The mutual fund industry today attempted to make a pre-emptive strike against congressional efforts to reduce tax breaks for 401(k) plans or to make major changes in the system.
A federal jury yesterday convicted two former KPMG LLP executives and a tax lawyer of tax-evasion charges in one of the largest tax-shelter cases of all time, according to published reports.
Mutual fund assets will remain in decline unless regulations put them on equal footing with other investment vehicles, such as ETFs, according to a study released this week by Celent, a Boston-based research and consulting firm.
The Managed Funds Association, the Washington-based organization that represents the hedge fund industry, announced its support for Mary Schapiro as the new head of the Securities and Exchange Commission and Gary Gensler, who will head-up the Commodity Futures Trading Commission.
Homebuilder Lennar Corp. posted a loss in its fiscal fourth quarter that was significantly smaller than last year’s record loss, but executives at the Miami company have yet to see signs that the troubled housing industry has bottomed.
Does Mary Schapiro have the right stuff to take on the big firms? Although praise is coming in from many quarters for the nomination of the Finra chief to head up the Securities and Exchange Commission, there may be cause for concern.
More than 7% of 401(k) assets were invested in target date funds at the end of 2007 and 25% of 401(k) participants held the funds, according to an analysis released today.
President-elect Barack Obama has nominated Mary Schapiro, the chief executive of the Financial Industry Regulatory Authority Inc. of New York and Washington, as chairwoman of the Securities and Exchange Commission.
Axa SA of Paris, Massachusetts Mutual Life Insurance Co. of Springfield and Swiss Reinsurance Co., as well as other all-star companies, have also been exposed to Mr. Madoff’s alleged $50 billion Ponzi scheme.
JPMorgan Chase & Co. analyst Andrew Wessel has raised earnings estimates and price targets on several mortgage real estate investment trusts in the wake of the Fed’s latest rate cut.
