This is "one of the most challenging economic and policy environments in memory,” the Fed chief said today.
Penn Treaty American’s reinsurer has withdrawn its agreement to back long term care policies written by two subsidiaries.
Aon Corp., the world’s largest insurance broker, will acquire Benfield Group for $1.75 billion.
Two proposed rules are designed to enhance access to financial advisers by DC participants and IRA holders.
The index of leading indicators, which gauges the economic outlook for the next three to six months, fell 0.7%.
Don Saxon leaves amid allegations that his agency let thousands of convicted criminals work in the mortgage business.
The New York-based firm has chosen Vanessa A. Wittman as its new finance chief and executive vice president.
Limra International Inc. today added Lawrence J. Niland to its compliance and regulatory services division.
Attorney General Andrew Cuomo this afternoon announced settlements with Merrill Lynch, Goldman Sachs and Deutsche Bank on the sale auction rate securities.
Beginning Oct. 15, Merrill Lynch will buy back about $2.1 billion in auction rate securities.
The SEC chairman said investigations will go beyond the banks and include the brokerages that sold the investments.
The firm saw net income slip to $49.6 million from $55.8 million in the year-ago period.
Goldman Sachs, Morgan Stanley and Lehman Bros. had their earnings estimates slashed by Sanford C. Bernstein & Co.
Confidence among global institutional investors declined this month, led by a steep drop among North American investors.
The cost of doing business increased to a 26-year high while housing starts crumbled to a 17-year low.
Many of the country's largest companies expect corporate charitable giving to remain flat or decrease this year.
The repurchase of some $35 billion in ARS is not expected to have a material financial impact, banks say.
Fifty-eight percent of RIAs expected the S&P 500 to gain ground, compared with 46% who felt that way in January.
Auction rate securities cases have spawned a new arbitration procedure that relies on a single public arbitrator to hear cases brought by investors who allege "consequential damage" claims from ARS.
After losing costly battles with three former brokers last month, Banc of America Investment Services Inc. is now on the hook for $1.63 million.
