February 2021
12Feb

US. House Includes Pension Reform Plan in COVID-19 Relief Bill

The House Ways and Means Committee has included a pension reform provision in a COVID-19 relief bill that would create a special financial assistance program to help multiemployer pension plans and extend amortization periods for single-employer plans. Read also US. AIG to pay New York $12M for unlicensed pension risk transfer business The Butch Lewis Emergency Pension Plan Relief Act of 2021, which is included in the bill, would create a special financial assistance program under which cash payments would be...

February 12, 2021
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09Feb

Counter-Hegemonic Finance: The Gamestop Short Squeeze

By Usman W. Chohan The events that surrounded the short squeeze of various downtrodden stocks such as Gamestop (GME) allude to a counter-hegemonic financial effort, with small-scale investors pooling in to sabotage the short-positions of large Wall Street players such as hedge funds. This paper frames these events in terms of public reprisal for the 2008 Global Financial Crisis (GFC) and public contempt for insular financial private interest. The discussion suggests that such people-power initiatives, abetted by powerful elite...

February 9, 2021
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09Feb

Gana fuerza en el Congreso una propuesta para que el Gobierno abra una cuenta con $1,000 a todos los recién nacidos y la vaya enriqueciendo

Un proyecto de ley impulsado por el demócrata Cory Brooker en el Senado y la demócrata Ayanna Pressley en la Cámara de Representantes propone que el Gobierno federal cree una cuenta de ahorros con 1,000 dólares para toda persona que nazca en Estados Unidos. Los llamados baby bonds buscan disminuir la desigualdad económica y racial, y están ganando apoyo entre la mayoría demócrata en ambas cámaras del Congreso. Dependiendo de los ingresos de la familia, el Gobierno añadiría...

February 9, 2021
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09Feb

US. AIG to pay New York $12M for unlicensed pension risk transfer business

American International Group (AIG), the multinational finance and insurance corporation, owes the state of New York $12 million in penalties for insurance law violations stemming from its pension risk transfer (PRT) business. Deutsche Bank to pay $150M penalty for suspicious handling of Epstein accounts Linda A. Lacewell, Superintendent of New York’s Department of Financial Services (DFS), announced the penalty on Monday. She said an investigation from her department revealed that a subsidiary of AIG solicited and did insurance business in New...

February 9, 2021
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09Feb

US. Insurers Have Been Draining Funds from New Jersey’s Pensions for 15 Years

Insurance firms have been siphoning off money from New Jersey’s pension funds for the past 15 years thanks to a policy decision that shifted financial obligations for employee injuries to pension funds, according to an investigation by acting state Comptroller Kevin Walsh. A report on the investigation said that a 2006 policy adopted by the Division of Workers’ Compensation (DWC) encourages injured employees to accept continuing medical monitoring and coverage instead of cash settlements. The report said the approach, which...

February 9, 2021
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05Feb

EEUU. Gana fuerza en el Congreso una propuesta para que el Gobierno abra una cuenta con $1,000 a todos los recién nacidos y la vaya enriqueciendo

Un proyecto de ley impulsado por el demócrata Cory Brooker en el Senado y la demócrata Ayanna Pressley en la Cámara de Representantes propone que el Gobierno federal cree una cuenta de ahorros con 1,000 dólares para toda persona que nazca en Estados Unidos. Los llamados baby bonds buscan disminuir la desigualdad económica y racial, y están ganando apoyo entre la mayoría demócrata en ambas cámaras del Congreso. Dependiendo de los ingresos de la familia, el Gobierno añadiría 2,000 dólares...

February 5, 2021
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05Feb

Counter-Hegemonic Finance: The Gamestop Short Squeeze

By Usman W. Chohan The events that surrounded the short squeeze of various downtrodden stocks such as Gamestop (GME) allude to a counter-hegemonic financial effort, with small-scale investors pooling in to sabotage the short-positions of large Wall Street players such as hedge funds. This paper frames these events in terms of public reprisal for the 2008 Global Financial Crisis (GFC) and public contempt for insular financial private interest. The discussion suggests that such people-power initiatives, abetted by powerful elite...

February 5, 2021
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03Feb

US. GameStop frenzy has hedge fund managers rethinking next moves

Retail investors' frenzied attack on short sellers during the week of Jan. 25, which saw U.S. equity trading by volume hit a record high, is forcing some hedge funds to rethink their strategies and approaches to investing. Sources fear that generating alpha from short positions — and the wider hedge fund industry — may be damaged by the episode. Hedge funds may have to invest more in large-cap stocks rather than small cap, keep their positions better hidden from...

February 3, 2021
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03Feb

US. AIG to pay New York $12M for unlicensed pension risk transfer business

American International Group (AIG), the multinational finance and insurance corporation, owes the state of New York $12 million in penalties for insurance law violations stemming from its pension risk transfer (PRT) business. Linda A. Lacewell, Superintendent of New York’s Department of Financial Services (DFS), announced the penalty on Monday. She said an investigation from her department revealed that a subsidiary of AIG solicited and did insurance business in New York without a license. “A DFS license offers consumers peace...

February 3, 2021
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January 2021

29Jan

US. Pandemic Widens Retirement Planning Gender Gap

The pandemic has widened the gender gap for retirement planning, and women investors are less optimistic, more concerned and less prepared to protect assets than their male counterparts, according to a new survey. “Women are concerned about the impact of the COVID-19 pandemic on their finances and the resulting uncertainty can make planning for the future — and their retirement — more difficult,” Ann Bair, senior vice president of marketing for Nationwide Financial, said in a statement about the...

January 29, 2021
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