The Louisiana Firefighters’ Retirement System and other public pension funds alleged that Northern Trust breached its fiduciary duties and its contract related to the funds’ investment in the securities lending program.
December 14, 2010 (PLANSPONSOR.com) - The US Senate's Special Committee on Aging has launched an investigation into the securities lending practices of pension funds and is considering an official hearing on the matter, according to a new report.
October 28, 2009 (PLANSPONSOR.com) - J.P. Morgan
Worldwide Securities Services has launched an upgraded
securities lending dashboard that allows clients to monitor
key aspects of their securities lending activities in a
December 9, 2008 (PLANSPONSOR.com) - The Pension
Benefit Guaranty Corporation (PBGC) has issued a Request for
Information (RFI) to assess the viability of expanding its
securities lending program to qualified sources in the
commercial and public sector market.
December 5, 2008 (PLANSPONSOR.com) - The Illinois
Teachers' Retirement System (TRS) Board of Trustees selected
State Street Corporation to serve as the System's new master
trustee/custodian and securities lending provider, subject to
December 4, 2008 (PLANSPONSOR.com) - FedEx Corp. is
accusing Northern Trust Company (NTC) and Northern Trust
Investments N.A. (NTI) with breaching their fiduciary duties
under the Employee Retirement Income Security Act (ERISA) by
investing a large percentage of its pension plan assets in
funds substantially involved in securities lending.
October 28, 2008 (PLANSPONSOR.com) - The fiduciaries
of BP Corp. North America Inc.'s retirement plans have
accused Northern Trust Co. of breaching their fiduciary
duties by not disclosing substantial securities lending
October 14, 2008 (PLANSPONSOR.com) - State Street
Global Advisors (SSgA) has informed its securities lending
clients that they are now barred from pulling out their money
all at once from the firm's securities lending
October 30, 2006 (PLANSPONSOR.com) - The Department
of Labor's Employee Benefits Security Administration has
adopted a final class exemption expanding the opportunities
for securities lending between pension plans, banks and