American International Group Inc. yesterday dismissed as “without merit” a lawsuit filed by two investors who claim the insurer should have covered the losses they suffered because they invested with Bernard L. Madoff.
A securities arbitration claim of $5 million has been filed against Merrill Lynch by a Freeport, Bahamas couple who say the preferred financial company stocks the company sold them were unsuitable, according to the law firm representing the couple.
Two law firms are investigating potential claims on behalf of retail investors who purchased leveraged, inverse and leveraged-inverse exchange traded funds and held them in their brokerage accounts for longer than one day.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
Hold onto your books. Because Management is not what is used to be--Or will be.
Boston's Fidelity Investments spent $940,000 — both directly and via third-party firms – during the second quarter to lobby Washington lawmakers on financial regulatory reform, retirement, taxes and other issues, according to recent filings with the Office of the Clerk of the House of Representatives.
Microsoft's latest operating system will become available to advisers and the rest of the world Oct. 22. The system will grace the shelves of retailers in all its shrink-wrapped glory, but most folks will be buying it pre-installed on new desktop or laptop PCs. Experts believe that the buy-it-installed route is the way most users,
The Financial Planning Association has urged the Securities and Exchange Commission to restrict the Financial Industry Regulatory Authority Inc.'s enforcement power.
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which the Securities and Exchange Commission sued last month for fraud.
A retired Michigan couple has filed a securities arbitration claim against Merrill Lynch & Co. Inc. alleging that improper sales practices led to a loss of $650,000 — the latest example of what some securities lawyers see as a rising tide of claims involving the preferred stock of financial firms.
I like to read important proposed legislation. Actually, I don't so much like it — the text is often mind-numbing — but I make myself do it because I think that it is important.
History is rife with examples of adverse, unintended consequences resulting from well-intentioned lawmaking acting in the face of a crisis.
By definition, prudence involves the exercise of skill and good judgment in the use of resources. It is a core fiduciary duty.
The Department of the Treasury last Tuesday sent to Capitol Hill the final piece of its financial regulatory reform legislation, a 115-page bill aimed at reforming regulation of over-the-counter derivatives.
A former broker with Wells Fargo Advisors LLC of St. Louis has sued the firm for sexual discrimination.
The state of Ohio yesterday reached a $115 million settlement with ex-AIG chief executive Maurice R. “Hank” Greenberg and a handful of former AIG executives in a suit that alleged bid rigging and accounting fraud.
Envestnet unveils tax management overlay; Cabinet NG's document management software updated
Having already added nearly 300 financial advisers in the first six months of the year, Stifel Financial Corp. is now poised to add another 350 new advisers — at least — in the second half of 2009.
Daniel Andersen, a promoter serving time in prison, was permanently barred from marketing fraudulent tax schemes by the U.S. District Court for the Western District of Washington in Seattle.
The Four Remaining Wire Houses Will Succeed or Fail Based on How Well They Address These Three Things
