Finma fines Coutts €6m over 1MDB transactions
The Swiss Financial Market Supervisory Authority on Thursday fined Coutts Sfr6.5m (€6.1m), equivalent to the unlawful profits earned by the UK private bank from transactions associated with Malaysian sovereign wealth fund 1Malaysia Development. (Independent)
Calstrs lowers investment target to 7%
California State Teachers’ Retirement System on Wednesday voted to drop its investment target to 7% from a previous level of 7.5%. The move by Calstrs is more aggressive than a recommendation made last week by external consultant Milliman, which suggested a reduction to 7.25. (WSJ)
