Money market funds will have to disclose on a delayed basis their fluctuating “shadow” net asset values rather than their $1-per-share value, thanks to new rules adopted today by the Securities and Exchange Commission.
Authorities say Patrick Rakotonanahary's currency trading business was actually a classic Ponzi scheme
With the life insurance industry recovering from a year of falling revenue, as sales of variable annuities, universal- and variable-universal life insurance all off, carriers are gearing up to make some changes.
Program aimed at helping advisers come up with a ballpark figure on what their firms are worth; many 'flying blind'
New data finds that more than 2 million individual life insurance policies were sold via the Internet, direct mail and telephone.
The growth of mobile Internet usage via smart phones and tablet computers is poised to drive the next major technology cycle, according to Keith Goddard, president and chief investment officer of Capital Advisors Inc.
As Congress steps up scrutiny of the credit rating industry, allegations by another former employee of Moody's Investors Service have come to light and the big rating agency is being called to account before a House panel.
Fidelity Investments says it still isn't offering third-party target date funds on its adviser-sold 401(k) platform. Not all fund companies signing on to the platform understand that to be the case, however.
Fee income from annuity sales climbed at bank holding companies during the first three quarters of 2009, but sales of fixed annuities in the bank channel slipped, according to two separate studies released last week.
The stock price of The Charles Schwab Corp. fell 2.5% to $18.81 in after-hours trading after the company announced plans to sell more than 26 million shares of common stock. The discount broker and leading custodian for registered investment advisers also reported that its fourth-quarter net income fell 47% from the year-earlier period to $164 million. Schwab last month signaled that it would report weaker results.
