Former WAMCO CIO Charged by SEC with Fraud
Eleven Republican attorneys general recently filed a lawsuit against major asset managers, including BlackRock, State Street, and Vanguard. The lawsuit, led by Texas, alleges that these asset managers have been negatively affecting coal companies through their environmental, social, and governance (ESG) investment strategies.
This legal action highlights the ongoing debate surrounding ESG investing and its impact on the broader market. These 11 states are taking a stand against what they perceive as detrimental effects on coal companies due to ESG considerations in investment decisions.
In a separate development, Great Gray, a financial services firm, has reached out to senators to advocate for allowing 403(b) plans to utilize collective investment trusts (CITs). This move could potentially open up new investment opportunities for participants in these retirement plans.
On a different note, there has been a growing interest in mapping state retirement programs to better understand the landscape of retirement planning across different states. By examining the different programs available, stakeholders can gain insights into how states are approaching retirement savings and security for their residents.
As the financial industry continues to evolve, it’s essential to stay informed about these developments and understand the implications for investors and retirement savers. Keeping up with the latest news and trends in finance and securities is crucial for making informed decisions about investment strategies and retirement planning.
