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Norm Champ to leave as SEC's director of investment management
trueNorm Champ is resigning from the SEC as director of investment management at the end of January, the Securities and Exchange Commission announced Wednesday.
S&P settles with SEC, 2 states over CMBS ratings
trueStandard & Poor's Ratings Services agreed to pay a total of $77 million to settle federal securities law violations involving its ratings of commercial mortgage-backed securities to the SEC, and to the offices of the New York and Massachusetts attorneys general.
Advocate church plan appeal advances
trueAdvocate Health Care can proceed to the appeals court level to defend itself in a church pension plan challenge, a federal judge said.
SEC approves new transparency rules on swaps trades
trueMost swaps trades will have to be reported to the public under rules approved by the SEC on Wednesday.
SEC prioritizes market risks for 2015, will continue to review private equity fees
trueSEC compliance officials will spend 2015 focused on protecting retail investors' retirement savings and assessing market risks
MetLife appeals to federal court to overturn SIFI designation
trueMetLife Inc. asked a federal court on Tuesday to overturn its designation as a non-bank systemically important financial institution by the Financial Stability Oversight Council.
Direct Edge Holdings to pay $14 million in SEC settlement
trueTwo Direct Edge exchanges now owned by BATS Global Markets will pay $14 million to settle charges of improperly describing stock orders, the SEC announced Monday.
ERISA Industry Committee names new CEO
trueAnnette Guarisco Fildes was named CEO of the ERISA Industry Committee Monday.
FSOC officials still studying money managers
trueFurther regulation of money managers by the Financial Stability Oversight Council is not on the immediate horizon, current and former officials said Friday.
Ontario requiring all DB funds to disclose ESG data
trueA regulation enacted by the Ontario Parliament late last year will require trustees of all occupational defined benefit pension plans in the province to disclose whether environmental, social and governance factors are incorporated in the pension fund’s investment policies and procedures.
Judge rejects motion to dismiss in Advocate church plan case
trueA church plan challenge filed against Advocate Health Care Network Pension Plan can proceed, a federal judge ruled Dec. 31.
PBGC urged to listen more to constituents, take less adversarial stance
trueThe Pension Benefit Guaranty Corp. needs to listen more to plan executives and participants instead of taking an adversarial approach, the agency’s participant and plan sponsor advocate said in a report issued Wednesday.
IRS hybrid plan transition rules criticized
trueSponsors of cash balance plans and other hybrid retirement plans welcomed final rules in September from the IRS but are now criticizing the agency’s proposed transition rules on market rates of return.
Comerica chosen as myRA custodian
trueComerica will serve as custodian for the Treasury Department’s upcoming “myRA” retirement savings bond program, which is being rolled out in phases.
Comerica picked as custodian for Treasury's myRA retirement program
truestrong>Comerica was picked to help manage a retirement savings program President Barack Obama announced earlier this year in an effort to help Americans who don't have 401(k) plans.