Lazard Ltd. Today posted a 4.9% increase in first quarter revenues on growing asset management fee income and record inflows, but fell short of analysts expectations.
Despite a solid showing in April, hedge funds still fell well short of the returns of the domestic equity markets, according to the latest data from Greenwich Alternative Investments LLC in Greenwich, Conn.
JPMorgan Chase & Co. has agreed to stop making payments to more than 100 college alumni associations that allowed the company to market its consolidation loans directly to graduates, according to the Wall Street Journal.
The National Association of Securities Dealers and state regulators in North Dakota, Iowa and Minnesota signed a joint statement supporting a new rule to require that insurance companies and agencies recommend only suitable annuity products to their customers.
Advisers need to be educated about college savings plans in order to better serve ther clients. That was one of the messages delievered at a confernce on colleges savings this morning sponsered by AllianceBernstein Investments.
Marsh & McLennan Cos. today reported that first-quarter income declined by 36% to $268 million, compared to $416 million for the same period a year ago.
NASD announced today that it has fined two Fidelity Investments broker-dealers $400,000 for preparing and distributing misleading sales literature promoting plans that were sold primarily to U.S. military personnel.
Charles Schwab Investment Management has lowered its minimum initial investment in mutual funds to $100 as part of a sweeping effort to capture younger investors.
The National Futures Association has permanently barred former associated person Adam Leon from NFA membership.
Citigroup Inc. has agreed to pay $200,000 to settle charges with the Securities and Exchange Commission regarding one of its brokerage units that manipulated auctions involving municipal and corporate bonds.
