American International Group Inc. yesterday dismissed as “without merit” a lawsuit filed by two investors who claim the insurer should have covered the losses they suffered because they invested with Bernard L. Madoff.
Total money market mutual fund assets fell by $12.07 billion to $3.581 trillion for the week, the Investment Company Institute said yesterday.
Independent broker-dealer Securities America Inc. has announced that USAdvisors Network LLC of Eden Prairie, Minn., has signed an agreement for its affiliated advisers and institutions to join the La Vista, Neb.-based firm.
A securities arbitration claim of $5 million has been filed against Merrill Lynch by a Freeport, Bahamas couple who say the preferred financial company stocks the company sold them were unsuitable, according to the law firm representing the couple.
A Swiss banker and a lawyer are the latest to face U.S. criminal charges in a wide-ranging international tax evasion investigation.
The Swiss government said today it made a profit of 1.2 billion Swiss francs ($1.1 billion) from the sale of its stake in UBS AG, a day after concluding a deal that appears to end the bank's yearlong tax-evasion battle in the United States.
A key federal regulator is asking lawmakers to tighten legislation imposing broad new oversight on derivatives by going beyond the Obama administration's proposal in several areas governing the complex financial instruments blamed for hastening the global economic crisis.
Two law firms are investigating potential claims on behalf of retail investors who purchased leveraged, inverse and leveraged-inverse exchange traded funds and held them in their brokerage accounts for longer than one day.
It turns out that Bob Benmosche, the new head of American International Group, isn't selling the company's three independent broker-dealers.
