Many mutual fund trustees would like to repeal the Securities and Exchange Commission's 12(b)-1 regulation that allows mutual funds to use fund assets to pay for marketing, a Washington lawyer who represents mutual funds reports.
The subprime-mortgage meltdown, which has triggered a larger meltdown throughout the credit markets, is the latest example of grand-scale faulty logic and short-term thinking.
German insurer Allianz SE, saw third-quarter net profits soar 21%, reaching 1.92 billion euros ($2.81 billion).
Morgan Stanley CEO John J. Mack has identified Zoe Cruz, a co-president, as the leading candidate to succeed him.
The House passed a one-year reprieve from the alternative minumum tax for an estimated 23 million taxpayers.
J. Andrew Kalbaugh is the new chief executive of Mutual Service Corp. of West Palm Beach, Fla.
The IRS could miss its early season filing peak if Congress waits until December to complete its tax bill.
An increase in exports helped push the U.S. trade deficit for September down to $56.5 billion.
Consumer confidence fell this month to the lowest level in more than two years, according to the RBC Cash Index.
Securities firms should accept fiduciary responsibility in advising retail clients, said Citi's Sallie Krawcheck.
