A New Jersey-based financial adviser has admitted operating a scheme that defrauded investors of more than $9 million.
Stocks slid in early trading Wednesday after a report showed housing starts dropped unexpectedly in October.
Nebraska officials say two related Omaha companies have been improperly selling unregistered investments promising as much as a 1,000 percent annual return.
With the Labor Department stepping up scrutiny of conflicts of interest and fee disclosures, broker-dealers are becoming concerned about how their reps handle rollover assets from 401(k) plans.
William Blair & Co. LLC and two ex-brokers at the firm have been socked with a $1.1 million arbitration decision that centered on two brokers' setting up a phony e-mail address where they sent statements from the brokerage account of an 88-year-old widow.
The Phoenix Cos. Inc. last week drafted a reinsurance agreement with a subsidiary of Swiss Re, improving the carrier's risk-based capital ratio.
U.S. insurers may improve their financial flexibility as state insurance regulators change the way they evaluate capital requirements for residential-mortgage-backed securities, according to a report from Moody's Investors Service.
Sex, violence and stranger-originated life insurance are at the center of a new novel, “The Death Bond Conspiracy,” written by an unusual author — an insurance agent.
Merrill Lynch & Co. Inc. will pay Florida $8.5 million to settle claims that the brokerage firm's financial advisers misled their clients about auction-rate securities, according to a <a href=http://www.orlandosentinel.com/business/orl-biz-merrill.settles-090109,0,4894709.story>report</a> in the Orlando Sentinel.
Kansas has received a total of $5 million from multistate settlements with four investment companies.
The Charles Schwab Corp. today said it will not meet New York Attorney General Andrew Cuomo's demand that it repurchase auction rate securities from clients that purchased them from the discount-brokerage firm, even though its exposure to a buyback is relatively limited.
The Securities and Exchange Commission today said that it has settled charges against TD Ameritrade Holding Corp. Inc. for making inaccurate statements when selling auction rate securities. Also today, Charles Schwab & Co. denied charges by Attorney General Andrew Cuomo that the firm misrepresented the safety of such securities.
Swiss tax authorities said Tuesday they have notified the first 500 clients of Swiss bank UBS AG whose names they want to hand over to the United States for alleged tax cheating.
State and federal prosecutors have charged seven people in an alleged securities scam that cheated dozens of people out of $17 million.
Finra has opened up its checkbook to lobby Congress for authority over investment advisers.
A senior House Democrat said Tuesday the government didn't force Bank of America to take over Merrill Lynch, but Republicans charged that a committee inquiry was covering up the role of an Obama administration official.
The Obama administration has formed a new task force to target financial fraud — replacing an earlier corporate fraud task force.
A key state insurance official has called upon the life settlements industry to keep Main Street policyholders in mind — or else.
