Three public US pension plans have launched a class action against six major investment banks for allegedly colluding to keep securities lending "opaque" and block competition in order to control the market.
The class action, filed on 16 August, claims that the prime brokers, which provide services to hedge funds, took "collective action" to boycott trading platforms that tried to enter the "antiquated...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
