Former Labour Minister: UK Public Pension System Desperately Needs a Makeover
According to John Hutton, who was a pensions minister in Tony Blair’s Labour government, the UK's public-sector pension system need reform.
Regulation
Credit Ratings Not Always Subject to First Amendment Protection, Judge Rules
A federal judge has ruled that credit ratings are not always protected opinion under the First Amendment.
Damning Picture of PBGC Emerges
The Pension Benefit Guaranty Corporation used improper outside vendors to calculate benefits, according to an audit.
Union Pensions Sue Bulge-Bracket Banks Over MF Global
Goldman Sachs, Citigroup are among those named in a lawsuit alleging misstatements regarding the European debt exposure of failed investment house MF Global.
Should Public Plans Implement LDI?
From aiCIO Magazine's 2011 Liability-Driven Investing Issue: Wishful thinking for public pension plans – and LDI providers.
Increasing Complexity
From aiCIO Magazine's 2011 Liability-Driven Investing Issue: If the world ran out of long bonds, what would plan sponsors do?
Judge Criticizes SEC in Citigroup Mortgage Settlement Over CDOs
Federal Judge Jed Rakoff is in the midst of questioning the Securities and Exchange Commission and Citigroup over a proposed $285 million settlement with the bank over the sale of toxic mortgage debt.
Louisiana Pension Sues JP Morgan Over Alleged Breach of Fiduciary Duty
The Louisiana Municipal Police Employees Retirement System, which invests in JP Morgan, has sued the bank claiming breach of fiduciary duty by its directors.
Citi Wins Over Abu Dhabi in Arbitration Case on $7.5B Investment
Citigroup has won its arbitration case over Abu Dhabi’s $7.5 billion investment in the bank.
Fed Forges Ahead With Operation Twist
The Federal Reserve has decided to continue its plan of purchasing longer-term securities while holding interest rates low through 2013 -- a move that may contribute to potentially detracting appeal of liability-driven investing strategies for plan sponsors.
NYC Judge Rejects Madoff Trustee's $19 Billion Claim From JPMorgan
A New York City judge has tossed out a $19 billion claim that a trustee seeking money for Bernard Madoff's investors demanded from JPMorgan Chase, which had been the Ponzi schemer's bank.
CFTC Approves SEC Systematic Risk Reporting Rules
The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have finalized new rules for systematic risk disclosure.
California Mega-Funds Voice Support For Pension Overhaul Discussion
The California Public Employees’ Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS) have issued statements on the governor's pension reform proposal.
NYC Mayor, Comptroller Seek Structural Overhaul of City's Five Pensions
Mayor Michael Bloomberg and New York City Comptroller John Liu have announced a sweeping overhaul of the city’s five main public employee pension systems.
California Governor Announces Pension Overhaul
California Governor Jerry Brown has proposed sweeping rollbacks to public employee pension benefits in California.