Courts/legal

Schaus leaving PIMCO

Money Management

Money Management

Stacy Schaus will retire as executive vice president and defined contribution practice leader at PIMCO effective Nov. 21
Lloyds ruling could force restructuring of buy-in deals – Aon

Pension Funds

Pension Funds

Risk transfer deals worth 50 billion might need to be restructured following a U.K. High Court ruling on guaranteed minimum pensions.
Unions sue to start Puerto Rico defined contribution accounts, with interest

Courts

Courts

Two unions representing Puerto Rico teachers and public employees sued the government claiming new DC accounts are being mismanaged.
CFTC hit enforcement records in fiscal 2018, enforcement director says

Washington

Washington

Enforcement by the U.S. Commodity Futures Trading Commission hit records in the past fiscal year, including market manipulation cases.
Snap says DOJ and SEC are investigating IPO disclosures

Washington

Washington

Snap said the U.S. Justice Department and SEC are looking into allegations it misled investors ahead of its IPO last year.
SEC concludes Wellington Management investigation – sources

Washington

Washington

The SEC concluded its investigation into Wellington Management.
Wells Fargo pays $43 million in settlement of 2 suits

Courts

Courts

Wells Fargo Bank will pay a total of $43 million to settle two class-action lawsuits over the bank's role as trustee of RMBS trusts.
Goldman shares tumble as 1MDB pressure mounts

Money Management

Money Management

Goldman Sachs Group's shares hit the lowest in almost two years Monday.
The SEC is the beat cop that investors need

EDITORIAL

EDITORIAL

The SEC has continued to work to protect investors from those who have hurt investors despite the Trump administration reducing regulations.
Justice Department sues UBS claiming residential MBS fraud

Courts

Courts

UBS is facing federal charges that it defrauded investors in its residential mortgage-backed securities strategies.
Birmingham fund sues Ryanair claiming securities law violations

Courts

Courts

A Birmingham pension fund filed a lawsuit against Ryanair, claiming the carrier failed to disclose its anti-employee practices affected earnings.
 Wells Fargo is said to weigh sale of retirement-plan unit

Money Management

Money Management

Wells Fargo & Co. is considering a sale of its retirement-plan services business, according to people familiar with the matter.
Dallas Police & Fire sues Buck over DROP administration, funding issues

Courts

Courts

Dallas Police & Fire Pension System sued Buck Consultants, claiming the firm failed to provide proper counsel about the DROP program.
Citibank settles with SEC over ADR practices as part of ongoing investigation

Regulatory

Regulatory

Citibank will pay $38.7 million to settle charges that it improperly handled U.S.-listed shares of international companies.
Jackson National Life Insurance to pay $4.5 million in ERISA case

COURTS

COURTS

Jackson National Life Insurance agreed to pay $4.5 million to settle claims by participants in the firm's 401(k) plan over ERISA issues.