A retired Michigan couple has filed a securities arbitration claim against Merrill Lynch & Co. Inc. for sales practices that allegedly led to a loss of $650,000.
Insurance carriers and producer groups are balking at a regulatory proposal that would curb commissions for agents and increase the suitability duties of insurance companies.
A former member of the National Economic Council under President Bush has launched a boutique investment advisory firm, according to published reports.
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which was sued last month by the Securities and Exchange Commission for fraud.
The Securities and Exchange Commission has taken the unusual step of opposing what a court-appointed receiver is doing in the massive Ponzi case that involves companies owned by Robert Allen Stanford.
The Municipal Securities Rulemaking Board today proposed new rules aimed at ensuring that municipal bond underwriters honor issuers' wishes to preserve retail investors' access to new bond issues < http://www.msrb.org/msrb1/whatsnew/2009-47.asp>.
The former chief financial officer for Bernard Madoff pleaded guilty Tuesday to conspiracy, admitting to helping Madoff carry out a massive fraud that cost thousands of people billions of dollars by lying to investors and testifying falsely when it seemed the fraud might be discovered.
Mutual life insurance companies fared better than their stockholder-owned counterparts in the recent economic tumult, according to a report from Moody's Investors Service.
Aggressive stimulus spending by governments helped the world avoid a second Great Depression but full economic recovery will take two years or more, Nobel Prize-winning economist Paul Krugman said today.
Total represents a 5% drop from yearend 2008 and is 26% below 2007 peak.
In a positive sign for the job market, the Conference Board Employment Trends Index remained flat last month for the third month in a row, according to data released today.
With the economy strengthening but still fragile, Federal Reserve policymakers are expected to hold a key lending rate at a record low this week and will weigh whether to extend some programs that were created to ease the financial crisis.
Top earners are being given a major reason to look elsewhere
Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody's Investors Service.
Massachusetts regulators sent subpoenas to four brokerage firms July 31 seeking information about the way they sold inverse and leveraged exchange traded funds. The subpoenas were issued weeks after the firms restricted the sale of the products or stopped selling them altogether.
Foothill Securities Inc., an employee-owned broker-dealer, has merged with Cue Financial Group Inc., a smaller independent firm.
A proposal by the Securities and Exchange Commission that would require advisory firms holding custody of client assets to be audited by accountants inspected by the Public Company Accounting Oversight Board would cost each firm an average of $200,000, according to one new estimate.
No wonder investors have lost faith in the stock market.
The Securities and Exchange Commission last week charged Bank of America Corp. with misleading investors about billions of dollars in bonuses that were paid to Merrill Lynch & Co. Inc. executives just before BofA acquired the New York brokerage house in January.
