Legal

The swaps, tied to pension obligation bonds issued in 2005 and 2006, were designed to protect against rising interest rates by requiring the banks to pay the city if rates rose above a certain level.

A 2-1 majority of the U.S. Court of Appeals in St. Louis ruled Fidelity had no obligation to recapture for plan participants $1.7 million in overnight float income.

The Retirement for All CT Senate bill passed the joint Committee on Labor & Public Employees one week after dozens of residents and organizations packed a public hearing to testify in support of S.B. 249.

High fees may have grabbed the headlines, but Ayres/Curtis true intention is something only a good lawyer will appreciate.

The union said Treasurer Janet Cowell is failing to disclose all direct and indirect placement fees, asset fees, performance fees and any other management fees in the $86 billion pension fund.

Axa Equitable changed the investment strategy for some variable annuities sold earlier, limiting potential returns for customers without providing adequate notice to regulators, the New York Department of Financial Services said/