The Hartford (Conn.) Financial Services Group received approval from the Connecticut insurance commissioner to change accounting practices.
Shareholder activism is likely to surge this spring through efforts to withhold votes for individual directors, seek more investor input on executive and other efforts.
New York Attorney General Andrew Cuomo may subpoena more executives from Bank of America Corp. and Merrill Lynch & Co. Inc.
Congress has reached agreement on the nearly $800 billion economic stimulus package sought by President Obama. Senate Majority Leader Harry Reid , D-Nev., told reporters that House and Senate negotiators “bridged differences” between the two chambers’ versions of the bill and came up with a $789 billion package.
Putnam Investments tomorrow will lay off about 260 employees, roughly 10% of its work force, mostly from distribution and operations.
Providers will push forward with the development of the income guarantee paired with a unified managed account, and with other vehicles, despite hurdles.
Insurers are eager to continue developing products in the variable annuity arena — with the search for ways to reduce risk as a top priority.
The Retirement Income Industry Association gave a sneak peek into an initiative designed to encourage financial advisers to take a risk management approach.
