US - The New York City Teachers' Retirement System (NYCTRS) has become the fourth New York City pension fund to ban the use of placement agents.
The New York City Employees' Retirement System, Fire Department Pension Fund, and Police Pension Fund have previously passed similar resolutions. (Globalpensions.com, May 18, 2009)
The fifth and remaining NYC pension fund - the Board of Education Retirement System - is expected to vote on the matter today. The five NYC pension funds have combined assets of more than US$77.1bn as of March 31. TRS held $26.8bn in assets as of that date.
NY attorney general Andrew Cuomo said: "The public pension fund industry must rid itself of pay-to-play and other unethical practices. Hopefully, the NYSTRS announcement today will serve as another building block in our effort to promote needed reforms like banning the use of placement agents and eliminating campaign contributions to those who make or influence pension fund investment decisions."
Here it is... The video of all the highlights from last night's UK Pensions Awards.
Here they are...all the pictures from the UK Pensions Awards 2019.
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.