Industry News

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Pimco's Gross back as corporate-debt bet rings the bell
NEWS INDUSTRY NEWS OCT 12, 2011
Pimco's Gross back as corporate-debt bet rings the bell

Hot October propels Total Return Fund up the performance ladder

By John Goff
Bill Gross cops to 'stinker' of a year
NEWS INDUSTRY NEWS OCT 12, 2011
Bill Gross cops to 'stinker' of a year

Pimco bond king issues mea culpa to clients about fund's performance; 'new normal' too optimistic

By John Goff
Analyst offers mind-bending forecast for S&P 500
NEWS INDUSTRY NEWS OCT 12, 2011
Analyst offers mind-bending forecast for S&P 500

Janjuah expects precipitious fall in large-cap index; earlier calamitous prediction didn't pan out

By John Goff
INsider: Absolute return absolute nonsense
NEWS INDUSTRY NEWS OCT 12, 2011
INsider: Absolute return absolute nonsense

'Marketing gimmick' misleading for retail clients and sophisticated investors; only market certainty is that stocks will rise, fall

By Bloomberg
Life settlements scammers get longer jail sentences than Enron's Skilling
NEWS LIFE INSURANCE AND ANNUITIES OCT 12, 2011
Life settlements scammers get longer jail sentences than Enron's Skilling

Two Houston men have been sentenced to spend more than 45 years in prison for their role in a massive life settlements fraud scheme.

By Darla Mercado
BofA institutional unit snags Convergent advisers with $2.7B in AUM
NEWS RETIREMENT PLANNING OCT 12, 2011
BofA institutional unit snags Convergent advisers with $2.7B in AUM

By Andrew Osterland
Set your watches: S&P 500 could bottom out next Thursday, says DeMark
NEWS INDUSTRY NEWS OCT 12, 2011
Set your watches: S&P 500 could bottom out next Thursday, says DeMark

Famed market analyst believes large-cap bellwether may fall as low as 1,076 before rally ensues

By John Goff
NEWS LIFE INSURANCE AND ANNUITIES OCT 12, 2011
Annuity reg vote pushed back due to Irene

NAIC's summer meeting in Philadelphia washed out by Hurricane Irene; decision on disclosure model to come later this month

By Darla Mercado
No financial stocks? Ex-Fairholme managers not just like Bruce
NEWS INDUSTRY NEWS OCT 12, 2011
No financial stocks? Ex-Fairholme managers not just like Bruce

New fund launched by ex-Berkowitz employees heavy on tech, light on banks; seen as a possible selling point

By Jessica Toonkel
Iowa draws clear line for insurance agents and securities brokers
NEWS LIFE INSURANCE AND ANNUITIES OCT 12, 2011
Iowa draws clear line for insurance agents and securities brokers

The state of Iowa finally issued it's long-awaited guidance on what insurance agents and securities brokers can — and can't —do when working with clients

By Darla Mercado
NEWS LIFE INSURANCE AND ANNUITIES OCT 12, 2011
Illinois advisers lose securities licenses for liquidating annuities

By Darla Mercado
Regulatory turf war brewing over indexed annuities?
NEWS LIFE INSURANCE AND ANNUITIES OCT 12, 2011
Regulatory turf war brewing over indexed annuities?

Fine issued by Illinois securities cops over sale of fixed annuities raises questions of jurisdiction; others say no conflict exists

By Darla Mercado
NEWS LIFE INSURANCE AND ANNUITIES OCT 12, 2011
Iowa to shed light on sources of insurance funding

In a move that could affect the sales of securities and insurance in the state, Iowa's insurance regulator this week is expected to issue guidance on how far insurance agents and brokers can go in advising clients on the suitable sources of funds for insurance products

By Darla Mercado
NEWS LIFE INSURANCE AND ANNUITIES OCT 12, 2011
Annuity exam overload could prompt product pruning

Annuity exam overload, including extra training, could prompt some advisers to limit customer choice.

By Darla Mercado
State crackdown could be the death of some universal life policies
NEWS RIAS OCT 11, 2011
State crackdown could be the death of some universal life policies

Push for larger reserves could push some insurers right out of the business; vendors fighting back

By Darla Mercado
Insurance advisory committee full of industry insiders, one notable outsider
NEWS LIFE INSURANCE AND ANNUITIES OCT 11, 2011
Insurance advisory committee full of industry insiders, one notable outsider

Birnbaum the sole consumer advocate on newly formed panel; 'really going to stand out'

By Darla Mercado
MetLife reins in popular VA benefits rider — again
NEWS LIFE INSURANCE AND ANNUITIES OCT 11, 2011
MetLife reins in popular VA benefits rider — again

Regulator filing details second benefits cut since May launch

By Darla Mercado
IRS boosts caps on 401(k) contribution, death tax exemption
NEWS RETIREMENT PLANNING OCT 11, 2011
IRS boosts caps on 401(k) contribution, death tax exemption

The bad news: the hike for retirement plan kick-ins is puny, while the estate tax exclusion plummets next year

By John Goff
NEWS RETIREMENT PLANNING OCT 11, 2011
LTCI too pricey even for Uncle Sam as CLASS Act yanked

Citing costs, government pulls plug on controversial long-term-care insurance plan; 'we're right where we have been operating'

By Darla Mercado
Wasserstein haunts Harry & David in buyout doomed to bankruptcy
NEWS RETIREMENT PLANNING OCT 11, 2011
Wasserstein haunts Harry & David in buyout doomed to bankruptcy

Bruce Wasserstein, dead for two years, still casts a pall over the Rogue River Valley of southern Oregon, home of Harry & David Holdings Inc.

By Doug Cubberley