Washington

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  1. GE holds talks with sovereign wealth funds for sale of finance assets

    trueGeneral Electric Co. has held talks with “a broad geographic spectrum” of sovereign wealth funds as part of the effort to sell the bulk of its financial business, said Jeff Bornstein, senior vice president and chief financial officer.

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  1. DOL's proposal for new fiduciary standard moves to comment period

    trueThe Department of Labor is moving full steam ahead with a proposed fiduciary standard for anyone giving retirement investment advice after years of retrenching, officials announced Tuesday.

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  2. CalPERS investment committee takes no position on coal divestment bill

    trueThe CalPERS investment committee by an 11-1 vote Monday approved investment staff's recommendation to take no official position on state legislation calling on both the pension fund and CalSTRS to divest from investments in coal companies.

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  3. Legal challenge to SEC enforcement process heard

    trueHouston hedge fund manager George Jarkesy Jr. took on the Securities and Exchange Commission Monday.

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  4. GE will seek to reverse FSOC designation

    trueGeneral Electric Co. will seek to undo designation as a systemically important financial institution after it completes the sale of its lending business GE Capital, which it announced April 10.

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  5. SEC names interim compliance director

    trueMarc Wyatt was named acting director of the SEC's office of compliance inspections and examinations.

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  6. 'Somewhat' moderated growth led to FOMC decision, minutes show

    trueThe Federal Open Market Committee’s decision to reaffirm the zero to 0.25% target range for the federal funds rate at its March meeting was based on “somewhat” moderated economic growth since January, according to meeting minutes released Wednesday.

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  7. SEC compliance chief to depart at end of April

    trueAndrew Bowden is stepping down as director of the SEC’s office of compliance inspections and examinations, the agency announced Tuesday.

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  8. DOL, SEC tag-teaming managers on enforcement

    trueExecutives at money managers and other financial firms — bracing for new fiduciary standards from both the DOL and SEC — are feeling increasingly double-teamed by the agencies.

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  9. Global hunt for offshore tax cheats

    trueToday, many financial institution executives and foreign governments might soon start feeling much the same way about the rising tide of FATCA — the U.S. Foreign Account Tax Compliance Act — which is finally reaching their shores after its initial enactment in 2010.

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  10. Treasury Department, IRS release guidance to correct auto-enrollment errors

    trueThe Treasury Department and the IRS on Thursday announced new guidance to defined contribution plans offering auto-enrollment features that will make it easier for the plans “to easily correct administrative errors without risking the plan’s tax qualification and without having to obtain IRS ...

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  11. Patriarch Partners files suit to have SEC charges heard in U.S. District Court

    truePatriarch Partners and CEO Lynn Tilton are fighting back against charges announced by the SEC on Monday involving three of the private equity firm's funds.

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  12. J.P. Morgan executives said to be deposed in SEC asset management probe

    trueJ.P. Morgan Chase executives have been deposed and thousands of pages of internal documents subpoenaed as part of a U.S. investigation into the bank's asset management unit, according to people familiar with the situation.

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  13. SEC should increase board diversity disclosure — public pension funds

    trueNine large public pension funds asked the SEC on Tuesday to require companies to disclose more about their boards’ diversity.

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