Finra has shuttered a small Texas broker-dealer for allegedly charging clients excessive markups on $1.3 million in securities transactions.
Finra arbitrators have ordered a securities analyst who claims he was wrongfully fired by Rodman & Renshaw LLC in 2006 for attempting to lower a stock rating to pay the broker-dealer $10.7 million in damages.
Li Lu, the hedge-fund manager who helped Berkshire Hathaway Inc. find profits in China, may push Warren Buffett's investment company to make more deals outside the U.S. if he takes a role at the company.
Critics want regulators to zero in on 'little cancers' -- instruments that confuse buyers and generate large fees
The Hartford Financial Services Group Inc. is reducing the expenses on six of its fixed-income funds, but the funds are still far from being low for their categories, according to Morningstar Inc.
Michael Burry, the former hedge fund manager who predicted the housing market's plunge, said he is investing in rich farmland, small technology companies and gold as he hunts for original ideas and braces for a weaker dollar.
The 50 largest registered investment advisory firms managed a total of $127.2 billion in discretionary assets as of the end of the second quarter, up an impressive 16% from a year earlier.
Seven years ago, children living in the isolated Honduran mountain village of Guyamitas were forced to eat grass and leaves to survive.
Raymond James Financial Services Inc. early this month fired a broker who held key financial positions in local Connecticut politics after discovering he was under investigation for misappropriating clients' funds.
B-Ds, advisers let loose on the insurer about its attempt to entice clients to switch from one variable annuity to another. The chief complaints: the timing of the letter to clients and the features of the new VA.<br> <a href=http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20100901/FREE/100909996&plckFindCommentKey=CommentKey:f6e094fc-0f50-474b-aa13-8ce8ab8116d3#CommentKey:f6e094fc-0f50-474b-aa13-8ce8ab8116d3>Readers clash over the controversy</a>
Financial advisers are fuming over a letter The Hartford sent to clients which entices them to swap their variable annuities for a replacement. Why so angry? Advisers say the new VA actually strips away generous guarantees.
Low trading volume, credit crunch put firms in regulator's sights
Clay Finlay, an international equity boutique, will be wound down over the coming months, and its $1.8 billion of assets will be returned to clients, said Thomas M. Turpin, president and CEO of the firm’s parent company, Old Mutual Asset Management.
One of the owners of the defunct oil and gas dealmaker Provident Royalties LLC has pleaded guilty to conspiring to defraud investors in a $485 million scheme that ensnared dozens of independent broker-dealers.
The Securities and Exchange Commission's proposal to revamp 12(b)-1 fees may not be as draconian as feared, but it would eliminate a cost-efficient choice for investors, said Chet Helck, chief operating officer of Raymond James Financial Inc.
The Charles Schwab Corp.'s move into active ETF management with the acquisition of Windward Investment Management Inc., which was announced today, didn't come as a surprise to advisers, who gave it high marks.
Cold calling, as a method for bringing in new accounts, appears to be alive and well.
With their day-to-day business practices likely to change as a result of the new financial-reform law, broker-dealers are scrambling to assess their technology preparedness.
