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California governor signs bill requiring CalPERS, CalSTRS to divest coal
trueCalifornia Gov. Edmund G. “Jerry” Brown Jr. signed into law Thursday a bill that requires CalPERS and CalSTRS to divest from investments in coal companies, he announced on his website.
Fed minutes show members waiting for signs of inflation
trueThe Federal Open Market Committee's decision at its Sept. 16-17 meeting to keep federal interest rates at zero to 0.25% came as a result of concerns about global economic growth and overall financial market turbulence, said meeting minutes released Thursday.
Blackstone Group settles with SEC on accelerating monitoring fees and disclosure
trueThe Blackstone Group will pay $39 million to settle charges that accelerated monitoring fees and legal fee discounts benefiting the firm were not fully disclosed to investors, who will get $28.8 million of the settlement, the Securities and Exchange Commission announced Wednesday.
Former SEC chairmen call for agency to adopt fiduciary rule
trueThree former Securities and Exchange Commission chairmen called Tuesday for the agency to develop a fiduciary rule.
Supreme Court lets stand overturned insider-trading case decision
trueThe Supreme Court on Monday declined to revisit the federal insider trading case against hedge fund managers Todd Newman and Anthony Chiasson, whose convictions were overturned in December by the 2nd U.S. Circuit Court of Appeals in New York.
'Rally for Retirement' participants want Congress to take notice, listen
trueRetirement plan service providers and consultants will storm Capitol Hill on Oct. 20 to remind members of Congress of the role the private-sector retirement system plays in the national economy and their own districts.
Upending careers, portfolios
trueInterest rates pretty much have fallen steadily for 34 years, the working lives of most institutional investors, with only relatively brief periods of increases, creating a bullish market for bonds.
New House caucus focuses on corporate gender diversity
trueWomen could get more support from the men in Congress with the just-launched Men for Women Caucus in the House of Representatives.
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.
Central States Teamsters pension fund seeks permission to cut benefits
trueThe Teamsters Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill., is seeking permission to cut benefits for participants, including retirees, as part of a proposed rescue plan awaiting approval from the Treasury Department. The pension fund had assets of $17.8 billion as of ...
DOL seeks new fiduciary for defunct Encorium plan
trueThe Department of Labor is seeking to remove Encorium Group Inc. as fiduciary of its 401(k) plan, for failure to conclude a plan termination.
IRS urged to keep determination letters
trueGroups representing large sponsors of retirement plans called on the IRS on Thursday to reverse its decision to stop issuing determination letters, which plans rely on to affirm qualified tax status.
House passes defense bill with retirement reforms
trueThe House of Representatives on Thursday passed a fiscal year 2016 defense spending bill that includes some reforms to the military retirement system.
Credit Suisse receives QPAM exemption from DOL
trueThe Department of Labor announced Thursday it granted Credit Suisse Asset Management an exemption allowing it to continue providing asset management services to retirement plans after its banking entity Credit Suisse AG was convicted of helping U.S. citizens avoid taxes overseas.
SEC settles with high-frequency trader for not complying with agency rules
trueLatour Trading, a high-frequency trader, will pay a total of $8 million to settle charges that it sent millions of orders to U.S. exchanges that did not comply with SEC market structure rules.