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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.
Fed reaffirms low federal fund rates, but drops 'patient' in approach
trueThe Federal Open Market Committee is reaffirming the current zero to 0.25% target range for the federal funds rate, said a statement Wednesday at the end of a two-day meeting.
ICE Futures U.S. pays $3 million in CFTC settlement
trueICE Futures U.S. reached a $3 million settlement with the CFTC over charges that the global futures and options exchange submitted false and incomplete reports and data to the agency for at least 20 months.
SEC to look closer at internal compliance, Foreign Corrupt Practices Act violations
trueInternal compliance controls at firms regulated by the Securities and Exchange Commission will get more scrutiny this year, enforcement director Andrew Ceresney said Thursday at a Corporate Counsel Institute conference in Washington.
Employers must disclose pension derisking efforts to PBGC
trueEmployers that derisk their pension funds now have to disclose risk transfer information to the Pension Benefit Guaranty Corp. as part of paying their annual pension insurance premiums to the federal agency.
PBGC study: Multiemployer benefit cuts will be deeper
trueMore than half of multiemployer plan participants will have their benefits reduced if their plans become insolvent and rely on government guarantees in the near future, said a study released Wednesday by the Pension Benefit Guaranty Corp.
Washington State Investment Board taps 2 for emerging markets equity
trueWashington State Investment Board hired Brandes Investment Partners to manage up to $300 million and AQR Capital Management to run up to $500 million in emerging markets equity.
Firms oppose SEC's internal enforcement process
truePursuing enforcement actions in-house instead of through the courts has paid off for the Securities and Exchange Commission in recent years, but the agency might now be a victim of its own success.
Obama puts weight behind push for fiduciary standard
trueWith President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.