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Patriarch Partners files suit to have SEC charges heard in U.S. District Court
truePatriarch Partners and CEO Lynn Tilton are fighting back against charges announced by the SEC on Monday involving three of the private equity firm's funds.
J.P. Morgan executives said to be deposed in SEC asset management probe
trueJ.P. Morgan Chase executives have been deposed and thousands of pages of internal documents subpoenaed as part of a U.S. investigation into the bank's asset management unit, according to people familiar with the situation.
SEC should increase board diversity disclosure — public pension funds
trueNine large public pension funds asked the SEC on Tuesday to require companies to disclose more about their boards’ diversity.
Schapiro: Multitude of trading venues a regulatory challenge for SEC
trueThe equity market structure with more than 70 venues for trading and 35% of trades done in dark pools represents a major regulatory challenge for the Securities and Exchange Commission, Mary Schapiro, former SEC chairwoman, said Tuesday before attendees at a conference of the Council of ...
Accounting class-action lawsuits rise in 2014 — study
trueThe number of securities class actions alleging accounting violations increased in 2014, spurred by increased SEC enforcement and more cases involving corporate restatements, according to a new report.
SEC charges private equity firm Patriarch, CEO with improper valuation
trueThe SEC on Monday charged Patriarch Partners and CEO Lynn Tilton with improper asset valuation and failure to disclose poor performance of loan assets in three collateralized loan obligation funds the private equity firm manages.
House budget calls for higher federal employee contributions and lower G Fund return
trueThe House adopted a fiscal year 2016 budget Wednesday that calls for higher retirement contributions from federal workers and a lower rate of return for the Thrift Savings Plan's G Fund.
Omega hedge fund firm receives federal subpoenas
trueBillionaire Leon Cooperman, founder of hedge fund Omega Advisors, told clients that his firm has been subpoenaed by the U.S. Attorney’s Office in New Jersey and the Securities and Exchange Commission, seeking information on trading in certain securities.
More transparency sought at FSOC
trueMembers of the Senate Banking, Housing and Urban Affairs Committee pressed for more transparency at the Financial Stability Oversight Council during a hearing Wednesday.
High-frequency traders to be regulated by FINRA
trueHigh-frequency and other proprietary traders will be overseen by the Financial Industry Regulatory Authority under a proposed rule announced by the Securities and Exchange Commission on Wednesday.
ERISA Advisory Council to study derisking and lifetime participation
trueThe Department of Labor ERISA Advisory Council will spend 2015 taking an in-depth look at pension fund derisking and lifetime plan participation.
SEC pay-to-play critics get their day in court
trueRepublican state committees in New York and Tennessee asked a federal appeals court in Washington on Monday to overturn the Securities and Exchange Commission’s pay-to-play rule.
Litigation heavy on minds of defined contribution execs
trueDefined contribution plan executives are as concerned about litigation as they are about failing to meet their participants' retirement goals, investment consultants revealed in a survey by Pacific Investment Management Co. LLC, Newport Beach, Calif.
SIFI designation could increase innovation, too
trueWhile the categorization of certain large, global money managers and some investment funds as systemically important financial institutions might increase costs, it also could increase innovation in the industry.
Broader SIFI designation has managers scrambling
trueA number of large, global money managers are at risk of increased costs and competitive disadvantage if current proposals by global regulators to categorize them as systemically important financial institutions come to fruition.