Morgan Stanley to change pay policies
The firm will change its pay policies to comply with a wage-and-hour lawsuit the firm settled last year.
White House backpedals growth forecast
The White House toned down its forecast for economic growth for 2008, but still predicted "solid growth" throughout the year.
Putnam announces CIO departure
Josh Brooks, chief investment officer for large-cap equities at Putnam Investments, is leaving the firm.
Sigma CCO charged with child molestation
Michael John Brooks is charged with four counts of second degree criminal sexual misconduct.
New fund investing in infrastructure
Kensington Investment Group Inc. in Orinda, Calif., makes a strong case for being uniquely suited to manage the first open-end mutual fund focused on the development and reinforcement of a worldwide infrastructure.
Advisers rethink estate planning
With no permanent repeal of the estate tax in sight, advisers are appeasing worried clients by putting new twists on old estate-planning tools.
Aiming to solve the puzzle of active ETFs
Bringing to market actively managed exchange traded funds has proved to be an elusive goal, but at least six managers think that they have the secret formula to make these vehicles work.
New opportunities for infrastructure investors
Renewed government confidence in privatization and a robust secondary market could create new homes for committed capital waiting to be invested in infrastructure, according to a study by Ernst & Young LLP.
Community Leadership Awards
Ken Clark, Barry Glassman, Gerry Strid and Arnerich Massena & Associates Inc. were named winners of the 2007 Community Leadership Awards, which were presented by the Invest in Others Charitable Foundation and InvestmentNews, late last month in New York.
Toronto bank to buy Commerce Bancorp
TD Bank Financial Group of Toronto will acquire Commerce Bancorp Inc. for $8.5 billion in an effort to expand its presence in the United States.
Capital gains rules eyed
Companion bills renew a past congressional attempt to make it harder for taxpayers to avoid paying capital gains taxes on certain investments.
Bill seeks restrictions on COLI policies
Corporate-owned life insurance would face new restrictions under a bill sitting in a House subcommittee.
Capital-gains parity for art at a standstill
Several measures that would put art and collectibles’ tax treatment on par with other investments are sitting in committee.
Principal trades still OK
Securities regulators voted last month to adopt a temporary rule allowing brokers with non-discretionary advisory accounts to continue making principal trades.
Broker exception for banks gets nod
The SEC and Federal Reserve last month approved rules that will allow banks to continue selling some securities products and services without registering as brokers.
Deferred VA rule gets nod
The Securities and Exchange Commission last month approved a FINRA rule governing the sale of deferred variable annuities.
Deadline looms for redemption-fee rule
The deadline is approaching for financial firms to comply with an SEC rule intended to curb market timing and abusive transactions in mutual funds.
SEC seeks more input on hedge-fund minimums
Securities regulators are seeking additional input on their controversial proposal to change the minimum net-worth requirements of hedge fund investors.
Anti-fraud rule in effect
A rule took effect Sept. 10 that clarifies the SEC’s ability to go after hedge fund advisers who make false or misleading statements to investors.
SEC proposes easing accounting rules on foreign firms
The SEC has issued a proposal to relax accounting regulations for foreign firms that trade on U.S. exchanges.
