The Department of Labor today delayed implementation of a rule that would have allowed most investment advisers to give specific advice to 401(k) participants.
Iowa’s insurance commissioner yesterday posted a bulletin that would allow life insurers in that state to apply deferred tax assets toward 15% of their statutory capital and surplus levels.
ING Groep has sold off its 70% stake in its Canadian property/casualty unit, ING Canada Inc., in an attempt to bulk up its balance sheets.
Employers eliminated 650,000 jobs last month, bringing the total number of job cuts in the United States since September 2008 to 2.3 million.
Aviva announced that full-year 2008 life insurance and pension sales hit a company record of 11.9 billion pounds ($17.2 billion) in the United Kingdom.
Three former brokers, who were first with UBS Financial Services Inc. and then with Merrill Lynch & Co. Inc., have been barred from working in New Jersey.
Congress will consider legislation to extend some of the curbs on executive pay that currently apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.
The National Association of Active Investment Managers Inc. has launched an index of actively managed mutual funds that performed well during last year’s market downturn.
Piper Jaffray & Co. today reported a $153.3 net loss, or a loss of $9.78 diluted earnings per share, for the fourth quarter.
Americans cut back on spending by 1% in December, and increased personal savings by 3.6 %, in response to concerns about job security and economic stability, according to a Department of Commerce report released today.
Given the market downturn, it may appear to investors that there are screaming buys, but investment managers are largely staying defensive, with many favoring the consumer staples category.
No required minimum distributions for 2009
The nomination and confirmation of Timothy Geithner as Treasury secretary was a mistake that will weaken the U.S. income tax system.
A National Association of Insurance Commissioners executive group last Thursday vetoed a proposal from the insurance industry to loosen required capital and surplus levels.
The departure of Ellyn McColgan after just 10 months as president and chief operating officer of Morgan Stanley's Global Wealth Management Group robs the company of some much-needed client service talent, a consultant said.
Advance estimates for 2008’s fourth-quarter gross domestic product — the output of goods and services produced by labor and property located in the United States — show a decrease of 3.8% from the third quarter, according to the Bureau of Economic Analysis.
The 529 college savings plan industry’s two advocacy organizations are taking steps to work more closely on 529 legislative issues in Washington.
The troubles that hit variable annuity insurers last year will follow them into this year, further denting their financial strength, according to a report from Standard and Poor’s in New York.
The 529 college savings plan industry will face “a period of challenge” in Washington this year, according to veteran industry consultant James Delaplane, an attorney based in the capitol.
