Wachovia Securities has been added to a lawsuit challenging the legality of firms’ bank deposit sweep programs.
PowerShares will launch five new internationally focused ETFs on the American Stock Exchange tomorrow.
Hong Kong is simplifying the licensing agreements for overseas hedge fund managers looking to set up shop in the territory.
Seacliff Capital, a San Francisco hedge fund, has joined the ranks of those opposing Barclays’ bid for ABN AMRO, published reports said.
Hedge fund D.E. Shaw has formed a Bermuda-based holding company to acquire James River Group Inc. for $575 million.
The hedge fund industry is at risk of being lulled into a false sense of security that could expose the broader financial markets to additional risks, according to Anthony Ryan, assistant secretary of the Treasury for financial markets.
The Hartford Financial Services Group Inc. has tapped Thomas M. Marra to take on the combined position of president and chief operating officer.
The SEC plans to decide by the end of the year whether to reform 12(b)-1 fees or eliminate them altogether, and proponents of both alternatives are poised to try swaying its decision.
In an effort to catch industry leader Barclays Global Investors, State Street Global Advisors has raised the wholesalers’ compensation for effecting the sale of exchange traded funds and lowered the amount it pays for effecting sales of its mutual funds and separately managed accounts.
Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.
More insurers are offering riders that include long-term-care coverage in life insurance policies.
BOSTON — Thanks to a banner year on Wall Street, the 2006 bonus increase for employees at The Vanguard Group Inc. could be the biggest in more than a decade.
WASHINGTON — The Senate Finance Committee has taken the unusual step of asking for public comment on a legislative proposal for a bill that would require brokers and mutual funds to report the cost bases of their customers’ securities transactions.
PHILADELPHIA — With help from Barclays Global Investors, a California 401(k) record keeper has created a new platform intended to break the mutual fund stranglehold on the 401(k) market.
PHILADELPHIA — In a further sign of how exchange traded products are chasing more exotic strategies, Barclays Bank PLC of London has unveiled an exchange traded note that provides investors with exposure to a covered-call-writing strategy.
One of AIG's subprime units settled with the Office of Thrift Supervision over inappropriate loans to some borrowers and excessive fees.
Two hedge funds have sent a second letter to TD Ameritrade, challenging the company’s refusal to merge.
The Hedge Fund Research composite index increased 2.43% in May and is up 7.19% on the year.
Two hedge funds are pressuring TD Ameritrade to sell out to E*TRADE or Schwab, according to press reports.
Prudential Financial today announced that it would close its equity research and trading business, with a loss of some 420 jobs.
