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PRACTICE MANAGEMENT MAR 03, 2009
Justice Dept. chastises UBS chairman over IRS fraud probe

In the most direct evidence yet tying UBS Chairman Peter Kurer to oversight failures at the Swiss bank, the U.S. Justice Department last month criticized as inadequate an internal investigation that he supervised.

RIA NEWS MAR 03, 2009
RIAs lash out at Schwab hedge fund decision

A consortium of RIAs is “actively looking elsewhere” for custodial partners after Charles Schwab said it would stop accepting custody of alternative investments.

FIXED INCOME MAR 03, 2009
Fitch’s plan to change muni ratings put on hold

Fitch Ratings is putting off a review of its municipal ratings program because of the economic downturn.

ALTERNATIVES MAR 03, 2009
Homes sales hit new low in January

The number of people signing contracts to buy homes tumbled to a new low in January.

ALTERNATIVES MAR 03, 2009
Hedge funds 4Q outflow largest since ‘94

Investors yanked about $147 billion from hedge funds worldwide in the fourth quarter of 2008, a 689% decline from the third quarter.

RIA NEWS MAR 03, 2009
At a glance: American Recovery and Reinvestment Act

You have received a barrage of telephone calls from your clients asking how the new stimulus package might affect them.

RIA NEWS MAR 03, 2009
Economists say Dow drop means more recession

While the historic plunge of the Dow Jones Industrial Average yesterday may not be a sign that the markets have reached the bottom, most economists agree that it signals a prolonged recession.

MUTUAL FUNDS MAR 03, 2009
T. Rowe promotes two managers to new posts

T. Rowe Price Group Inc. has restructured its equity leadership, elevating two top portfolio managers into new posts overseeing domestic and international equities.

RIA NEWS MAR 03, 2009
Sen. Levin seeks to close tax-haven loophole

The offshore tax-haven loophole could be getting a lot smaller if Sen. Carl Levin, D-Mich., has his way.

REGULATION AND LEGISLATION MAR 03, 2009
SIPC raises assessment fees on brokerage firms

The Securities Investor Protection Corp. will raise member brokerage firm assessments to 0.25% of net operating revenue. The new rate, up from the current flat $150 per year, is effective April 1.