The absence of shareholder voting rights in Snap Inc.'s recent IPO has large institutional investors and asset managers gearing up for a battle they hope will prevent a war from erupting among future corporate issuers.
Holy Cross Hospital has agreed to pay $4 million to participants of a defined benefit plan being terminated to settle a lawsuit challenging its church-plan status and to distribute $5.1 million in remaining plan assets owed to nearly 2,000 participants.
Diversity on company boards, trustee boards and within the money management industry has become a focus for institutional investors, and money managers themselves, as the improved decision-making and returns it encourages become increasingly evident.
So far, not so good. Early reviews of the Securities and Exchange Commission's small-cap equity tick-size pilot program have been generally negative in regard to its impact on trading costs and investment returns.
The Department of Labor's secure choice rule undermines ERISA protections for participants in those plans, which are aimed at the approximately 55 million private-sector employees without access to a retirement saving account.