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Investment Wars: Taxi medallions trounce MSCI World Index
RIA NEWS JUL 23, 2010
Investment Wars: Taxi medallions trounce MSCI World Index

License for cabs in NYC up 347% over 20 years; average price now tops $800K

REGULATION AND LEGISLATION JUL 23, 2010
Finra probing Morgan Stanley, others over CDO sales: Source

A securities industry regulator investigating abuses in mortgage-linked investments has focused on the activities of Morgan Stanley, Barclays PLC and Credit Suisse Group AG, a person with direct knowledge of the matter said.

RIA NEWS JUL 22, 2010
Wells Fargo fund group mulls retirement income products

On the heels of completing the reorganization of its fund group, Wells Fargo Funds Management LLC is setting its sights on product development and is looking specifically at retirement income products.

REGULATION AND LEGISLATION JUL 22, 2010
Finra fines nearly doubled in '09

Review reveals internal marketing materials drew regulator's attention; this year, sales to seniors, private placements on the radar

INDEPENDENT BROKER DEALERS JUL 22, 2010
Penson buys Ridge clearing business for $35 million

The deal adds about 100 Ridge clients to Penson's base of 297 brokerage firms, making it the second largest correspondent clearing firm in the securities industry.

RIA NEWS JUL 22, 2010
Bond king Bill Gross suddenly talking up stocks

Bill Gross, who runs the world's biggest mutual fund, has a confession.

MUTUAL FUNDS JUL 22, 2010
Janus losing portfolio manager of $2.4B fund

Laurent Saltiel, manager of Janus Capital Group Inc.'s $2.44 billion Worldwide Fund, will leave the firm at the end of May.

REGULATION AND LEGISLATION JUL 22, 2010
Incite: Squawk Box Six cheated in court, deserve to be heard

How could a jury convict three ex-traders for selling, and three former executives of a day-trading firm for buying, real-time access to the firm's internal intercoms?

RIA NEWS JUL 22, 2010
Merrill Lynch 'squawk-box' brokers seek retrial, claim new evidence

A former broker at Merrill Lynch & Co. and Citigroup Inc. convicted of selling access to his brokerages' internal “squawk boxes” asked a judge to throw out his conviction and others because prosecutors hid evidence of their innocence.

RIA NEWS JUL 21, 2010
Morgan Stanley earnings beat estimates