Billionaire Investor Carl Icahn Faces Pension Suit Over Energy Deal
Pension funds are aiming to bar billionaire investor Carl Icahn from accumulating more shares of CVR Energy Inc.
Regulation
Wal-Mart Reelects Board Members Despite Pension Backlash
Wal-Mart has reelected all of its board members despite strong criticism from pension funds seeking to oust them.
Attorney General Investigates Dartmouth Endowment Mismanagement Claims
Dartmouth College is busy defending itself after anonymous accusations point to mismanagement and conflicts of interest at the endowment.
NASRA: GASB Standards Are Accounting Guidelines, Not Funding Requirements
New standards implemented by the Governmental Accounting Standards Board (GASB) are expected to remove the link between pension accounting and funding, according to a letter by Keith Brainard of the National Association of State Retirement Administrators to the group's members.
Roubini: JP Morgan, Dimon Guilty of 'Arrogant Violation' of Volker Rule
"JP Morgan & Dimon were not hedging. They were involved in pure & sheer speculation in arrogant violation of the spirit of the Volcker rule," Nouriel Roubini comments on his Twitter page.
Institutional Investors of the World Unite on 'Fracking'
A group of activist investors representing $1 trillion in assets under management are seeking action from the hydraulic fracturing industry due to the increasing level of uncertainty about its potential for environmental damage.
Largest Investors Pursue China's Greater Open Door Policy
Some of the world's largest investors have signed up to take a bigger stake in China's growing economic boom.
SEC Charges Former Detroit Pension Officials With Influence Peddling
The Securities and Exchange Commission has charged former Detroit officials, along with an investment adviser to the city's pension funds, with participating in an influence peddling scheme.
Pensions Warned to Push on With Reform Despite Deficits
“It is a misperception that new benefit structures raise costs in the short run because of a Government Accounting Standards Board (GASB) accounting rule that accelerates amortization schedules,” says Dr. Robert M. Costrell, Professor of Education Reform and Economics at the University of Arkansas.
Tax Ruling Signals Huge Rebate for Investors
European courts rule withholding tax on non-domestic investment in French equities should be removed and reimbursed.
Pensions Demand Trading Equality (With Caveats)
Pension funds have asked Brussels to consider their position when constructing new trading guidelines.
Madoff Trustee Seeks More Money for Victims
Bernie Madoff's family has been hit with a lawsuit totaling $255.3 million for failing to catch the patriarch's Ponzi scheme.
Virginia Court Dismisses BNY Mellon FX Lawsuit
BNY Mellon has won the dismissal of a Virginia-based foreign-exchange fraud case filed through the state circuit court in Fairfax.
CalPERS Responds to Primack Critique, With Vitriol
A recent article by Fortune Magazine attacks CalPERS over questions surrounding placement agent activity, but the California scheme has fired back in defense.
SEC Charges Former CalPERS CEO, Board Member With Fraud
The former CEO of the California Public Employees’ Retirement System has been sued by the Securities and Exchange Commission over claims he defrauded an investment firm into paying $20 million in fees to a friend’s placement agencies.