Ohio sues credit-rating agencies
By Timothy Inklebarger November 20, 2009Ohio is suing credit rating agencies Standard & Poor's, Moody's and Fitch over inaccurate ratings on mortgage-backed securities that helped spur the credit crisis, Ohio Attorney General Richard...
New Mexico council releases subpoenas
By Arleen Jacobius November 18, 2009The $12.8 billion New Mexico State Investment Council, Santa Fe, has received separate subpoenas from the U.S. Justice Department, a federal grand jury and the SEC for documents pertaining to its...
Reader's Digest plan trustee challenges reorganization
By Arleen Jacobius November 17, 2009Reader's Digest Association Inc.'s Chapter 11 bankruptcy reorganization is being challenged by a trustee of the company's U.K. pension plan, claiming the company did not disclose that the plan was...
New federal task force to focus on financial crimes
By Doug Halonen November 17, 2009An interagency federal task force to crack down on fraud and other financial crimes was created today under an executive order issued by President Barack Obama.The Financial Fraud Enforcement...
Michigan pension plan, other investors sue Boeing
By John Pletz November 17, 2009Boeing is being sued by shareholders, including the $202 million Livonia (Mich.) City Employees Retirement System, who claim the company misled them about problems with its 787 Dreamliner, which has been plagued by setbacks.
SEC issues $2.4 billion in sanctions for FY2009
By Doug Halonen November 17, 2009The SEC issued a total of about $2.4 billion in monetary sanctions for the year ended Sept. 30, up 144% from a year earlier, the agency said in a statement today.The sanctions for fiscal year...
CalPERS toughens placement agent disclosure rules
By Randy Diamond November 16, 2009CalPERS’ external managers will be required to disclose any fees they paid to placement agents to help them obtain business from the $196.6 billion system under new disclosure provisions...
Supreme Court hints at ruling about money manager fees
November 16, 2009The U.S. Supreme Court signaled it might require money managers to justify charging retail mutual fund customers dramatically more than institutional investors in similar separate-account strategies.
Missouri plan takes State Street to court over sec lending demand
By Christine Williamson November 13, 2009Missouri Public School Retirement System, Jefferson City, is taking legal action against State Street Bank and Trust Co. in state court after the company demanded that the $27 billion system return...
Marsh & McLennan in $400 million settlement with state plans
By Douglas Appell November 13, 2009Marsh & McLennan agreed to pay $400 million to settle a federal class-action lawsuit filed in 2004 alleging the firm violated securities law surrounding MMC’s practice of charging contingent...
Ex-Tyco board member to pay $5.6 million to settle N.J. suit
By Rob Kozlowski November 12, 2009Frank E. Walsh Jr., a former board member at Tyco International Ltd., agreed to pay the state of New Jersey $5.6 million to settle a 2002 civil suit filed on behalf of the $68.2 billion New Jersey...
CalPERS president wants teeth in placement agent rules
By Randy Diamond November 11, 2009CalPERS President Rob Feckner called on his fellow board members to enact stronger rules to classify placement agents as lobbyists and tighten regulations on their behavior.Mr. Feckner’s...
Jury finds Bear Stearns hedge fund managers not guilty
By Christine Williamson November 10, 2009Ralph R. Cioffi, portfolio manager of two credit hedge funds managed for now-defunct Bear Stearns and Matthew M. Tannin, the funds' chief operating officer, today were found not guilty of misleading ...
Former hedge fund CFO Levy faces theft charge
By Christine Williamson November 10, 2009Ezra C. Levy, former CFO of Boston Provident, was arrested Nov. 10 and charged with stealing $1.3 million from the firm’s hedge funds.Mr. Levy was charged in U.S. District Court in New York ...
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