House Republican Leader John Boehner, R-Ohio, criticized the Obama administration's decision yesterday to scrap a Bush administration rule that would have allowed investment advisers to provide advice to 401(k) plan participants.
Signs of a subdued U.S. economic recovery sent investors out of stocks Thursday and in search of safer assets like the dollar.
The Labor Department has officially killed a Bush administration rule that would have cleared the way for mutual fund companies to offer direct one-on-one investment advice through their affiliates to defined contribution plan participants.
Conseco Inc. said it plans to combine two insurance subsidiaries into a new entity in an attempt to save money and boost its statutory capital levels, according to a filing with the Securities and Exchange Commission.
California Insurance Commissioner Steve Poizner has reached a $500,000 settlement agreement with former Conseco Inc. unit Senior Health Insurance Company of Pennsylvania, following complaints of improper handling of claims.
A proposal by the Securities and Exchange Commission that would require advisory firms that hold custody of client assets to be audited by accountants that are inspected by the Public Company Accounting Oversight Board would cost each firm an average of $200,000, according to one new estimate.
The financial advisory industry is rallying its troops against a controversial SEC rule proposal that would subject thousands of investment advisers to surprise exams by outside auditors.
Smith Barney has hit a former adviser with a lawsuit, an arbitration claim and a restraining order, claiming that the rep improperly pursued clients and used confidential information after he resigned from the brokerage arm of New York-based Citigroup Inc. at midmonth.
New York Life Insurance Co. is looking to acquire one or more fund companies, according to one of the company's top executives.
Could the Obama administration be following a weak-dollar strategy deliberately?
Sallie Krawcheck, head of Merrill Lynch's Global Wealth & Investment Management unit, has named a number of top executives to her new management team.
The Charles Schwab Corp's campaign to help stockbrokers become independent investment advisers has been picking up speed.
After focusing their efforts on increasing 401(k) fee disclosure, members of an influential committee last week approved a more comprehensive package of potential retirement reforms.
A key Congressional committee is expected to vote on a proposal - as early as next week - that could potentially bar thousands of brokers from providing investment advice to 401(k) participants, according to sources.
