Religious order sues State Street, SSgA over losses
Sisters of Charity of the Blessed Virgin Mary, Dubuque, Iowa, has filed a civil suit alleging breach of fiduciary duty, breach of trust and unjust enrichment regarding losses from the order’s investment in an SSgA enhanced Dow Jones-AIG Commodities futures strategy.
Mercer, Callan pull plug on merger
Mercer and Callan Associates halted plans to merge their investment consulting businesses, according to a Callan news release.
Fed to buy up to $300B long-term Treasury bonds
The Federal Reserve announced Wednesday it will spend up to $300 billion over the next six months to buy long-term government bonds, a new step aimed at lifting the U.S. out of recession by lowering rates on mortgages and other consumer debt.
Helmsley Trust ruling means less for dogs
A recent court ruling has paved the way for the bulk of the Leona M. and Harry B. Helmsley Charitable Trust to be spent on charitable efforts, not on dogs.
B-D firms worry about increased audit costs
Broker-dealer firms are worried about increased audit costs in the wake of the Bernard Madoff scandal.
‘Independent-contractor’ debate brews
The independent contractor status of the 140,000-plus registered representatives who work as brokers affiliated with broker-dealers is likely…
Group launches index of actively managed funds
The National Association of Active Investment Managers Inc. has launched an index of actively managed mutual funds that performed well during last year’s market downturn.
Infrastructure funds gamble on increase in projects
Infrastructure projects are in¬creasing globally as a way for countries to dig out of an economic slump, and…
Morningstar unveils gov’t-backed bond index
The genesis of the index is the Temporary Liquidity Guaranty Program created by the Federal Deposit Insurance Corp., which allows bank holding companies to issue senior unsecured debt guaranteed by the U.S. government.
Trend fund turns focus to infrastructure
A rocky history notwithstanding, the U.S. Global Investors Global Mega Trends Fund (MEGAX) hopes to turn the corner in 2009 by focusing heavily on infrastructure-related investing.
SIPC could level first hefty assessment since 1995
The brokerage industry may have to pony up as much as $1 billion to replenish the Securities Investor Protection Corp. fund, should SIPC's liquidation of Bernard L. Madoff Investment Securities LLC of New York deplete its reserves.
January Week 3: Identifying your top five retirement services
Start by identifying your top five retirement services. These may include IRAs, Keogh plans, long term care insurance, retirement income reviews, referrals to estate planning attorneys, annuities and others.
Wells unveils management lineup for Wachovia Securities
In an internal announcement Tuesday, Wells Fargo & Co. laid out top management appointments for its expanded brokerage businesses following its merger this month with Wachovia Corp.
Lehman looks to exit bankruptcy by 2011
But the former Wall Street giant will need to assert more international coordination to meet this goal, a federal judge emphasized yesterday in a court hearing.
Meet Morgan Stanley Smith Barney
The new combination provides an “unmatched global platform,” the firms said, with $1.7 trillion in client assets and more than 20,000 reps.
SEC mulls enforcement action against Reserve
Staff at the SEC’s Division of Enforcement has informed Reserve Management that it intends to recommend that the SEC bring an enforcement action against the company for violating federal securities laws.
Advisory firms retain their M&A allure
Demand to buy financial advisory firms remains strong despite a drop in the value of assets under management and turmoil in the financial markets.
RIA Giant Profile: G. Moffett Cochran
The CEO of Silvercrest Asset Management talks about the firm and offers advice to young advisers.
Top 50 fee-only registered investment advisers ranked by growth in discretionary assets under management
Top 50 fee-only RIAs - InvestmentNews research.
Mavericks’ Cuban blogs his innocence
Entrepreneur Mark Cuban, owner of the NBA's Dallas Mavericks, is defending himself on his website against insider trading charges that the SEC levied against him this week.
