A day before he and his hedge-fund consulting firm were stung by the Securities and Exchange Commission with $815,000 in fines and penalties, a major figure in the hedge fund world started his own effort to change hedge fund audits.
As Congress prepares to tighten financial regulation to correct weaknesses revealed by the mortgage collapse, the debate over who should regulate those who give in-vestment advice, including financial planners,
OppenheimerFunds Inc.'s hot streak in the Section 529 college savings plan business is coming to an end.
Running a successful family financial advisory business is much tougher than the smiling portraits posted on many firms' websites would lead a client or prospect to believe.
As Congress starts to take up health care reform, a group representing health insurance agents is voicing its dissent over President Obama's call for universal health insurance.
More than ever, state securities regulators face the threat of a diminished role in overseeing the financial services industry.
The two largest organizations of financial planners are looking at ways to give members discounts on several kinds of insurance.
Leaders of Fidelity Investments' adviser and broker-dealer clearing businesses pointed fingers at themselves and at clients last week for retreating from customer contact during the most chaotic periods of their business careers and hinted at changes to come in several key services.
President Obama reached his much-ballyhooed 100-day milestone last week, but most financial advisers were in no mood to celebrate.
The swine flu epidemic has hurt certain segments of the market, such as travel stocks, while others, such as shares of pharmaceutical companies, may get a short-term lift, according to observers.
Tom Turpin, chief executive of Old Mutual Asset Management, has left the firm just months after the firm's parent, Old Mutual PLC, said that it planned a partial initial public offering of the business.
President Obama reached his much-ballyhooed 100-day milestone last week, but most financial advisers were in no mood to celebrate.
U.S. manufacturing activity contracted at a slower-than expected pace in April, raising hopes that the steep plunge that began last fall may be moderating. The performance was driven by a rise in new orders.
Morningstar Inc. yesterday announced first-quarter earnings of $25 million, or $0.51 a diluted share, up from $23.1 million, or $0.47 a share, a year earlier.
American International Group Inc. is considering closing down parts of its mortgage insurance unit following a failure to offload it, Bloomberg reported.
A Denver district court is slated to hear the case Monday of a former employee of Janus Capital Management Group Inc. who charged the firm with breach of contract.
