The U.S. government must continue its efforts to crack Switzerland's bank secrecy walls. Those barriers have helped perhaps hundreds of thousands of wealthy Americans shield at least some of their income from the Internal Revenue Service.
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
The declining value of fixed-income portfolios in a climate of rising interest rates will hinder life insurers' performance over the next two years.
In the wake of a decision last month by LPL to bring in-house the clearing function at three subsidiary broker-dealers, about 200 financial advisers at those firms have moved to other firms or are planning to do so.
Another team of registered representatives who work with wealthy clients has turned its back on Wall Street to become independent registered investment advisers.
Independent broker-dealer Securities America Inc. has announced that USAdvisors Network LLC of Eden Prairie, Minn., has signed an agreement for its affiliated advisers and institutions to join the La Vista, Neb.-based firm.
Henry Waxman, chairman of the House Committee on Energy and Commerce, is asking executives at Genworth Financial Inc., The Guardian Life Insurance Company of America and MetLife Inc. to produce details on executives' pay.
American International Group Inc. has named Jay S. Wintrob president and chief executive of its Domestic Life and Retirement Services business.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
Financial services executives believe business conditions will bottom in 2009 before a recovery in the sector and broader economy occurs next year, according to a new study from KPMG LLP.
Medical Capital Holdings Inc., which sold private-placement offerings through a number of independent broker-dealers and has been charged with fraud by the Securities and Exchange Commission, spent freely and lavishly on assets that had nothing to do with medical receivables — its core business — according to court papers filed last week.
It turns out that Bob Benmosche, the new head of American International Group, isn't selling the company's three independent broker-dealers.
The Financial Industry Regulatory Authority Inc. isn't backing down from its position that it has authority over broker-dealers' financial planning activities.
Construction of single-family U.S. homes rose 1.7 percent in July, the fifth-straight monthly increase as builders poured foundations at the fastest pace since last October, the Commerce Department said Tuesday.
Wholesale prices dropped sharply in July, and over the past 12 months fell by the largest amount in more than six decades of record-keeping.
Advisers across American International Group Inc.'s three broker-dealers were stunned to learn that — contrary to all prior indications — the sale of the insurer's broker-dealer network would be scrapped.
A new life insurance product from The Phoenix Cos. Inc. covers two lives under one policy, providing a death benefit for a spouse or business partner.
Despite the run-up in the markets in recent months, Americans remain very pessimistic about their finances — and a growing number of people now say that they're unable to put money away for their futures.
The Financial Planning Association has urged the Securities and Exchange Commission to restrict the Financial Industry Regulatory Authority Inc.'s enforcement power.
