Courts/legal

Singapore bourse sued by India exchange in futures dispute

Markets

Markets

The National Stock Exchange of India sued Singapore Exchange in a Mumbai court.
5th Circuit denies states' second attempt to defend DOL fiduciary rule

Courts

Courts

The 5th U.S. Circuit Court of Appeals denied Tuesday another effort by attorneys general from California, New York and Oregon to defend the DOL's fiduciary rule.
Lawyer representing fired TCW manager says firm is seeking to keep personal information secret

Courts

Courts

TCW Group and the other defendants in a lawsuit brought by former manager Sara Tirschwell are seeking to have personal information kept secret.
Najib queried on 1MDB as task force seeks to recover funds

International

International

The Malaysian Anti-Corruption Commission questioned former Prime Minister Najib Razak over 1MDB, as a special task force hones in on recovering assets.
University of Rochester sued over alleged excessive administrative fees in 403(b) plan

Courts

Courts

A participant in University of Rochester 403(b) sued the university, alleging it offered a plan that charged "grossly excessive" fees.
FirstGroup, Aon Hewitt sued over changes to DC plan investment options

Courts

Courts

Participants in a DC plan offered by FirstGroup America have sued the firm and Aon Hewitt Investment Consulting alleging ERISA violations.
States trying to save DOL fiduciary rule appeal rejection of effort to intervene

Courts

Courts

Three states trying to save the Labor Department's fiduciary rule are appealing a decision by a federal court to deny their attempt to intervene in the case.
Boston pension fund sues banks for rigging market for Mexican government bonds

Courts

Courts

More than a half-dozen banks were sued by the Boston Retirement System, which alleged they rigged the market for Mexican government bonds for more than a decade.
Philips North America agrees to pay $17 million, make 401(k) reforms to settle fiduciary breach case

Courts

Courts

Philips North America agreed to a preliminary settlement of a class-action lawsuit alleging fiduciary breaches and agreed to pay $17 million.
N.Y. funds win co-lead plaintiff status in Wynn Resorts suit

Courts

Courts

New York State Common Retirement Fund the New York City Retirement Systems were designated as co-lead plaintiffs in a lawsuit against Wynn Resorts.
Puerto Rico oversight board rejects bondholder agreement

INVESTING/PORTFOLIO STRATEGIES

INVESTING/PORTFOLIO STRATEGIES

A repayment agreement announced Monday by two major groups of Puerto Rico bondholders was rejected by the federal oversight board.
No special treatment for ESG investments

EDITORIAL

EDITORIAL

The Labor Department's recent bulletin reiterating its policy on ESG factors is a reminder that fiduciaries must weigh ESG-related investments as carefully as any other.
Puerto Rico in violation of fiscal plan, board says

ECONOMY

ECONOMY

Puerto Rico's fiscal year 2019 budget does not comply with the new fiscal plan certified by the Financial Oversight and Management Board.
Royal Bank of Scotland agrees to pay $4.9 billion to settle MBS claims

COURTS

COURTS

RBS expects to pay $4.9 billion to settle Justice Department charges that it sold bad mortgage-backed securities ahead of the financial crisis.
Tocqueville analyst claims gender bias cost her a promotion

COURTS

COURTS

A Tocqueville Asset Management investment analyst sued the firm claiming she was denied a promotion because of her gender and threatened with termination when she complained.