofA and Former Executives With Fraud
Andrew Cuomo, New York
attorney general, claims Bank of America, former Chief Executive Kenneth
Lewis and former Chief Financial Officer Joe Price lied to shareholders
about the acquisition of Merrill Lynch & Co.
Northern Trust Faces Securities Lending Lawsuit
The Chicago
Public School Teachers’ Pension & Retirement Fund (CTPF) and the
City of Atlanta Firefighters' Pension Plan filed the lawsuit over
securities lending losses.