Buffett no match for S&P 500 in 2011
Warren E. Buffett, the billionaire investor known for his record of beating the market when stocks languish, oversaw a decline in his company's value last year as the S&P 500 ended unchanged.
John Hancock latest to yank annuity offerings, pare distribution
Under pressure from a challenging economic environment, John Hancock Life Insurance Co. has pulled back on its annuity distribution and expects to withdraw an array of fixed, variable and immediate annuities
SEC hits radio personality with fraud charges
The SEC last month slapped a financial adviser and radio personality known as “The MoneyMan” with fraud charges after his firm encouraged clients to invest in promissory notes linked to a company with which he was associated
Former E-Trade CEO leads management buyout of Jefferson National
Caplan oversees $83 million acquisition of flat-fee VA seller; targets RIAs
U.S. may be entering another recession, Roubini says
Economist Nouriel Roubini said the U.S. economy could be entering another recession just as policymakers' options dwindle and the European debt crisis looms
Securities America reps see closure in settlement
A federal judge's approval this month of a class action settlement is good news for representatives from Securities America Inc. whose disgruntled clients named them in arbitration complaints over sales of private placements that went bust.
Brokers bilked investors out of $36M selling CMOs, SEC charges
The Securities and Exchange Commission today charged 10 brokers who worked for the former Brookstreet Securities Corp. of Irvine, Calif., with fraud.
Schwab faces uphill battle in court over fund losses
Charles Schwab & Co. Inc. is likely to lose this week when a California federal judge hears a motion appealing a ruling in a class action that, if left standing, would give mutual fund investors a new line of attack against underperforming funds, fund industry attorneys said.
Indie status of reps in Calif. could have wide implications
A battle in California over whether representatives at two broker-dealers are employees or independent contractors could have far-reaching implications at independent broker-dealers across the country
Lawyer bet on terminally ill to gain their death benefits: U.S. Attorney
Caramadre faces indictment over alleged scheme that purportedly sought out those with less than six months to live; lawyer says 'insurance industry upset it got beat at its own game'
Exotic strategies a mixed bag for target funds
Mutual fund managers' use of exotic strategies, including leverage and derivatives, so far is yielding varying performance and…
Emerging hedge fund performance questioned
Emerging-hedge-fund managers are getting more attention from institutional investors because they tend to produce better returns than larger, more established funds, but industry insiders disagree about the extent of the outperformance.
Scott Rothstein cops to operating $1.2B Ponzi scheme
A disbarred attorney who courted politicians and star athletes and led a flamboyant lifestyle even by flashy South Florida standards pleaded guilty Wednesday to federal charges that he ran a $1.2 billion Ponzi scheme.
Rothstein Ponzi victims may get paid back in AmEx points
A Florida lawyer charged in a $1.2 billion fraud apparently heeded the American Express slogan "Don't leave home without it."
Accused Ponzi schemer’s Ferrari, Rolls Royce get special protection
A federal judge is making sure nothing happens to assets seized from a South Florida lawyer charged with operating a $1 billion Ponzi scheme.
Shlomo Benartzi: What makes people tick? He probably has an idea
Shlomo Benartzi has always had a knack for figuring out what motivates people. For example, when he was in elementary school in Israel, he quickly figured out how to escape the boredom of a typical math class.
