Washington

Senate passes tax bill; focus on House differences is next

LEGISLATION -

LEGISLATION -

Stark differences exist between the Senate and House versions of tax reform, including taxing public pension funds' investment income.
Rep. Richard Neal introduces two workplace retirement savings bills

Legislation -

Legislation -

Two new bills would require most employers to offer a defined contribution plan and simplify some retirement savings rules.
U.S. reverses position on SEC administrative law judges in Supreme Court brief

Courts -

Courts -

The U.S. solicitor general asked the Supreme Court to address the legal status of administrative law judges at the SEC.
Trump nominates economics professor Marvin Goodfriend to Federal Reserve

Washington -

Washington -

Economics professor Marvin Goodfriend was nominated to the Federal Reserve by President Donald Trump to serve through January 2030.
House committee hears PBGC multiemployer program issues

Pension Funds -

Pension Funds -

The Pension Benefit Guaranty Corp.'s multiemployer program "is in dire straits and getting worse," said Director W. Thomas Reeder Jr.
Avaya to pay PBGC $340 million as part of restructuring agreement

Pension Funds -

Pension Funds -

Avaya Inc. will give the PBGC $340 million and 5.5% of shares as part of a Chapter 11 reorganization plan approved Tuesday.
Commentary: The 'internet' of stocks and bonds

INDUSTRY VOICES -

INDUSTRY VOICES -

Technology is changing the way economic health should be measured and, accordingly, the way investors position themselves.
Senate Budget Committee advances tax reform bill

Legislation -

Legislation -

The Senate Budget Committee approved the Republican tax reform bill on Tuesday along party lines.
SEC must make enforcement a real priority

EDITORIAL -

EDITORIAL -

The markets need an attentive and active police force prowling the byways to ensure securities laws are obeyed and investors are protected.
Funds fighting effort to add UBIT measure

LEGISLATION -

LEGISLATION -

As Congressional Republicans rush to pass tax reform, public pension plan officials are determined to see one new idea not make it into law.
DOL delays fiduciary rule until July 2019

Regulation -

Regulation -

Key provisions of the fiduciary rule will be extended for 18 months, the Department of Labor announced Monday.
CFTC enforcement actions down significantly from previous fiscal year

Regulation -

Regulation -

The Commodity Futures Trading Commission received $412.7 million in penalties from 49 enforcement actions in the latest fiscal year ended June 30.

TRADING -

TRADING -

SEC maker-taker pilot program seen as more likely as rebate opponents grow.
First Bankers Trust Services to pay $15.75 million to settle 3 ESOP cases with DOL

Regulation -

Regulation -

First Bankers Trust Services agreed to pay $15.75 million to three ESOPs to settle DOL charges that it approved improper stock valuations.
SEC hack is said likely to involve Eastern European crooks

Cybersecurity -

Cybersecurity -

The hack of the U.S. Securities and Exchange Commission's corporate-filing database likely involved Eastern European criminals.