Washington

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.
House passes SIFI reform bill

Legislation -

Legislation -

The House passed a bill that would give non-bank financial firms more say in how FSOC designates systemically important financial institutions.
Aon: U.S. corporate pension plan buyout volume to hold steady at about $25 billion in 2018

PENSION RISK TRANSFER -

PENSION RISK TRANSFER -

Aon expects U.S. corporate pension plan buyout volume to total about $25 billion in 2018, similar to the previous year's total.
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.
Fed members say path for future rate hikes will be 'slightly steeper,' minutes show

Markets -

Markets -

A strengthening economy and expectations of upward movement on inflation convinced members of the FOMC to unanimously vote to raise interest rates on March 21.
Pressroom workers' pension fund applies for MPRA benefit reductions

Pension Funds -

Pension Funds -

Pressroom Unions' Pension Trust Fund applied for permission to reduce benefits to remain solvent.
Clayton says SEC to hold roundtables on market structure, investor data access

Regulation -

Regulation -

The Securities and Exchange Commission will hold staff roundtables starting later this month on market structure issues.
Could China target the U.S. crude trade?
In the trailing 12-month period ended Jan. 31, U.S. producers exported 2.3 billion barrels of crude oil and petroleum products, up from 1.9 billion during the prior 12-month period.
Kentucky governor vetoes pension bill allowing agencies to withdraw from state plan

Legislation -

Legislation -

Kentucky governor vetoed a bill that would have phased in increased pension contributions and given agencies a chance to withdraw from the state plan.
Puerto Rico governor's latest plan still leaves out pension reforms

Pension Funds -

Pension Funds -

Puerto Rico Gov. Ricardo Rossello submitted a revised fiscal plan that still refuses to consider pension benefit cuts and more shifting to DC plans.
Money managers see emerging markets benefiting from trade war

Markets -

Markets -

Escalating trade threats between the U.S. and China are creating opportunities to buy emerging market assets.
John C. Williams named president and CEO of New York Fed

Regulation -

Regulation -

John C. Williams was named president and CEO of the Federal Reserve Bank of New York.
PBGC encourages new approaches to multiemployer withdrawal liability

Washington -

Washington -

The PBGC is issuing new guidance on multiemployer withdrawal liability calculations.
Puerto Rico governor rejects board's pension benefit cuts

PENSION FUNDS -

PENSION FUNDS -

Puerto Rico's governor told a federal oversight board he would not agree to its demand for 10% pension benefit cuts and other reforms.
Loosened rules at odds with efforts to cut loans, hardship withdrawals

DEFINED CONTRIBUTION -

DEFINED CONTRIBUTION -

Plan executives are working hard to educate participants on the impact that plan loans and hardship withdrawals have on retirement savings.