Broker-dealers, registered representatives and advisers could be on the hook if they sell products from major carriers whose risk-based capital is crumbling, plaintiff's attorneys say.
National Financial Partners Corp., the amalgamator of financial planning firms whose shares have plunged 90.7% in the past 52 weeks, is renegotiating its bank credit lines, suspending its dividend and share buybacks and temporarily ceasing acquisitions as it and its constituent firms continue to struggle.
Mutual funds and exchange traded funds that make dollar bets continued to turn in great returns last week despite concerns among some industry watchers that an eight-month U.S. dollar rally is winding down.
The stock market historically has risen more during the first year under Democratic presidents than the first year under Republican presidents, according to data released last month by Savant Capital Management Inc.
During this period of extreme stock market volatility and credit market uncertainty, the case for a broadly diversified portfolio that avoids market valleys — and probably won't soar to market peaks, either — might be the recipe for a good night's sleep.
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.
Plaintiff's attorney Bill Gladden thought he had handled his last investor arbitration case when he retired in February. But a flood of claims arising from the $2 billion blowup of the Regions Morgan Keegan Select bond funds pulled him back into the legal fray.
Financial services companies continue to increase their technology spending despite rocky markets and an anemic economy.
Once again, it is about the plumbing.
The unemployment rate shot up to 6.5% last month, marking its highest level in 14 years, according to the Department of Labor.
