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SECURITIES AND EXCHANGE COMMISSION
SEC gives shareholders more say over board make-up
Global Pensions | 26 Aug 2010
US – The Securities and Exchange Commission yesterday approved new proxy rules that give shareholders more say over who sits on corporate boards.
US financial reforms passed by Senate; Volcker rule enacted - UPDATED
US - The US Senate has approved the largest overhaul of financial regulation since the Great Depression, aimed at averting a repeat of the recent credit crisis.
SEC accuses Schroders portfolio manager of fraud
US – The Securities and Exchange Commission has accused a former Schroders Investment Management North America (SIMNA) portfolio manager of using confidential information to encourage his family members to offload their shares in a fund he managed.
OTHER SECURITIES AND EXCHANGE COMMISSION ARTICLES
SEC’s New York head focuses on sales to institutional investors
US – George Canellos, the head of the Securities and Exchange Commission’s Manhattan office, said he is pushing his staff to scrutinize products normally sold to institutional investors after the financial crisis showed that even sophisticated buyers need additional protection.
Investors highlight key measures in Dodd finance reform bill
US - Some of the largest pension fund investors and corporate governance experts in the US have urged senators not to undermine key provisions in a bill proposing sweeping reform of the US financial system.
Short-selling disclosure proposals raise eyebrows
EUROPE – Hedge fund trade bodies have reacted with some dismay to the Committee of European Securities Regulators’ (CESR) proposal for a pan-European disclosure regime for short selling.
SWFs shift to overseas investments
GLOBAL – Assets under management of sovereign wealth funds (SWFs) fell by 3% in 2009 to around US$3.8trn but funds are looking to place a greater number of those assets outside their home country, a report by International Financial Services London (IFSL) revealed.
Kraft to freeze pensions from 2019
US – Food giant Kraft has announced it will freeze its US pension plans for current salaried and non-union hourly employees from December 31, 2019, according to Securities and Exchange Commission filings.
SEC softens stance on placement agent crackdown
US – US regulators seem to have softened their stance on placement agents who are hired by investment managers to win contracts from public pension funds.
State Street settles with SEC
US – State Street Corp. has reached a settlement with the SEC and Massachusetts authorities that results in the firm ultimately paying US$663m to investors who lost money in active fixed income strategies run by State Street Global Advisors.
Securities lending - the global perspective
In collaboration with Global Pensions, Data Explorers Consulting brings you the latest global trends and analysis on securities lending
Hermes lures Fortis global equities team
UK – Hermes Fund Managers has hired a six strong global equities team from Fortis.
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Investors losing out from high FX fees - Updated
Funds sue over mortgage pass-through certificates
Falling markets lead to summer of discontent
FASB updates multiemployer transparency guidance
Hewitt completes EnnisKnupp acquisition