Provisions in legislation aimed at “too-big-to-fail” financial firms will increase borrowing costs for large institutions — and will make it harder to get secured lending, according to financial industry officials.
Stocks surged in early trading Friday after the government said the nation's jobless rate dropped to 10 percent in November and far fewer jobs were lost.
A court ordered the Tokyo Stock Exchange Friday to pay 10.7 billion yen ($121 million) in damages to Mizuho Securities Co. Ltd. over massive losses in a botched transaction.
Acquiring a life insurance company in the United States is an option that Sun Life Financial Inc. is willing to entertain, Jon Boscia, president of the Canadian financial services firm, said today.
U.S. Treasury Secretary Tim Geithner said he expects the “vast number of banks” that borrowed money from the government during the financial crisis to repay the debt fairly soon, and expressed confidence that the economy is slowly reviving.
The five-person business, with about $520 million in assets, is setting up shop as an independent in Novi, Mich.
U.S. stocks are higher in early trading as the government reported new jobless benefit claims fell unexpectedly for the fifth straight week.
Most advisers and brokers agree that all professionals giving financial advice should be required to put the client's best interests first at all times — the traditional fiduciary standard — according to a new survey.
The Federal Reserve is fine-tuning a strategy to reel in some of the unprecedented amount of money that's been pumped into the economy during the financial crisis.
Swiss Reinsurance Co. Ltd. today introduced a $75 million catastrophe bond, covering extreme mortality risks.
Life insurers are concerned that legislation the House Financial Services Committee is likely to approve after Thanksgiving will increase costs substantially for the 28 carriers that have assets of more than $50 billion.
The Department of Labor's withdrawal of a controversial rule allowing advisers to work directly with retirement plan participants — just days after the agency extended the effective date of the rule — has some industry observers wondering if DOL officials are buckling under pressure from Congress.
Federal Reserve Chairman Ben Bernanke on Monday said the central bank will keep a close eye on the sliding U.S. dollar even as he pledged anew to keep interest rates at record-lows to nurture the economic recovery.
Insurers with at least $10 billion in assets would be required to pay into a federal fund to cover the costs of resolving failures at financial services companies under legislation to be taken up next week by the House Financial Services Committee.
Focus Financial Partners LLC, which calls itself the largest partnership of wealth management firms in the world, is securing a new capital infusion to help it service outstanding bank debt and continue its business of acquiring stakes in large registered-investment-advisory firms.
The European Parliament on Thursday strongly rejected a deal that would have allowed U.S. authorities access to European bank transfers, allegedly to track funds supporting terror groups.
