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Deutsche Bank to pay $2.5 billion settlement for LIBOR manipulation
trueDeutsche Bank will pay more than $2.5 billion to settle charges by U.S., U.K. and New York state authorities that it manipulated the London interbank offered rate for the U.S. dollar, yen, pound and Swiss franc, and the euro interbank offered rate interest rate benchmarks.
Rep. Crowley calls for universal retirement accounts
trueRep. Joseph Crowley, D-N.Y., laid out a sweeping proposal for increasing Americans' retirement savings and other long-term needs Tuesday.
Investor groups say SEC should require companies to disclose political spending
trueFive state treasurers, including North Carolina Treasurer Janet Cowell, sole trustee of the $88.8 billion North Carolina Retirement Systems, Raleigh, are urging the SEC to require corporate political disclosures.
EBRI: Americans' retirement confidence slowly improving
trueAmericans' confidence in a secure retirement is inching up, but there has been no progress in getting people who haven't planned for retirement to start planning, said the 25th annual Retirement Confidence Survey.
BlackRock settles SEC charges over failing to disclose conflict of interest
trueThe SEC charged BlackRock subsidiary BlackRock Advisors on Monday with failing to disclose a conflict of interest created by the outside business activity of one of the firm’s portfolio managers, said a cease-and-desist order from the Securities and Exchange Commission.
DOL's proposed fiduciary rule on advice gets a thumbs-up
trueDefined contribution industry executives are optimistic that after nearly four years of work and intense debate, the Department of Labor's proposal for updating a 40-year fiduciary standard for anyone giving retirement investment advice will finally bring greater protection for their participants ...
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.
DOL grants BNP Paribas money management exemption
trueBNP Paribas can continue providing money management services to U.S. retirement plans, despite the parent company's June 2014 guilty plea to violating U.S. sanctions in several countries.
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.
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.
Legal challenge to SEC enforcement process heard
trueHouston hedge fund manager George Jarkesy Jr. took on the Securities and Exchange Commission Monday.
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.
SEC names interim compliance director
trueMarc Wyatt was named acting director of the SEC's office of compliance inspections and examinations.
'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.
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.