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China connection? Investors need clarification
trueInstitutional investors must have scratched their heads at the remarks of Jacob J. Lew, secretary of the Treasury Department, a few weeks before the beginning of the recent turmoil in the markets.
Money laundering safeguards being extended to managers
trueHedge fund and other private fund managers will have to revisit whether they know enough about their clients under recently proposed anti-money laundering rules, experts said.
Treasury Secretary Lew backs Puerto Rico bankruptcy protection
trueTreasury Secretary Jacob Lew supports allowing Puerto Rico to access Chapter 9 bankruptcy protection as the commonwealth struggles to deal with $72 billion in debt.
Dodd-Frank five years later
trueIt's been five years since President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, a far-reaching law enacted in the wake of the 2008 financial crisis that aimed to stave off future economic meltdowns.
Federal agencies report finds high-frequency trading a factor in October 'flash crash'
trueThe “flash crash” in U.S. Treasuries on Oct. 15, 2014, came from several factors, including high-frequency trading.
GE will seek to reverse FSOC designation
trueGeneral Electric Co. will seek to undo designation as a systemically important financial institution after it completes the sale of its lending business GE Capital, which it announced April 10.
Treasury Department, IRS release guidance to correct auto-enrollment errors
trueThe Treasury Department and the IRS on Thursday announced new guidance to defined contribution plans offering auto-enrollment features that will make it easier for the plans “to easily correct administrative errors without risking the plan’s tax qualification and without having to obtain IRS ...
DC East conference themes focus on litigation, regulation, cybersecurity threats
trueLitigation, regulation, legislation and some consternation emerged as dominant themes at the annual Pensions & Investments' East Coast Defined Contribution Conference, held March 1-3 in Miami.
Multiemployer plans untangle reforms
trueSome multiemployer pension fund executives are trying to figure out whether to take advantage of a controversial new reform law that allows potential benefit cuts for participants and retirees. Others are hoping for further reforms to allow for alternative plan designs.
FSOC moves toward more transparency
trueThe Financial Stability Oversight Council agreed Wednesday to bring more transparency to its process for determining whether non-bank financial institutions are systemically important to the country’s financial stability.
Monetary policy divergence becoming unusually explicit
trueMonetary policy divergence — and the opportunities and downfalls it presents — is set to take center stage in conversations among global money managers in 2015, with expectations that divergence will accelerate.
IRS allows use of annuities in target-date fund series
trueThe Internal Revenue Service on Friday said defined contribution plans’ use of a target-date fund series containing deferred annuities won’t violate IRS rules against DC plans discriminating in favor of higher paid employees, as long as other IRS guidelines are followed.
IRS, Treasury release final hybrid plan rules
trueThe Treasury Department and the IRS finalized regulations for hybrid retirement plans such as cash balance plans that have been pending since 2010.
ERISA at 40
trueWhile the Employee Retirement Income Security Act of 1974 benefited millions of people, it did not live up to the “retirement income security” part of its name. Along with praise for what ERISA did accomplish, there are now calls for fixing what it did not.
Lessons learned from ERISA
trueERISA was a farsighted law in many aspects, especially in defining and assigning fiduciary responsibility, including prohibition on conflicts of interests, to those overseeing pension funds. But ERISA in the long term failed to expand defined benefit coverage.