If it happened to Federer, it could happen to you
A former Morgan Stanley broker was barred today by the Financial Industry Regulatory Authority Inc. for allegedly misappropriating $11,156.47 from the charitable foundation of a 97-year-old nursing home resident who was his client for more than 20 years.
Seven out of 10 Americans lack confidence that the federal government has taken safeguards to prevent another financial industry meltdown, according to a new Associated Press-GfK poll.
The stock market downturn has led to a significant reshuffling of the Russell 2000 Index, loading the benchmark with the smallest companies it has seen since 1993.
James Kroeker, the chief economist at the Securities and Exchange Commission, said the financial crisis "has highlighted for us the importance of global solutions, even on an accounting front, to complex issues."
Managing client expectations about investment performance remains independent advisers' biggest challenge, but they are regaining confidence in the economy and directing more investments to equities and away from cash and bonds, according to The Charles Schwab Corp.'s semiannual Independent Advisor Outlook Study.
Advisers are wary of President Obama's financial-regulation plans despite his warning today against a return “to the days of reckless behavior and unchecked excess.”
To date, Tamarac Inc. has been known for its re-balancing and trade order generation platform, but that is about to change. The company is simultaneously making two announcements.
The week's dollar sell-off continued today, with the greenback hitting a fresh 12-month low.
The federal deficit surged higher into record territory in August, hitting $1.38 trillion with one month left in the budget year.
