SAN JOSE, Calif. — A former employee who has cashed out of his 401(k) plan can still sue the plan’s administrator for mismanaging the plan’s assets, a federal appellate court has ruled in a decision that observers said significantly increases the number of participants who can file suit against their plan sponsors.
NEW YORK — With assets increasing, the Raymond James Bank is beginning to have an effect on the results of parent company Raymond James Financial Inc.
After examining an aborted insider-trading investigation involving Pequot Capital Management Inc. and Morgan Stanley chief executive John Mack, Senate investigators have concluded that SEC enforcers are concerned about being undermined by their supervisors.
Charitable-remainder trusts have grown in popularity at universities that control the trusts using their own investing strategies, but financial advisers are often loath to hand over control to the schools, as the strategies are sometimes risky.
Independent-contractor broker-dealers and their registered representatives face pressure on all fronts, from recruiting and proper practice management to compliance and the best way to build up their businesses.
As ripples from the imploding subprime-mortgage market spread across the broader home lending industry, financial advisers might have to start helping clients reposition their mortgage and home equity exposure.
NEW YORK — In the midst of stock market volatility, affluent investors are feeling nervous and are pressuring advisers to sell their stocks.
Michael S. Flanagan has been named managing director within the Aon Technology Group, which is part of Aon Risk Services.
Sen. Schumer wanted to increase the carried interest tax for a variety of partnerships that use a “two-and-20” structure.
Shaken up by mortgage market worries, investors are retreating from funds that invest in bonds and equities.
WASHINGTON — Estate planning lawyers are increasingly worried that Congress may not act on estate tax reform before the estate tax repeal expires at the end of 2010.
SAN FRANCISCO — With early-stage investments showing new strength during the second quarter, venture capitalists reported the largest number of deals since 2001.
OTTAWA — Embarrassment? Tragedy? Take your pick. Those were among the mostly furious reactions to the decision by Ontario Superior Court that cleared a former vice chairman of Bre-X Minerals Ltd. on all charges leveled at him by the Ontario Securities Commission.
As the Financial Industry Regulatory Association’s arbitration system faces mounting criticism for being too costly for investors, some industry observers are countering with a little-discussed fact: Investors routinely fail to pay a large portion of their securities arbitration bills.
Coby Brooks, the son of the late founder and owner of the Hooters restaurant chain, is in an estate battle with his father's widow, arguing that a commonly used estate law is unconstitutional.
Intensifying its recent focus on protecting retirees, the Financial Industry Regulatory Authority began last month a sweep of broker-dealers focusing on the use of exemptions in the tax code to withdraw money from retirement accounts for clients before they reach 59½.
In order to take on the big boys of the independent broker-dealer market, some growing middle-tier firms are offering souped-up compensation packages in place of or along with big upfront checks.
Financial advisers are reeling from the abrupt resignation of Ellyn A. McColgan last week from Fidelity Investments.
Assets under management for the average SEC-registered investment adviser are expected to leap 256% to $1.6 billion by the end of 2012, from $449.6 million at the end of 2006, according to a study that will be released tomorrow.
The SEC has settled with General American Life Insurance Company and a former executive for late trading.
