SEC Files Lawsuit Over Alleged Insider Trading in Global Industries
US regulators have filed a lawsuit alleging insider trading related to the recent purchase of US underwater oil services company Global Industries Ltd by France's Technip SA.
Regulation
DoL to Hold Off on New Fiduciary Rules for Pension Plans
As part a response to requests from the public, including members of Congress, that the agency allow an opportunity for more input on the rule, the US Department of Labor's Employee Benefits Security Administration will re-propose its rule on the definition of a fiduciary.
Colorado Treasurer Aims to Sue State Scheme, Claiming Lack of Transparency
State Treasurer Walker Stapleton aims to file a lawsuit against the $39 billion Colorado Public Employees' Retirement Association for state workers, claiming that the fund has denied his repeated requests for financial data.
Jury Awards Gundlach $66.7 Million in Bitter Fight With TCW
Jeffrey Gundlach, who was fired from TCW Group and started DoubleLine Capital, won a $66.7 million jury award against his former employer.
Massachusetts Senate Approves New Pension Rules, Changing Benefits Calculation
The Massachusetts Senate has passed a major overhaul of the state pension system to cut benefits for future workers, with the goal of saving $5 billion over a 30-year plan.
News Corp Battles New Charges by Pensions
Pension funds and other News Corp. shareholders have brought new charges against the media giant’s senior management and board of directors.
Detroit Pensions Sue BNY Mellon Over Lehman Losses
The General Retirement System of the City of Detroit has filed a class-action lawsuit with BNY Mellon, claiming that the firm lost more than $1 billion of its money in investments tied to Lehman Brothers.
Risk Instigation?
From aiCIO Magazine's Fall 2011 Issue: Charles Millard on what Dodd-Frank proposed reforms mean for pensions.
CFTC to Delay Dodd-Frank Swap Rules
The Commodity Futures Trading Commission (CFTC) will delay some votes on Dodd-Frank swap rules until 2012.
Dutch Pension Scheme Sues Deutsche Bank Over Mortgage-Backed Securities
In a complaint filed in New York state Supreme Court in Manhattan, ABP -- Europe's second-biggest pension fund -- has claimed Deutsche Bank made false and misleading statements about underwriting standards and practices, loan-to-value ratios, appraisals and owner-occupancy statistics.
Carlyle Group Files SEC Documents to Go Public
The intensely private Carlyle Group has filed documents with federal regulators to sell stock to the public.
Hat in Hand, U.S. Postal Service Goes to Congress
USPS CEO Patrick Donahoe testified Tuesday that without Congressional approval to change rules on benefits funding, the Postal Service will soon be insolvent.
Credit Suisse: S&P 500 Companies Face Larger Pension Deficits Than During Collapse
An analysis by Credit Suisse shows a combined $400 billion pension deficit for S&P 500 companies.
Pensions File $6.5 Billion Lawsuit Against Sino-Forest
Two pension funds invested in Sino-Forest, the Chinese forestry company battling allegations of fraud, have filed a claim against the firm's management, directors, auditors, and advisers, seeking $6.5 billion in damages.
Judge Approves Lehman Liquidation Plan
US bankruptcy court judge James Peck in Manhattan has given his nod of approval for Lehman Brothers to send its liquidation plan to creditors.