Hedge fund manager Phillip Goldstein, who has been accused of marketing alternative-class investments to a non-qualified investor through his firm’s website, is crying foul by drawing attention to what he described as a “sting operation” aimed at him and his company.
Baby boomers who are rich in real estate now can get cash out of their homes without taking on debt or making a payment, but at least one competitor questions whether the idea is a Faustian bargain.
BOSTON — Just because the Enron Corp. and market-timing scandals have led to greater disclosure requirements doesn’t mean that some mutual fund companies aren’t still burying some doozies in their regulatory filings, according to Russel Kinnel, director of mutual fund research for Morningstar Inc.
PHILADELPHIA — When it comes to new indexes, those that eschew weightings based on market capitalization are all the rage.
Regulators are backing off their aggressive pursuit of B share cases. In the clearest indication yet that enforcers have changed their tune, the SEC late last month dropped a prominent B share case against former Prudential Securities Inc. broker Robert Ostrowski.
WASHINGTON — Be careful what you wish for with regard to cost basis reporting, as it might cause a headache of colossal proportions.
In an effort to prevent top brokers from bolting, wirehouses quietly are backing down from their tough stance against allowing advisers to act as fiduciaries to employee retirement plans.
SAN FRANCISCO — The biggest software company in the world may be forcing financial advisers to purchase expensive hardware in the wake of its recent upgrade.
When it comes to Putnam Investments, it is the performance — not the parent — that matters, financial advisers say.
A congressman who raised eyebrows last month when he seemed to imply that annuities are the answer to the need for lifetime retirement income claims he was misunderstood.
