The Securities Industry and Financial Market Association will file a lawsuit against South Dakota if voters there approve a ballot initiative tomorrow that the group claims would effectively ban all short selling.
Recent market volatility is forcing mutual fund managers to pay more attention to how much risk they are taking in their portfolios and to focus more on balance sheets.
The Minnetonka, Minn.-based fund’s chief executive, Colin Smith, said in a letter to investors that the current pace of redemption requests could hurt “both continuing and later redeeming investors."
The Depository Trust and Clearing Corp. today announced that starting Tuesday, it will publish weekly aggregate market data from the Trade Information Warehouse it maintains on credit derivatives.
The stock price of The Hartford (Conn.) Financial Services Group Inc. dipped by more than half yesterday, following the company’s release of dismal third-quarter results.
The world’s second-largest insurance broker, Aon Corp., saw its net income decrease 43% to $117 million, or $0.40 per share, in the third quarter, compared with $204 million, or $0.64 per share, in the year-earlier period.
The Reserve Management Co. Inc. of New York today completed the first wave of distributions to shareholders from the liquidation of the Primary Fund.
Investors pulled $21.9 billion out of stock and bond mutual funds in September, according to estimates from the Financial Research Corp. of Boston.
More than 7.5 million Americans at the end of September owed more in loans than their house was worth, according to a report by First American CoreLogic Inc. of Santa Ana, Calif.
Aetna Inc., the Hartford, Conn.-based health insurer, announced today that its third-quarter profit dropped to $277.3 million, or 58 cents per share.
Mutual funds and other companies that seek regulatory-rule exemptions will have to submit their applications electronically under a rule adopted today by the Securities and Exchange Commission.
The Reserve’s handling of its communications surrounding the financial problems, unfortunately, earn a grade of less than a gentleman’s “C.”
The Hartford (Conn.) Financial Services Group Inc. today reported a third-quarter net loss of $2.6 billion, or $8.74 per diluted share.
Not only are investors greatly confused about annuities, but they are also greatly biased against them, according to a new study from LIMRA International.
The residential real estate market continued to struggle in August with home prices tumbling at a record pace during the month, according to the Standard &Poor’s/Case-Shiller Home Price Index that was released today.
Deutsche Bank AG lost more than $400 million on equity derivatives as the stock markets fell in the wake of the financial crisis, two people familiar with the matter told Bloomberg.
To survive the credit crunch and regain consumer confidence, insurers must strip away the fancy features from their products, said Quincy Krosby, chief investment strategist at The Hartford (Conn.) Financial Services Group Inc.
Insurance executives highlighted the income benefits behind some new annuity solutions and guarantee wrappers, but the costs behind these products may rise in light of a careening market.
The latest data from the Department of Commerce indicate sales of new single-family homes rose slightly in September from August while average home prices fell to their lowest level in almost three years.
Amid bad news in the financial sector, life insurance executives were urged to fight for clients’ trust in their industry and products at the research organization’s annual meeting in Hollywood, Fla.
