SEC Tackles Asset Transparency, Conflict of Interest At Credit Rating Agencies

The SEC is finalizing two new sets of rules today: one that would increase the transparency of the asset-backed securities that caused much grief for investors, including pension funds, during the financial crisis. The other set of rules would improve the reliability of the ratings issued by credit rating agencies. Pension funds and other institutional … Continue reading SEC Tackles Asset Transparency, Conflict of Interest At Credit Rating Agencies

Morgan Stanley Likely To Be Sued Over CalPERS Investment Losses

An SEC filing this week revealed that Morgan Stanley is anticipating a lawsuit from the California Attorney General stemming from massive investment losses sustained by CalPERS in 2007. CalPERS claims it lost over $199 million on those “toxic” real estate investments, which it bought from Morgan Stanley after the bank allegedly “misrepresented” the quality of … Continue reading Morgan Stanley Likely To Be Sued Over CalPERS Investment Losses


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