How the Supreme Court’s Chevron Reversal Impacts Institutional Investing
Courts are no longer required to defer to interpretations of law offered by executive agencies that regulate defined benefit and contribution savings.
Regulation
Industry Feedback on the IB 95-1 Report
The report does hint at where future DOL priorities might be on PRTs.
Supreme Court Rules SEC In-House Judge Process Is Unconstitutional
Decision upholds defendants’ rights to a jury trial when civil penalties are imposed.
Bob McCormick to be Council of Institutional Investors’ New Leader
McCormick will be replacing outgoing director, Amy Borrus.
No Recommendations Yet From the Labor Department on PRT Provider Selection
The department published its overdue report on the rules for selecting an annuity provider, but put off making any changes.
PBGC Rescues 5 Multiemployer Pension Funds Covering 200,000 Workers and Retirees
The grants totaled nearly $6 billion in value.
IRS Announces Intent to Close Basis-Shifting Tax Loopholes
The IRS and Treasury say the changes could raise about $50 billion over 10 years.
Construction Pension With 666 Participants Rescued by PBGC
The Arizona Bricklayer’s pension will now remain solvent through 2051.
PBGC Rescues Two Pensions Covering 25,000 People
The SFA funds used to restore the plans total more than $500M.
House Republicans Characterize ESG as an Anti-Trust Cartel
ESG skeptics allege that the investing strategy is a conspiracy to reduce fossil fuel production.
PBGC Grants $90M to 2 Multiemployer Plans
1 plan was in the entertainment industry and the other in the service industry.
Appeals Court Vacates SEC’s Private Fund Adviser Rule
The court ruled that the SEC lacked the authority to regulate private fund advisers' relationship with investors.
How Sustainability Disclosures and Regulations Benefit Investors
Information becoming available under new regulatory disclosures can be beneficial for investors looking to make sustainable investments.
J.P. Morgan Agrees to Pay $200M to Settle CFTC Charges of Supervisory Failure
The regulator said the magnitude of data gaps in the firm’s surveillance was so large that it missed billions of orders.
UFCW Regional Plan Receives $54.6M Grant From PBGC
The grant will keep the plan solvent through 2051.