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.
Deutsche Bank reported $12.9 billion in net revenues for the first quarter, a 20% gain from the same period in 2006, thanks to record sales in its corporate and investment bank division.
BOSTON — The Charles Schwab Corp., T. Rowe Price Group Inc. and OppenheimerFunds Inc. are among firms exploring ways to add a guarantee to life cycle funds — providing investors with an income stream in retirement.
The chairman of the Senate Finance Committee said this morning that he would like to abolish the alternative minimum tax, but failing that, he expects that legislation delaying its impact on middle-income taxpayers will be approved by Congress this year.
Liberty Mutual Group in Boston today announced that it will acquire all outstanding shares of common stock of Ohio Casualty Corp. of Fairfield, Ohio for $2.7 billion in cash, or $44 per share.
INVEST Financial Corp. of Tampa, Fla., this morning said it has acquired the contracts of nearly 400 bank-based registered representatives of PFIC Securities Corp. of Franklin, Tenn., a subsidiary of Morgan Keegan & Co. Inc. of Memphis.
Mutual fund companies are starting to slow the pace at which they hire legal and compliance officers, according to several industry experts. With the mutual fund scandals receding into the past, such a trend was inevitable, they said.
MetLife Inc., the largest U.S. life insurer by assets, is reaping the benefits from its growing international business.
Amid protest from its advisers that they are being asked to assume too much liability, TD Ameritrade Institutional is going back to the drawing board with its new service agreement.
