The British Bankers' Association said the rate on three-month loans in dollars — known as the London Interbank Offered Rate, or Libor — was down 0.01 of a percentage point to 0.61 percent.
More than two dozen industry and association representatives will weigh in on whether target date funds need to be redesigned at a June 18 hearing with the Securities and Exchange Commission and the Department of Labor.
Standard and Poor’s Ratings Services has raised its outlook on TARP recipients The Hartford (Conn.) Financial Services Group and Lincoln National Corp.
American International Group Inc. and its former chairman and chief executive, Maurice “Hank” Greenberg, have a court date today related to a fight over a block of AIG shares that was sold for $4.3 billion.
Mutual fund and ETF investors invested more than $55 billion in stock and bond funds last month, marking the second straight month of $50 billion plus in net inflows to long-term funds,
The Reserve Primary Fund, which had $4.5 million in assets as of June 10, had total expenses of $16.6 million from Sept. 15 through June 10, which included $15 million in management fees, according to a statement issued by The Reserve Management Co. Inc. last week.
Sun Life Financial Inc. today said that it will buy Lincoln National Corp.’s business in the United Kingdom for about $318.6 million.
The “liquor indicator” is showing that consumers are still worried about losing their jobs.
Wary investors have been steadily moving assets out of safe — but incredibly low-yielding — money market mutual funds in significant numbers since the U.S. markets bounced off of their lows in early March.
A sprawling case of alleged securities fraud involving an independent broker-dealer and two brokers may wind up costing an insurance company $10.3 million.
As new annuity rules continue to develop, chief compliance officers at broker-dealers say that they still face some challenges in implementing compliance procedures with their financial advisers.
As Congress takes up health care reform, too little attention is being paid to long term care.
The Financial Industry Regulatory Authority Inc.'s proposal to widen its purview to include non-securities products has left some in the fixed-annuities industry gnashing their teeth.
Pershing LLC, the largest provider of back-office services and financing to small and independent broker-dealers, this month began charging shareholder servicing fees to brokers and financial advisers who buy certain mutual funds from its Fund Center platform.
Make way for the 1,600-pound gorilla in the money management industry.
The Principal Financial Group has declined to participate in the U.S. Treasury’s Capital Purchase Program.
Hedge funds averaged positive returns in May after posting the highest return in more than five years in April, according to estimates released yesterday by HedgeFund.net.
The insurer yesterday received preliminary clearance to accept approximately $3.4 billion in federal aid.
More than 321,000 households received at least one foreclosure-related notice last month — 18 percent more than a year earlier — but the smallest annual gain since June 2006.
The recent popularity of small-cap mutual funds may be a sign that recession is giving way to recovery.
