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President Obama taps Thomas Reeder as PBGC director
truePresident Barack Obama will appoint W. Thomas Reeder Jr. to serve as director of the Pension Benefit Guaranty Corp.
Democratic senators urge Obama to clarify rules on state-sponsored private-sector plans
trueA group of Democratic senators are urging President Barack Obama to act “as soon as possible” to provide clarity to states interested in sponsoring private-sector retirement plans.
SEC charges Gray Financial Group for defrauding public pension funds
trueThe Securities and Exchange Commission announced fraud charges Thursday against Gray Financial Group for allegedly selling unsuitable investments to the $1.3 billion Atlanta General Employees’ Pension Fund and pension funds for the city’s firefighters and police officers, as well as the MARTA/ATU ...
SEC grants waivers to banks settling criminal cases
trueThe Securities and Exchange Commission has granted waivers to the five banks allowing them to continue to serve as investment advisers and to issue securities after settling criminal charges of manipulating foreign-exchange markets and benchmark interest rates.
SEC proposes rules requiring more fund disclosure, including on derivatives
trueThe Securities and Exchange Commission announced Wednesday a series of proposals aimed at modernizing and enhancing data reporting by registered investment companies and investment advisers.
Fed cites weakening economic data in reaffirming low rates
trueThe Federal Open Market Committee's decision to reaffirm the zero-to-0.25% target range for the federal funds rate at its April 28-29 meeting was based on weakening economic data, moving the path to higher rates further into the future, said meeting minutes released Wednesday.
6 banks to pay $5.6 billion over manipulating foreign-exchange markets
trueSix banks will pay a combined $5.6 billion to settle charges that they manipulated foreign-exchange markets.
SEC to propose that mutual funds disclose risk of rate rise
trueThe Securities and Exchange Commission is set to propose a requirement that mutual fund companies report how vulnerable their bond portfolios are to interest rate changes, said two people familiar with the matter.
Seeing red over bank affiliates' waivers
trueMoney managers affiliated with banks admitting they violated U.S. securities, banking and other laws could find it hard to get the necessary permission from regulators to continue running the more than $1.3 trillion they oversee.
Experts dissecting fiduciary rule's carve-outs
trueDefined contribution industry participants are paying close attention to the carve-outs — exemptions distinguishing non-fiduciary behavior from fiduciary behavior — in the Labor Department's fiduciary rules proposed last month.
Labor Department extends fiduciary rule comment period
trueThe Department of Labor will give extra time for public comments on its proposed new fiduciary conflict-of-interest rule.
Senators urge caution on multiemployer cuts
trueDemocratic members of the Senate Finance Committee asked Treasury Department officials to tread carefully as they develop the process for implementing multiemployer pension reforms enabling some plans to cut benefits.
SEC to expand alternative investment examination program to more asset classes
trueSecurities & Exchange Commission plans to expand its ongoing alternative investment examination program to other alternative investment managers including credit advisers, infrastructure and timber managers, said Marc Wyatt, acting director of the SEC's office of compliance inspections and ...
Pennsylvania Senate passes pension reform bill
trueThe Pennsylvania State Senate passed a pensions reform bill Wednesday that intends to update the funding, sustainability and fiscal responsibility of the state's two largest pension funds, said information on the Senate's website.
SEC to scrutinize private equity secondary transactions
trueSEC examiners will be paying closer attention to how private equity firms handle secondary transactions, Igor Rozenblit said Wednesday at a global private equity conference in Washington.