Legislation that would allow the victims of the Bernard L. Madoff Securities LLC fraud to receive refunds for the taxes they paid on phantom profits was introduced today by Rep. Gary Ackerman, D-N.Y.
The National Association of Insurance Commissioners has released a list of carriers that have applied for a special accounting treatment aimed at helping them raise capital and surplus.
At least one executive of a bank that is receiving federal bailout money stands to earn tens of millions of dollars if his company rebounds, according to a report released yesterday by The Corporate Library.
Advisers need to bolster their sales efforts to snag new clients since most advisory firms’ sales are down 10% to 40%, one industry expert told advisers at the Financial Planning Association’s Business Solutions conference at the Chicago Westin.
Your wealthy client, age 72, has a sizable individual retirement account and is wondering whether to make charitable contributions from the IRA in 2009.
Investment advisory firms should be able to hold custody of client assets so long as advisory functions are separated from custodial functions, according to the Investment Adviser Association.
America's financial regulatory system must be overhauled to strengthen oversight of banks, mutual funds and large financial institutions, Federal Reserve Chairman Ben Bernanke said Tuesday.
Investors continued to put money into their 401(k) plans last year despite the market turmoil, according to a study released today.
President Obama's proposed budget for the 2010 fiscal year and projections for the next 10 years provide a clear road map for financial planners and investment advisers.
Since the market has devastated portfolios, many investors find themselves with substantial capital losses.
The Financial Industry Regulatory Authority Inc. has created the Office of the Whistleblower to expedite the review of “high-risk” tips.
Advent Software Inc., a software and services provider to investment managers, has launched a new version of Tamale RMS, which centralizes data.
House Financial Services Committee Chairman Barney Frank called yesterday for creating an optional federal charter for life insurance companies.
Massachusetts Secretary of State William Galvin’s securities division asked wants to revoke the license of a brokerage firm which served as a feeder fund for the investment firm of accused swindler Bernard Madoff.
The Securities and Exchange Commission on Wednesday settled a charge that 14 trading firms cheated customers out of millions of dollars.
Federal banking regulators knew as far back as 2002 about problems at First National Bank Holding Co.’s banks in Arizona, California and Nevada but failed to act until shortly before their demise last year, auditors said today.
UBS AG official on Wednesday will face questions from a Senate panel for the first time since the bank acknowledged helping tens of thousands of American clients hide assets from the U.S. government.
The mutual fund industry today called for combining the Securities and Exchange Commission and the Commodity Futures Trading Commission into a one entity.
The Department of the Treasury and the Federal Reserve today launched a program designed to increase lending to consumers and small businesses.
