UK Shareholder Activist Body Urges News Corp to Overhaul Board Structure
According to the UK’s leading shareholder activist body, it is imperative for News Corp to overhaul its board structure in the wake of its phone hacking scandal.
Regulation
UK's FSA Confirms Delay of Solvency II for Insurers
The Financial Services Authority (FSA) has asserted that the introduction of Solvency II rules in the UK for insurers will be delayed an extra year.
US and NY Governments Enter BNY Mellon FX Lawsuits
BNY Mellon has been sued by the New York attorney general and the United States attorney in Manhattan, who claim the financial institution defrauded New York City pension funds and other retirement plans nationwide over the price of foreign-exchange transactions.
Moody’s, Fitch, S&P Battle Pension Lawsuit Over Misleading Ratings in Mortgage-Backed Securities
US District Judge James O. Browning in Albuquerque, New Mexico has ruled that Moody’s Corp., Fitch Inc. and Standard & Poor’s must face a New Mexico securities lawsuit.
Morgan Stanley Wins Dismissal of Libertas CDO Suit by Virgin Islands Pension
Morgan Stanley has won the dismissal of a Virgin Islands government pension fund lawsuit accusing the bank of defrauding investors of $1.2 billion of risky mortgage debt that it expected to fail.
Troubled Chinese Timberland Operator Faces Another Shareholder Lawsuit
A fund manager and Quebec pension have sued troubled Chinese timberland operator Sino-Forest.
Solvency II Is a Bad Idea, British Industry Group Warns
British businesses will be negatively impacted if schemes are forced into Solvency II capital requirements, the Confederation of British Industry has cautioned.
Federal Judge Dismisses Lawsuit Brought by Ohio Pensions Against Big-Three Credit Agencies
A federal judge in Columbus has dismissed a lawsuit brought by Ohio’s five public pensions against Standard & Poor's, Moody's, and Fitch Ratings.
Goldman Sachs Wins Dismissal of Lawsuit Over Billions in Bonuses
Goldman Sachs' board of directors has won the dismissal of a lawsuit seeking to recover billions of dollars of bonus payouts and other compensation awarded for 2009.
PIMCO's El-Erian Envisions a European Recession
According to PIMCO's Mohamed El-Erian, European growth will stall over the coming year as volatility will persist.
Despite Position as LDI Frontrunners, Dutch Pensions Suffer Severe Drop in Funding
Dutch schemes have suffered an 11% drop in funding as a result of poor market performance and increased interest rates, according to De Nederlandsche bank (DNB), the Dutch pension regulator.
Operation Twist Leads Fed to Move $400 Billion to Long-Term Holdings
The Federal Reserve Open Market Committee (FOMC) has announced a bond swap, with plans to purchase $400 billion in longer-term securities while selling an equal amount of short-term ones by June 2012.
With Government Response to Cooper Review, Australia Superannuation Funds Face Greater Scrutiny
Following broad government reforms, Australian pension schemes will encounter heightened scrutiny of their corporate governance and risk management policies that will affect investment decisions.
Boston Pension Claims It Was Taken Advantage of By State Street With FX
State Street continues to battle claims that it took advantage of pension schemes when providing foreign-currency trading services in recent years.
With Fed Move to Buy Long-Term Treasuries, How Will LDI Fare?
As the Federal Reserve moves toward new steps to purchase long-dated Treasury bonds and decrease interest rates on long-term loans, investors question the impact on liability-driven investment.