NEW YORK — As the May 14 deadline looms for the Securities and Exchange Commission to appeal the overturning of the broker-dealer exemption rule, supporters and opponents of the rule have been busy making their case in the court of public opinion.
No matter how you are registered and regulated, you can’t afford to turn a blind eye to the breaches of your clients who are fiduciaries — investment committees of retirement plans, foundations and endowments, and trustees of personal trusts.
The Women’s Retirement Security Act of 2007 was introduced in the Senate yesterday In an effort to help women save for retirement.
The end of the broker-dealer exemption rule will create a great opportunity for registered investment advisers to build out their firms, said J. Thomas Bradley, president of TD Ameritrade Institutional, speaking in Chicago today.
A.G. Edwards & Sons Inc. of St. Louis yesterday settled with the Securities and Exchange Commission over allegations of mutual fund market timing. The firm agreed to pay $2.4 million in disgorgement and $1.5 million in penalties.
New York-based Lehman Brothers has appointed Roger Nagioff as global head of fixed income, based in London, according to published reports.
The National Association of Personal Financial Advisors has launched a new benchmarking tool that will help advisers measure their practices against those of fellow NAPFA members.
Wachovia Securities LLC is launching a pilot version of a retirement income management account, Robert Vorlop, director of investment products, told attendees of the Money Management Institute's annual meeting in Washington.
Wealthy investors are less likely to be loyal to a brokerage firm than they are to an adviser with whom they have developed a strong relationship, according to a national study of 4,000 affluent Americans released today by Cambridge, Mass.-based market research firm Cogent Research LLC.
Goldman Sachs Asset Management has introductioned two new fund-of-funds, the Goldman Sachs Income Strategies Portfolio (GXIAX) and the Goldman Sachs Satellite Strategies Portfolio (GXSAX), both of which will be managed by its by GSAM's Quantitative Strategies Group.
Fidelity Investments today announced the offering of three new enhanced index funds: Fidelity Large Cap Value Enhanced Index Fund, Fidelity Large Cap Core Enhanced Index Fund and Fidelity Large Cap Growth Enhanced Index Fund.
Merrill Lynch & Co. Inc. will buy back as much as $6 billion in shares of common stock over time, in an effort to return capital building up on its balance sheet to investors, the company announced today.
Morgan Stanley has announced that David H. Sidwell, executive vice president and chief financial officer, will retire from the company at the end of the year.
Morgan Stanley Investment Management has launched the Morgan Stanley Emerging Markets Domestic Debt Fund Inc., the first U.S. registered closed-end fund to invest principally in emerging markets sovereign debt denominated in the local currency of the issuer.
Thousands of protesters – some bearing signs asking “Is your Fidelity 401(k) funding genocide?” -- gathered in Boston’s Government Center Sunday to protest Fidelity’s investment ties to Sudan.
The fight over the pending consolidation of the regulatory units of the New York Stock Exchange and NASD is proceeding apace on two fronts: in court and at the Securities and Exchange Commission.
Congress is beginning to refocus its retirement savings policy-making efforts on finding ways to help Americans of modest means save for retirement, as well as trying to help people get better returns from their retirement savings plans.
A high-profile financial adviser who hosts a weekly financial-advice radio show has lost a $314,000 arbitration claim that focused on his failure to deliver promised investment management.
