Regulation
Research Calls Lack of Diversity Atop Financial Regulators a ‘Bipartisan Failure’
There has never been an African American chair of the SEC, CFTC, or FDIC.
News Archive: Jul - 2020
Risk
Arkansas Teachers Pension Sues Allianz Global Investors over $774 Million Loss
Firm is accused of abandoning strategy intended to protect against market downturns during COVID-19 crash.
Risk
Private Investigator Tech Startup Charged in $18.5 Million Fraud
Funds allegedly were diverted by the CEO for private jet charters, vacations, a luxury car, jewelry, and mortgage payments.
Market Moves
Ackman Bets Against Junk Bonds, Now Resurgent
Hedge fund honcho thinks dragged-out economic recovery will harm high-debt companies.
Risk
Racial Injustice Will Have Greater Weight in ESG Scores, S&P Global Says
About 217 businesses in the S&P 500 have publicly supported the Black Lives Matter movement to show solidarity and protect their reputations. Question: How sincere are they?
Regulation
Cryptocurrency Firm Co-Founder Pleads Guilty to Coin Offering Fraud
Sam Sharma could face up to 15 years in prison for defrauding victims of $25 million.
Market Moves
Economy Faces a ‘Bumpy Ride,’ Says Goldman’s Chief
Recovery will take a long time, David Solomon warns.
Alternatives
Institutional Investors Boosting Hedge Fund Allocations, Survey Finds
Allocators leery of a second half downturn are diversifying portfolios with the asset class.
Pensions
Michigan Pensions Sue Bayer over $63 Billion Monsanto Acquisition
Chemical company allegedly misled investors about ‘significant liability risk’ from ‘thousands’ of lawsuits against Monsanto.
Pensions
Pittsburgh Pension Settles Lawsuit with Molina Healthcare
Steamfitters Local 449 Pension Plan agreed to drop the case for $7.5 million.
Market Moves
The Federal Deficit Is a Forgotten Menace, Cooperman Says
Billionaire hedgie knocks Trump’s pre-recession big spending.
Pensions
Group Urges US Financial Regulators to Act Now on Climate Change
Investors with combined $1 trillion in assets back letter to address ‘systemic financial risk.’
Asset Management Culture
Former Temasek Americas Head Boon Sim Joins CPPIB Board
The pension plan had been searching for an international director replacement since Jackson Tai retired last March.
Pensions
Church Pension Fund Asset Value Declines by $500 Million in 2020
Episcopalian fund beats benchmarks over longer term, but misses targets.
Asset Allocation
Norges Bank Raises Stake to 5% in Fossil Fuels Giant BHP
Norway’s sovereign wealth fund, which has been divesting coal and oil stocks, has the Australian company on a kind of probation.