An insurance group lauds a proposal requiring the SEC to merely examine a single standard of care. And what will come of the study? Not much, says a consumer advocate.
BP Plc was sued by an ex-employee over losses to the company's retirement plan caused by the Gulf of Mexico oil rig explosion and subsequent spill.
The proposal clarifies that the funds are insurance products that should be overseen by states rather than securities that should be regulated by the Securities and Exchange Commission.
Mr. Harkin's amendment would clarify that these funds are insurance products that should be overseen by states rather than the Securities and Exchange Commission.
A New Jersey woman was charged with directing a $45 million real estate Ponzi scheme that allegedly defrauded more than 20 investors in New York and New Jersey.
The U.S. Securities and Exchange Commission sued two Canadian men, accusing them of running a $300 million Ponzi scheme that promised returns of as much as 36 percent on investments in gold-mining companies.
The Department of Labor's unprecedented move to ask if 401(k) plan advice models should favor passively managed funds over actively managed ones has advisers alarmed that the choice of funds they can recommend to clients will be restricted.
The Geller Group LLC, a New York retirement plan administrator and registered investment adviser, has confirmed in internal memoranda that it is being investigated by the Labor Department.
The Labor Department is investigating Geller Group LLC, a retirement plan administrator and registered investment adviser, for failing to disclose alleged ties to an accounting firm it recommended as an auditor and for other possible violations, according to former employees and others close to the investigation.
Under the rule, if an investment adviser or certain employees of an advisory firm contribute to a politician with influence over hiring, they cannot be paid by the pension fund for two years.
Standard of care takes center stage on Capitol Hill amid a flurry of offers, counteroffers, and counter-counteroffers. Right now, House-Senate negotiators appear to be locked in a stalemate.
The Financial Industry Regulatory Authority Inc. is actively investigating broker-dealer underwriters of subprime securities, a Finra official said this morning at the regulator's national conference in Baltimore.
Rational markets? Hardly. In reality, humans tend to have a narrow focus -- often missing the obvious
As soon as he heard that 13-year-old Margaret Hurt was in danger of losing the horse she had been riding since becoming sick with leukemia two years ago, Preston Byers agreed to donate $6,000 to help her buy Hoochie.
Listed as a "monument to unparalleled success," the largest home for sale in the United States comes with plenty of space but no carpet, tiles or interior walls. It's up to the future buyer to finish it.
A small provision buried in both the House and Senate versions of financial-reform legislation is being hailed by some as a modest but important step for the financial planning industry.
High-net-worth investors in the U.S. are more pessimistic about the economic recovery than wealthy individuals in many other nations, according to survey released today by Barclays Wealth.
Credit-default swaps broker Phoenix Partners Group and brokers who worked at four other firms including Tullett Liberty Inc. and Creditex Group Inc. will pay $4.3 million to settle claims that they attempted to fix fees.
