The Federal Reserve's chairman and the secretary of the treasury are making a rare joint appearance at a congressional hearing, to take a scolding over AIG.
Only advisers who are independent of mutual funds, brokerage firms, insurance companies and other entities that sell financial products could give advice on individual retirement accounts if House Health, Employment, Labor and Pensions Subcommittee Chairman Rob Andrews, D-N.J., has his way.
The Obama administration launched a new effort Monday to end a paralysis in lending, saying it will team with investors to sop up a half-trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies.
The Obama administration says it hopes a new bank rescue initiative will generate $500 billion in purchasing power to buy up toxic assets from banks.
The Securities and Exchange Commission's move to expand its examinations of advisory firms to include going directly to clients for verification of their assets managed by advisers raises legitimate concerns.
As Florida weighs proposed legislation that could make it easier to toss annuity salespeople into prison, agents and the insurance industry are rallying to fight the bill.
Arguing that they can do more than federal agencies with less, state securities regulators today asked Congress to consider giving federal grants to state securities divisions.
The SEC yesterday charged a former New York deputy comptroller and a top political adviser with allegedly extracting millions of dollars in kickbacks from money managers.
A bill has been introduced in the House that would impose stricter rules on how credit card companies set interest rates and charge fees to consumers.
New Jersey Attorney General Anne Milgram said yesterday that her office is spearheading an investigation into the bonuses paid to workers’ at American International Group Inc.’s financial-products unit.
The federal budget deficit for the current year will top $1.8 trillion under the latest estimates produced by congressional economists, say Capitol Hill aides briefed on the figures.
European Union leaders on Thursday insisted they were spending enough to dig out of the recession, with the EU presidency saying an additional stimulus package "is a deadly idea."
The BISA-Singer Bank Brokerage Index dropped 10% in the fourth quarter, the Bank Insurance and Securities Association announced yesterday.
Sales of variable annuities fell in the fourth quarter as premium flows hit $33.3 billion, according to data from NAVA Inc.
New jobless claims fell more than expected last week, to a seasonally adjusted 646,000.
Although older baby boomers account for the majority of individual long term care insurance sales, it is largely younger boomers and those under 45 who buy group LTC insurance.
Financial advisers said that clients increasingly consolidated their assets during the market decline, according to a survey released today by Fidelity Investments.
Companies receiving taxpayer funds under the Troubled Asset Relief Program would be subject to major taxes on executive bonuses under a proposal unveiled Tuesday.
U.S. consumer prices rose in February by the largest amount in seven months as gasoline prices surged again and clothing costs jumped the most in nearly two decades.
