Two former Nebraska City brokers say they shouldn't be prosecuted for securities fraud because the investors who lost more than $20 million acknowledged the risks in writing, but prosecutors said Monday the records don't tell the full story.
Based on a draft amendment of the Investors Protection Act that was distributed today by the House Financial Services Committee to select members of the financial services industry, the duty of care applied to both brokers and financial advisers would be at least as high as the standards that the SEC applies to investment advisers.
Construction of new homes edged up slightly in September, helped by a rebound in single-family construction. However, in a worrisome sign for future housing work, applications for building permits fell by the largest amount in five months.
Over the past year, we have heard from advisers that the economy has not only hit clients hard; it has also affected their children who have recently graduated from college.
PIMCO is planning to build active equity management capability, possibly by lifting an existing team from a rival firm, according to sources familiar with the company.
Efforts by money management executives to revamp their firms' compensation policies are being complicated as a revival of optimism this year has outpaced the rebound in profits, according to a report released Oct. 19 by New York-based executive recruiting giant Russell Reynolds Associates.
After getting worrisome signs about consumers from bankers' earnings reports, investors will be looking at a broad range of companies this week for further insights into the outlook for the economy.
Three men are accused of running a Ponzi scheme that scammed more than $14 million from hundreds of Haitian-American investors in South Florida and New Jersey.
Morgan Stanley has agreed to pay a $90,000 fine to the Financial Industry Regulatory Authority Inc. to settle charges that it traded municipal bonds at unfair prices.
There is no Big Deal for you right now at a Big Firm. Time to get pragmatic.
