As part of his plan to limit the size of banks, President Barack Obama today proposed prohibiting financial institutions that own banks from investing in or advising hedge funds or private-equity funds.
While brokers who provide advice will likely be held to a fiduciary standard this year, a battle is raging on Capitol Hill over what that standard would look like and how it would work.
The stock market is falling as Federal Reserve Chairman Ben Bernanke details plans for dismantling the central bank's economic support measures.
Up? Down? Flat? Rarely have economists and analysts so disagreed over the future of the stock market.
John Hancock Funds LLC has filed papers with the Securities and Exchange Commission to launch a new suite of target date funds that are specifically designed for investors up until the point they retire, a company official said today.
Nationwide Life Insurance Co. has reached a $2.1 million settlement with five state insurance regulators over nine-year-old claims involving allegedly unsuitable variable annuity sales. The five states are California, Kansas, Minnesota, Missouri and Wisconsin.
Home and auto lender GMAC Financial Services said Thursday it lost $5 billion in the last three months of 2009, as losses from its mortgage operations kept the company in the red for another quarter.
The battle for brokers, which led scores of reps to hop from one wirehouse to another in early 2009, came to a grinding halt at end of the year — a development that could last for years, according to James Gorman, new chief executive at Morgan Stanley & Co.
As the rest of the investment world gravitates toward red-hot emerging markets, Abhay Deshpande, co-manager of First Eagle Global Fund, is asserting that Japan actually may be the place to invest.
