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A vital SEC crucial to markets
trueThe Securities and Exchange Commission, according to testimony by its chairwoman, Mary Jo White, is desperately short of resources and cannot adequately fulfill its responsibility to oversee the capital markets.
SEC rule could push trading costs higher
trueThe Securities and Exchange Commission's latest salvo in the war against market instability could mean higher trading fees for money managers and some smaller equity trading venues curtailing operations or shutting down completely.
CFTC eases restrictions on hedge fund advertising
trueThe Commodity Futures Trading Commission softened restrictions on advertising by hedge fund managers that are registered as commodity pool operators.
CFTC says it has evidence of price-rigging on ISDAfix benchmark
trueDerivatives regulators told the Justice Department they've found evidence of criminal behavior following an investigation into banks' alleged manipulation of ISDAfix, a benchmark used to set rates for trillions of dollars of financial products.
Gotbaum reflects on accomplishments, challenges at PBGC
trueJoshua Gotbaum, who resigned Sept. 2 as director of the Pension Benefit Guaranty Corp., counts building a strong management team and more interaction with constituents among his success stories during his four-year tenure.
FSOC considers designating MetLife as systemically important
trueMetLife Inc. should be designated a systemically important financial institution, members of the Financial Stability Oversight Council voted Thursday in a closed meeting.
Fitch Ratings: Pension liabilities a key measure in distressed companies
trueThe pension liabilities of companies in or near bankruptcy deserve closer attention, said a special report issued Wednesday by Fitch Ratings.
FHFA plans to kick REITs out of home-loan banks
trueThe overseer of the Federal Home Loan Banks is planning changes to membership rules that would keep investment firms and lenders lacking customer deposits out of the U.S. government-chartered system.
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.
ERISA architect Nagle praised as intelligent, fair
trueRobert E. Nagle, one of the architects of the Employee Retirement Income Security Act of 1974 who died Aug. 16, is remembered by colleagues as a good, kind, competent man whose knowledge and fairness in the employee benefits field was unmatched.
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.
SEC announces pilot program to expand tick sizes for small-cap trades
trueThe SEC on Tuesday announced a one-year pilot program to widen minimum tick sizes for small-cap stocks.
CFTC appoints new secretary
trueChristopher J. Kirkpatrick was named secretary of the Commodity Futures Trading Commission.
High-speed traders enlist former CFTC commissioner to improve image
trueFormer U.S. Commodity Futures Trading Commission member Bart Chilton, an outspoken critic of some high-speed trading practices while at the agency, has been enlisted in a Washington-based effort to improve the image of an industry beset by regulatory and legislative scrutiny.
Public pension funds get share of BofA's record $16.65 billion settlement
trueSeveral state pension funds are among the recipients of Bank of America Corp.’s $16.65 billion in fines and consumer relief to end federal and state probes into mortgage bond sales.