The severe market downturn is wreaking havoc on an independent-broker-dealer industry, putting all sources of income under siege and flattening already thin profit margins.
Many commentators in recent weeks have said that one of President Obama's first priorities must be to restore public confidence.
Gemini Fund Services will offer ReFlow Management’s redemption service to small and midsize mutual funds. The service will be integrated into Gemini’s transfer agency services, providing clients with direct access to the service.
The Securities and Exchange Commission’s Office of Economic Analysis has extended the deadline for public companies to participate in a web-based survey about the costs and benefits of Section 404 of the Sarbanes-Oxley Act of 2002.
Arbitrations that involve auction rate securities are about to be tested in new hearing procedures established by the Financial Industry Regulatory Authority Inc.
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.
Bernard Madoff was able to pull off what is allegedly the largest investor fraud in history because people trusted him.
On the surface, Mary L. Schapiro has all the credentials to be an outstanding chairwoman of the Securities and Exchange Commission, as she has unparalleled experience as a securities regulator.
Reps at both Smith Barney and Morgan Stanley, as well as other industry observers, see a long slog ahead for the new joint venture between the two firms.
The Depository Trust & Clearing Corp. is expanding the data its DTCC Deriv/SERV unit generates about credit default swaps.
The Office of Management and Budget has cleared a Department of Labor rule that will allow financial advisers affiliated with mutual funds and brokerage firms to provide direct investment advice to 401(k) plan participants.
The new combination provides an “unmatched global platform,” the firms said, with $1.7 trillion in client assets and more than 20,000 reps.
The moves reflect Mr. Obama’s desire to have the money available shortly after he takes office Jan. 20, Tommy Vietor, spokesman for the office of the President-elect, said in an interview yesterday.
The bear market and recession that began late in 2007 are perhaps barely half over, but it isn't too soon for financial planners and investment advisers to begin preparing clients for the aftermath of government efforts to halt the crisis.
