Allianz SE, one of the world’s largest investors, wants private-equity firms to standardize how they report performance and fees, throwing its weight behind efforts to improve transparency and reduce the risk of fraud in the fast-growing $4.1 trillion industry.
Pennsylvania Treasurer Joe Torsella announced the recent donation of approximately $25,000 worth of physical property held in the Bureau of Unclaimed Property vault to Central Pennsylvania non-profits.
Treasurer Joe Torsella celebrated the fifth anniversary of the passage of the national Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE). This legislation, sponsored by Pennsylvania’s U.S. Senator Bob Casey, paved the way for states to create ABLE programs. ABLE programs give people with disabilities access to savings options, without impacting eligibility for essential federal benefits.
What is private equity and why are Pa. lawmakers concerned about the tens of millions of dollars of your money tied up in it?
Private equity has become a prime punching bag on the presidential campaign trail when candidates are talking income inequality or trying to score political points.
World’s biggest banks paying $386 million to settle allegations of price-fixing Fannie Mae, Freddie Mac bonds
Sixteen of the world’s biggest financial institutions will pay a total of $386.5 million to settle claims that the banks conspired to fix the prices of bonds issued by Fannie Mae and Freddie Mac over a seven-year period.
Pennsylvania Treasurer Joe Torsella last month told the world he’d pulled the state’s money — or at least the slice he oversees — “out of all so-called hedge-fund investments, resulting in [over] $14 million in annual fee saving.”