Industry News

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'Horrific' earthquake in Japan sends shock waves around the world
NEWS INDUSTRY NEWS MAY 26, 2011
'Horrific' earthquake in Japan sends shock waves around the world

An 8.9 magnitude earthquake struck off the east coast of Japan about a half an hour before the local stock markets closed. The massive quake sent oil prices falling and European shares tumbling.

By John Goff
March of the millionaires on the rise -- particularly in Singapore
NEWS RETIREMENT PLANNING MAY 25, 2011
March of the millionaires on the rise -- particularly in Singapore

City-state has highest percentage of millionaire households; China now No.3 in total number of millionaire households

By John Goff
NEWS INDUSTRY NEWS MAY 25, 2011
Gold is neither a good nor bad investment

Numerous commentaries in the media would have the investment world believe that gold is a bad investment

By Nick Barisheff
Memo to Congress: It's time for SEC to be self-funded
NEWS RIAS MAY 25, 2011
Memo to Congress: It's time for SEC to be self-funded

The time has come for Congress to cut the purse strings that have long impeded the SEC's ability to do its job

By MFXFeeder
Goldman's O'Neill roasts black swan, sees global stock rally
NEWS INDUSTRY NEWS MAY 25, 2011
Goldman's O'Neill roasts black swan, sees global stock rally

GASM boss says 'every little problem that crops up' not a market killer; thinks China stock rally may boost other bourses; 'every little problem that crops up' not a market killer

By John Goff
NEWS RIAS MAY 25, 2011
Much-anticipated site for investors good news/bad news for advisers

BrightScope Inc. has launched a free online service that will allow investors to look up financial advisers

By Jessica Toonkel
NEWS RETIREMENT PLANNING MAY 25, 2011
Don't raid an IRA to pay for college

By MFXFeeder
NEWS INDUSTRY NEWS MAY 25, 2011
States worried about viability of prepaid college savings plans

Faced with escalating tuition costs and lackluster investment returns, some states are considering plans to cut back on the benefits offered through their prepaid college savings plans

By Liz Skinner
California goes to school on 529 plans
NEWS INDUSTRY NEWS MAY 25, 2011
California goes to school on 529 plans

Aiming to take advantage of lower fees and other investor-friendly trends in the college savings plan market, the Golden State puts its plans out for bid.

By Liz Skinner
John Hancock to pony up $1 million to Louisiana in death benefit flap
NEWS LIFE INSURANCE AND ANNUITIES MAY 24, 2011
John Hancock to pony up $1 million to Louisiana in death benefit flap

Payment to the Bayou State marks third such settlement for the insurer in less than two months

By Darla Mercado
NEWS RIAS MAY 24, 2011
Startup Washington Wealth Management snags MSSB big John Simmons

Virginia-based firm looking to add more wirehouse advisers; founder touts adviser transition program

By Andrew Osterland
NEWS INDUSTRY NEWS MAY 24, 2011
Trace evidence? Ameriprise took years to boot alleged forger, Finra says

Finra censures Amerprise after the firm purportedly discovered a broker who was allegedly forging client signatures -- but failed to boot him out of the company for over two years.

By Bruce Kelly
Connecticut is latest state to probe death benefit payments
NEWS LIFE INSURANCE AND ANNUITIES MAY 24, 2011
Connecticut is latest state to probe death benefit payments

Connecticut's insurance department yesterday kicked off an inquiry into insurers' payments of death benefits and the steps the insurance companies take to locate beneficiaries.

By Bloomberg
NEWS FIXED INCOME MAY 24, 2011
Deutsche Bank: Bargains going a-begging in muni market

Investors are continuing to stampede out of tax-exempt muni bond funds, but they probably shouldn't, according to Gary Pollack, Deutsche Bank AG's head of fixed-income trading

By Andrew Osterland
Legg Mason overhauls executive ranks
NEWS RIAS MAY 24, 2011
Legg Mason overhauls executive ranks

Following a quarter in which it sustained nearly $13 billion in net outflows, Legg Mason Inc. is reorganizing its senior ranks

By Jessica Toonkel
NEWS REGULATION AND LEGISLATION MAY 23, 2011
Ketchum pledge: More-efficient Finra oversight

By MFXFeeder
NEWS LIFE INSURANCE AND ANNUITIES MAY 23, 2011
Life carriers' risk controls under scrutiny

By Darla Mercado
Life insurers gird for risk management grilling by advisers
NEWS LIFE INSURANCE AND ANNUITIES MAY 23, 2011
Life insurers gird for risk management grilling by advisers

Insurers are girding for a flurry of questions about their risk management from broker-dealers and advisers whose interest has grown following the economic bust.

By Darla Mercado
Securities America, plaintiffs' attorneys strike deal: Sources
NEWS INDUSTRY NEWS MAY 23, 2011
Securities America, plaintiffs' attorneys strike deal: Sources

In a huge turning point for Securities America, the besieged brokerage and attorneys representing investors have purportedly agreed to settle lawsuits arising from the sale of soured private placements

By Bruce Kelly
Securities America, plaintiffs making 'substantial progress'
NEWS INDUSTRY NEWS MAY 23, 2011
Securities America, plaintiffs making 'substantial progress'

In an e-mail sent to brokers Friday evening, Securities America said crucial negotiations with investors suing the B-D could lead to a final resolution of the dispute. Without such an agreement, the brokerage -- and its 1,800 reps -- may be facing the end of the line.

By Bloomberg