Washington

Lift heavy hand off interest rates

With the Federal Open Market Committee meeting coming June 14-15, a decision is looming on whether it will resume its small incremental steps toward raising the federal funds rate and encouraging...

May 30, 2016
SEC does the right thing

SEC does the right thing

In the shareholder voting at Chipotle Mexican Grill Inc. on May 11, a shareholder proposal trounced a management proposal on the same issue: proxy access. The management proposal received 23.6% of...

May 30, 2016
Trade allocation policies being scrutinized by SEC

Trade allocation policies being scrutinized by SEC

Large institutional money managers undergoing routine examinations from the Securities and Exchange Commission are now being asked to disclose their trade allocation policies.

May 30, 2016
Execs hope for less-burdensome non-discrimination rules

Execs hope for less-burdensome non-discrimination rules

As Internal Revenue Service officials grapple with how to prevent employers from providing lopsided retirement benefits that discriminate in favor of higher-paid employees, plan sponsor advocates are ...

May 30, 2016

Labor Department settles ESOP case with AIT Laboratories

AIT Laboratories will pay $3.47 million to restore alleged losses to the AIT Laboratories employee stock ownership plan, under an agreement with the Department of Labor approved Thursday in U.S....

May 26, 2016 | 04:07 pm
Citibank to pay $425 million to settle currency benchmark manipulation charges

Citibank to pay $425 million to settle currency benchmark manipulation charges

Citibank will pay a total of $425 million to settle CFTC charges that the bank manipulated three currency-valuation benchmarks.

May 25, 2016 | 03:20 pm
Senate rejects fiduciary rule; Obama vows to veto

Senate rejects fiduciary rule; Obama vows to veto

The Senate voted Tuesday to disapprove and nullify the new fiduciary rule released by the Department of Labor, by a vote of 56-41, along party lines.

May 24, 2016 | 05:31 pm
CFTC tightens cross-border swaps rules for foreign-based subsidiaries of U.S. firms

CFTC tightens cross-border swaps rules for foreign-based subsidiaries of U.S. firms

The Commodity Futures Trading Commission on Tuesday approved rules toughening restrictions on uncleared cross-border swaps by foreign-based subsidiaries of U.S. financial services firms.

May 24, 2016 | 02:26 pm
AFL-CIO seeks SEC probe of asset managers on Puerto Rico bond holdings

AFL-CIO seeks SEC probe of asset managers on Puerto Rico bond holdings

The AFL-CIO, the largest U.S. labor-union federation, is urging the Securities and Exchange Commission to investigate whether OppenheimerFunds Inc. and Franklin Templeton Resources adequately valued...

May 24, 2016 | 10:01 am
Central States will not resubmit application to reduce pension benefits

Central States will not resubmit application to reduce pension benefits

Trustees of the $17.8 billion Teamsters Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill., announced Thursday that they will not resubmit a benefit reduction application to the ...

May 19, 2016 | 05:21 pm
SEC plans to propose fiduciary rule next April

SEC plans to propose fiduciary rule next April

The Securities and Exchange Commission plans to propose rules for raising investment advice standards and authorizing non-governmental examinations of advisers next spring, according to its latest...

May 19, 2016 | 03:56 pm
Puerto Rico restructuring bill introduced in House

Puerto Rico restructuring bill introduced in House

Legislation allowing Puerto Rico to restructure more than $70 billion in bondholder debt was introduced in the House of Representatives late Wednesday.

May 19, 2016 | 03:46 pm
Fed sets the stage for June action

Fed sets the stage for June action

A hike in the federal funds rate at the June meeting of the Federal Open Market Committee is looking more likely, judging by the minutes of the April meeting released Wednesday.

May 18, 2016 | 04:12 pm
SEC enforcements focusing more on financial subsidiaries — report

SEC enforcements focusing more on financial subsidiaries — report

Financial services firms are more often the focus of Securities and Exchange Commission enforcement actions than their parent companies, said a report issued Tuesday by New York University School of...

May 17, 2016 | 03:22 pm

J.P. Morgan Asset, PIMCO sweet on company debt as Treasuries lag

J.P. Morgan Asset Management says U.S. corporate bonds are attractive and Japanese investors are gobbling them up. The PIMCO Total Return Fund is doubling the amount it’s allowed to invest in...

May 17, 2016 | 10:02 am