The ethical pension sector was given a major boost when legal changes, requiring that trustees disclose their stance on ethical issues, came into force in July 2000.
Employees are to act in professional matters for each employer or client as faithful agents or trustees disclosing nothing of a proprietary or confidential nature concerning the business affairs or technical processes of any present or former client or employer without the necessary consent.
When Revlon learned about the negative evaluation of the offer, it rewrote the rules for the 401(k) plan to keep the trustee from disclosing the financial adviser's determination so that it could claim ignorance.
During the course of Parkinson's investigation, Robert disclosed a trustee shareholding in Metallum Holdings, which had an interest in Nimrod Resources.
In one case disclosed this week, the trustee, Irving H. Picard, asserts that some people at Citigroup were suspicious that there might be fraud, but reassured themselves with a different — if equally illegal — explanation for the consistently good returns Mr. Madoff reported.
"We have previously disclosed that the liquidating trustee may file such a claim against us and that we do not believe that we have any liability related to the spinoff of Guaranty Financial Group," Temple-Inland said.
Among the Ivy League universities, Brown and Cornell have disclosed five trustee-related investments.
But until a tip-off from a Yale faculty member prompted my report here in the Huffington Post, which in turn prompted The New York Times to ask Levin about it, the university hadn't disclosed its trustees' employment by Singapore's Government Investment Corporation and its Temasek fund.
They disclosed disturbing information unavailable even on trustee reports.
Those transactions, completely hidden from investors while Lehman was heading to disaster, were disclosed last year in a blistering report by Lehman's bankruptcy trustee.
