The SEC claims the unregistered investment adviser promised clients he'd put their money into safe investments. Instead, he allegedly poured the cash into start-up coffee shops, real estate, and his own pocket.
Bank of America would pay $150 million and strengthen its corporate governance and disclosure practices under a proposed settlement filed today with the U.S. District Court for the Southern District of New York by the Securities and Exchange Commission.
An adviser who oversaw the wealth of a well-known Boston family allegedly led a "double life" and stole $57 million to buy several airplanes, houses, and timeshares for his family and his mistress, authorities said.
The Treasury secretary says the administration wants a financial overhaul bill that provides strong consumer protection and restraints on risk taking by large banks.
Kenneth Feinberg isn't being paid for the long hours he's putting in as the Treasury Department's special master to determine executive compensation at companies that received bailout money, but the decisions he's making are likely to percolate throughout the financial services industry for years to come.
Here's some additional information that was provided by Fabeetle.com founder Brandon Gadoci during the reporting of this week's <a href="http://www.investmentnews.com/article/20100321/FREE/303219969" target=”_blank”>Tech Update</a> that we could not get into the story.
The Senate Banking Committee Chairman says he's working with Republican Sen. Bob Corker of Tennessee to propose legislation.
With regulators and lawmakers continuing to scrutinize the blowup of target date funds in 2008, AllianceBernstein LP is adding a component to its lineup of target date funds aimed at managing market volatility better.
State decides to go with Union Bank and Trust, instead
Money managers and financial advisers need to start looking beyond domestic equity and other traditional asset classes for risk-adjusted returns in the current market, according to Kevin Mahn, chief investment officer with Hennion & Walsh Asset Management Inc.
