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Senate reduces pension smoothing measures for highway bill
trueThe Senate version of a highway funding bill approved Tuesday calls for less generous pension funding calculations for defined benefit plans than a House plan approved July 15.
FOMC continues tapering, low rates
trueMembers of the Federal Open Market Committee voted Wednesday to continue tapering their bond-buying program, dropping to $25 billion in monthly purchases from $35 billion in June. Information received since the June meeting showed second-quarter growth in economic activity but continued ...
Chamber of Commerce wants simplified corporate disclosures
trueThe Securities and Exchange Commission should simplify corporate disclosure to make filings more useful to investors, including doing away with a requirement to show the company’s stock performance.
Poll results: Do you think Dodd-Frank addresses the 'too-big-to-fail' threat?
trueThe vast majority of P&I Online readers do not believe the Dodd-Frank Act addresses the "too-big-to-fail" threat.
Citigroup alternative trading system settles with SEC
trueCitigroup Global Markets' LavaFlow alternative trading system will pay $5 million — $2.85 million in penalties and the remainder in refunds to clients including money managers — to settle SEC charges that it did not protect subscribers' confidential information.
Morgan Stanley settles RMBS case with SEC
trueMorgan Stanley will pay $275 million to settle charges brought by the Securities and Exchange Commission alleging inadequate investor disclosure in two residential mortgage-backed securities offerings in 2007.
White House launches rural investment fund
trueThe White House launched a rural infrastructure investment fund Thursday as part of a public/private partnership to attract more investors to rural projects, including energy and infrastructure development.
Senate committee limits PBGC plant-closing authority
trueThe Pension Benefit Guaranty Corp. would have to use a narrower definition of pension liability rules in cases of corporate shutdowns under legislation approved Wednesday by the Senate Health, Education, Labor and Pensions Committee.
Church pension plan status rejected by U.S. District Court
trueIn one of five major class-action lawsuits challenging church-affiliated sponsors of defined benefit plans, a federal judge ruled Tuesday that the pension plan of Dignity Health is covered by ERISA.
SEC approves money market reforms for institutional funds
trueInstitutional prime money market funds will have several new tools for preventing runs, under new rules approved Wednesday by the Securities and Exchange Commission.
CFTC commissioner appointed CEO at International Swaps and Derivatives Association
trueScott O'Malia was named CEO of the International Swaps and Derivatives Association, the organization announced Wednesday.
The Daily Show takes on pension smoothing
trueJon Stewart, on his “The Daily Show” on Comedy Central, discussed pension smoothing and how it helps the federal government raise tax revenue, Mr. Stewart concluded this is the first time he's heard smoothing used as a euphemism for sex.
Zell slams Pershing Square CEO over Herbalife action
trueSam Zell ripped into William Ackman, CEO of Pershing Square Capital Management, for seeking to run down Herbalife Ltd. to bolster the hedge fund’s short position.
Hedge funds, banks come under fire for basket options
trueRenaissance Technologies, Barclays Bank PLC, and Deutsche Bank AG were criticized for misusing structured financial products to avoid taxes and banking leverage limits.
CFTC commissioner resigning
trueScott O'Malia is resigning as a CFTC commissioner effective Aug. 8.