The $1.9 trillion hedge fund industry has gone on the defensive following a recent statement by Italian finance minister Giulio Tremonti, who suggested a move to abolish the alternative-class investments in Italy.
The Permal Group, a hedge fund group owned by Legg Mason Inc., plans to raise up to $500 million to purchase distressed hedge fund holdings.
Despite being hit with a trading scandal this year and being exposed to assets from the now-bankrupt Lehman Brothers Holdings Inc. of New York, Société Générale SA is estimating a third-quarter profit.
AARP is collaborating with state securities regulators to monitor “free-lunch” seminars given by financial-product providers.
In an effort to breathe life into the struggling economy, the Treasury Department will inject $250 billion into banks, while the FDIC took steps to help depositors.
Advisers need to keep an eye on a particular court case regarding 401(k) fees, because if the U.S. Court of Appeals rules in favor of participants, an outpouring of additional lawsuits could occur in short order, according to a lawyer who specializes in retirement issues.
The Municipal Securities Rulemaking Board has promoted two staff members to new roles and hired a new member to its senior management team.
The Reserve announced yesterday that the distribution from the liquidation of the Reserve Primary Fund would not happen within the time frame previously planned.
The Department of the Treasury has hired The Bank of New York Mellon Corp. to be the custodian that will implement its $700 billion economic-stimulus package.
The latest data, released today by ForeclosureRadar.com, show the number of default notices filed against California homeowners plummeted 61.8% in September from August, and slipped 36.4% from a year ago.
