SEC

Pension funds come out in support of SEC maker-taker fee pilot program

Markets

Markets

CalPERS and the Ontario Teachers' Pension Plan are among asset owners that supported the SEC's proposed transaction fee pilot program.
Hellman & Friedman was 1 of 5 bidders vying for Financial Engines – SEC filing

Defined Contribution

Defined Contribution

Although Financial Engines has agreed to be acquired by Hellman & Friedman, four other suitors bid for the provider of managed accounts.
McKesson to terminate U.S. pension plan

PENSION FUNDS

PENSION FUNDS

McKesson Corp. will terminate its U.S. pension plan, the company disclosed in its 10-K filing with the SEC.
SEC proposes rule to ease ETF research for broker-dealers

REGULATIONS

REGULATIONS

The SEC proposed rules that would make it easier for brokers or dealers to publish research on mutual funds, ETFs and business development companies.
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.
Commentary: Greater transparency in the new ADV

INDUSTRY VOICES

INDUSTRY VOICES

New information provided in the amended Form ADV will provide investors valuable insight into their managers' businesses.
Chattanooga pension fund sues Wells Fargo for alleged fraud over revenue sharing

Pension Funds

Pension Funds

Chattanooga Fire and Police Pension Fund to file whistleblower complaint with the SEC and CFTC against Wells Fargo, alleging potential fraud and overcharging.
Premium Point Investments co-founder accused of inflating assets

Hedge Funds

Hedge Funds

The co-founder of Premium Point Investments, a portfolio manager at the hedge fund and a trader were charged with inflating the value of securities.
Visium will pay $10 million over former traders' misconduct

Hedge Funds

Hedge Funds

Visium Asset Management will pay more than $10 million to settle a U.S. regulator's allegations that it illegally profited from former traders' misconduct.
SEC's Michael Piwowar to resign

REGULATION

REGULATION

Michael S. Piwowar, a Republican member of the Securities and Exchange Commission, announced he will resign.
Supreme Court debates constitutionality of SEC's in-house judges

Courts

Courts

The Supreme Court heard arguments in a case challenging the SEC's use of in-house administrative judges that also has broader implications.
Commentary: Fiduciary duty yellow flags for proxy season

INDUSTRY VOICES

INDUSTRY VOICES

Investor fiduciaries need to re-evaluate existing policies and processes to ensure their proxy analyses and votes fully satisfy their fiduciary obligations.
SEC warns managers to be careful about client fees, expenses

Regulation

Regulation

Fund managers and investment advisers should pay closer attention to fee and expense practices, and disclosure to clients, the SEC said.
Clayton praises Treasury, industry participants' input for access pilot

TRADING

TRADING

The SEC's Jay Clayton praised assistance from industry participants in developing the access fee and other pilot proposals.
Commentary: SEC is proving it can be both cop and counselor

INDUSTRY VOICES

INDUSTRY VOICES

In just one week, the SEC showed just how much things have changed under Chairman Jay Clayton — and how much they've stayed the same.