Regulators discovered lapses in the company’s long-term-care insurance claims and complaints processing.
Hedge funds gained ground in April, rebounding from a rough March, according to industry indicators.
Fortress Investment Group reported a first-quarter loss of $68.9 million compared to a gain of $62.1 million a year ago.
Banks that sold insurance were more profitable than those that didn’t in 2007, according to Bank Insurance Market Research.
Marsh & McLennan Cos. posted a loss of $210 million in thefirst quarter of 2008, $268 million a year ago.
This is the second time Jeff Auld has left as the head of an independent-contractor B-D in less than two years.
Reeling from its mortgage-related problems, UBS AG posted a net loss of $10.97 billion for the first quarter.
A whopping 79% of Americans believe that the United States is in a recession, a poll released today suggests.
Target date mutual funds, long criticized for being too conservative to meet their goals, are now being taken to task for taking on too much risk.
In a move clearly aimed at luring breakaway brokers, Fidelity Investments is about to take the wraps off a program intended for brokers who are dually registered as investment advisers.
