While industry experts and broker-dealers are working to simplify variable annuity processing and cut down on paperwork electronically, software vendors are trying to help advisers easily compare products to comply with suitability requirements.
Children with at least one parent holding a high school diploma are much less likely to be risk-averse than those whose parents have less formal education, researchers found in studying survey data from nearly 3,400 adults.
The two were among a group of ex-Marsh executives who were charged in a criminal indictment in September 2005.
MBIA has pulled away from the Association of Financial Guaranty Insurers, saying it no longer shared the trade association’s views.
MISR Securities International of Egypt allegedly refused to pay the debit balance in its account.
J. Andrew Kalbaugh is replacing Mr. Dixon as chairman of Mutual Service as well as chairman and CEO of Associated Securities.
A top brokerage executive with an independent-contractor firm has been fired for failing to report outside business activity.
Ex -AIG CEO Maurice R. Greenberg will get court-ordered access to legal documents that could help him fight fraud charges, according to published reports.
Eaton Vance Corp. and Deutsche Borse AG both reported impressive earnings growth in financial reports issued today.
The New York State Insurance Department also reproached the plan, arguing that it would be “bad for the banks.”
The French bank posted a $4.93 billion loss compared to a $1.7 billion profit in the year-ago period.
Assets in managed accounts grew by 20.1% last year, hitting $1.49 trillion, according to the Money Management Institute.
The all-in-one rider provides an income step-up to 200% of the initial guaranteed amount 10 years into the policy.
FBR booked a net loss of $27.8 million compared with a net loss of $7 million in the year-ago period.
The Charlotte, N.C.-based bank collected $483 million in annuity fees, or 0.06% of $782.8 billion in assets.
The <a href=/assets/docs/CI39631220.PDF>assessment</a> details areas where reciprocity and uniformity initiatives must improve in U.S. states.
Warren Buffett faced is facing criticism after Moody’s Investors Service — in which he is the largest stakeholder —told bond insurers to accept a bailout.
The consumer price index increased 0.4% in January, fueled in large part by rising food and beverage prices.
Christopher Poch will run the private trust group at the firm.
First-quarter results will suffer from subprime-related trading losses.
