NY Pension Funds Urge SEC to Reverse New Policy Allowing Forced Arbitration of Fraud Claims
As reported in Bloomberg News (subscription required), New York’s city and state pension funds, along with major institutional investors including the Chicago Teachers’ Pension Fund and Denver Employees Retirement Plan, are urging the U.S. Securities and Exchange Commission (SEC) to reverse a recent policy permitting companies to push shareholder fraud claims into private arbitration.