Washington

Congressman introduces bill that could help endowments avoid new tax

Endowments and Foundations

Endowments and Foundations

Endowments facing a new tax on investment income could avoid that if they commit more profits to middle-class students, under legislation introduced Tuesday.
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.
CFTC issues guidance for enhanced oversight of cryptocurrency futures trading

Trading

Trading

Markets trading cryptocurrency futures will be required to enhance their oversight, work closely with regulators and increase reporting.
Puerto Rico oversight board tweaks fiscal plan, keeps pension reforms

Pension Funds

Pension Funds

The Financial Oversight and Management Board for Puerto Rico said it is amending the fiscal plan submitted by Gov. Ricardo Rossello.
SOA projects 115 multiemployer plans to be insolvent in 20 years

PENSION FUNDS

PENSION FUNDS

An estimated 115 multiemployer plans covering roughly 1.4 million participants are likely to be insolvent within the next 20 years.
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.
Sen. Patty Murray questions changing PBGC director

Regulation

Regulation

Sen. Patty Murray is questioning President Donald Trump's decision to nominate Gordon Hartogensis for director of the PBGC.
Donald Trump nominates Gordon Hartogensis as new PBGC director

REGULATION

REGULATION

Gordon Hartogensis has been nominated by President Donald Trump to be director of the Pension Benefit Guaranty Corp.
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.
Commentary: Determining a proper level of ESG portfolio integration

OTHER VIEWS

OTHER VIEWS

The Labor Department is not outlawing ESG, but is telling fiduciaries not to be overzealous.
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.
Union pension plans welcome DOL guidance

ESG

ESG

Some ESG investors feel like they are stuck in a game of pingpong on ESG guidance, building trades union pension fund officials welcome it.
Tax reform could spell trouble for derisking
U.S. tax law changes could make LDI investing tougher by crimping issuance of long-duration corporate bonds.
DOL bulletin on ESG factor use puzzles investors

Regulation

Regulation

The Labor Department's recent attempt at clarifying guidance on ESG investing has some industry stakeholders scratching their heads.
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.