ING Financial Partners last month reached a settlement with 38 defrauded investors to return $2.9 million stolen by two former brokers, both of whom are now in jail.
Economic activity weakened across the country since mid-October, as the credit crisis had an impact on the broader economy, according to the Federal Reserve's Beige Book.
After a three-year run in the mutual funds sector, Utopia Funds in Traverse City, Mich. is throwing in the towel by liquidating all four of its funds as of Dec. 22.
The U.S. economy shed 250,000 private-sector jobs in November in the latest sign that the recession is pummeling the job market, according to the monthly ADP National Employment Report released today.
In an open letter released Tuesday, the SEC warned chief executives of registered financial services firms to be vigilant when it comes to keeping their compliance programs in order.
To offset numerous redemptions this year, Fidelity Investments announced yesterday it will be reopening two of its mutual funds to new investors and accounts, starting Dec. 16.
AIG is in need of a federal government guaranty to meet counterparty collateral requirements, its former CEO Maurice Greenberg, said today.
Genstar Capital LLC, a San Francisco-based private-equity firm, yesterday agreed to buy Long Term Care Group Inc., an outsourced services administrator.
Sales on Black Friday — the day after Thanksgiving, thought to be the busiest shopping day of the year — fared better than anticipated but did not rescue November retail sales, according to a report from Thomson Reuters of New York..
