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Saturday, November 7, 2009
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NEWS
Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report.
State Street Corp. will pay $89.75 million to settle a class-action lawsuit with a group of employee benefit plans invested in certain active fixed-income strategies managed by its SSgA unit, confirmed Arlene Roberts, State Street spokeswoman.
Focus Financial Partners LLC, which calls itself the largest partnership of wealth management firms in the world, is securing a new capital infusion to help it service outstanding bank debt and continue its business of acquiring stakes in large registered-investment-advisory firms.
Around 70% of equity mutual funds increased their expense ratios during the worst of the financial crisis, according to a study released today by Lipper Inc.
An arbitration panel has awarded a former broker at Allegiant Securities LLC $100,000 in a case that arbitrators said involved a forged letter purporting to be from the Financial Industry Regulatory Authority Inc.
CashEdge Inc. is now making its AllData Advisor account aggregation service available to financial advisers via a self-service online subscription.
Investment Insights
Shared-trust fund offers easy way to roll up smaller accounts
Most financial advisers can relate to the challenges of handling smaller accounts that are inherited from the relatives of existing clients, or are in the form of small “orphaned” retirement accounts.
Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday.
Hedge fund and private equity firm The Blackstone Group LP on Friday posted a narrower loss for the third quarter, as its private equity holdings gained value and its real estate investments stabilized.
Over the past couple of months a number of broker-dealers have been asked a new question by the Financial Industry Regulatory Authority: How do you vet your cleaning crews?
“This was the...
A Virginia man will spend more than seven years in prison for running a Ponzi scheme that bilked more than $5 million from more than 30 investors.
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
The Florida agency that manages $132 billion in pension and local government investments is under investigation by the Securities and Exchange Commission.
Breaking News
Jobless rate tops 10% for first time since '83
The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can't find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.
A former hedge fund manager arrested earlier this year has been indicted on federal charges he participated in a $7 million insider trading scam.
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