Despite vehement objections from state regulators, Conseco Inc. yesterday completed its transfer of a group of long term care policies to an independent trust.
The controversial proposal would move most EIAs from the status of insurance products, which are regulated only by states, to that of securities, which are federally regulated.
Losses in the financial services industry since early 2007 are inching closer to the $1 trillion mark, according to data compiled by Bloomberg LP.
Rydex Investments of Rockville, Md., today announced that shares of its exchange traded trust, CurrencyShares Russian Ruble Trust (XRU), will begin trading today. An exchange traded trust is similar to an exchange traded fund.
Finra has fined Citigroup Global Markets, the brokerage and securities arm of Citigroup Inc., $300,000 for failing to reasonably supervise the commissions that its brokers charged their clients on stock and options trades.
Virtually all senior hedge fund managers expect increased regulation for the alternative-asset-management industry under President-elect Barack Obama’s future administration, according to a study released today.
Foreclosure activity rose 25% in October from the same period a year ago, according to the latest data from RealtyTrac Inc. of Irvine, Calif.
The price-to-sales ratio for the 30 companies that comprise the Dow is at its lowest point since 1996, making this a great time to get nto the market, said Neil Hennessy, CIO and portfolio manager for Hennessy Mutual Funds.
Raoul Weil, chairman and CEO of the global wealth management division of UBS, has been indicted by a U.S. grand jury, charged with conspiring to help 20,000 wealthy Americans hide assets from the IRS.
