Small- and mid-size record keepers that administer 401(k) programs for providers are concerned that a plan to ensure that mutual funds are not being "market timed" will be so expensive to oversee as to put some of them out of business.
The bull market in broker recruitment deals has peaked.
Amid shrinking assets and a flood of redemptions, mutual funds that were closed to new investors are rolling out the welcome mat again.
A panel that is charged with recommending changes to the ways money market mutual funds operate is being met with skepticism by money fund experts who worry that changes might be unnecessary.
In an unprecedented move that some are comparing to gambling on the legal system, a $4.6 billion lawsuit is being packaged as the sole asset of a special-purpose company that is preparing an initial public stock offering.
Fortress Investment Group LLC has seen more than $4.5 billion in redemption requests from clients in the year ended Sept. 30, the giant hedge fund reported in its quarterly statement yesterday.
The Hartford (Conn.) Financial Services Group Inc. today announced that it has applied to the Office of Thrift Supervision to become a savings and loan holding company.
Shareholders will receive an annual dividend of 58 cents per share of common stock Dec. 19, down by about 50% from the dividend paid out in 2007.
Consumer sentiments improved slightly in November, according to the Reuters/University of Michigan Consumer Sentiment Index.
Retail sales fell 2.8% in October to a seasonally adjusted rate of $363.7 billion, marking the largest decline since the data were first tracked by the Department of Commerce in 1992.
