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.
Forget the frankincense and myrrh, gold hoard hits record level
Most analysts see no end in sight to rise in price of bullion; copper's a different story
Bragging rights: The most financially savvy states
New Hampshire and Alaska are home to the most financially savvy residents in the United States.
Social-media ETF launched by Global X Funds
I knew it would happen soon or later. Today marks availability of what I believe is the…
Nuclear-power stocks suffer meltdown in wake of Japan quake
But alternative-energy shares getting a boost from renewed fears about atomic energy.
Risks rising as realty firms buy from, sell to one another
Real estate money managers are becoming the dominant buyers and sellers in the commercial real estate market, increasing the likelihood that institutional investors could have exposure to both sides of a single transaction.
Unregistered adviser sold unregistered securities despite cease-and-desist
Texas regulators say Byrne ignored order issued in 2005
Hartford sells private-placement life ops, refocuses
The Hartford Financial Services Group Inc. has sold its private-placement life insurance operations
Lincoln National’s universal life reserves are ‘more than adequate’: CEO
Lincoln National Corp.'s CEO today stressed that the insurer has sufficient reserves for its universal life products
State halts sales of underwater college savings plan
Illinois stops accepting new participants due to gap in funding
