Thousands of anxious clients with accounts in companies controlled by Texas financier R. Allen Stanford, who is accused by the Securities and Exchange Commission of running an $8 billion fraud scheme, received long-awaited good news from a federal judge in Dallas yesterday.
Advisers are agitated by the SEC’s decision to expand its examinations of advisory firms to include contact with clients.
Suspending mark-to-market accounting would improve the credit system, Robert Reynolds, chief executive of Putnam Investments, said today.
Bernard Madoff pleaded guilty Thursday to an epic fraud that robbed investors worldwide of billions of dollars, avoiding eye contact with swindled investors before he was led out of court with his hands cuffed behind his back.
The official in charge of the Treasury's $700 billion bailout program for the financial sector warns Congress that the government should not force banks to make loans that bankers may deem risky.
A recent court ruling has paved the way for the bulk of the Leona M. and Harry B. Helmsley Charitable Trust to be spent on charitable efforts, not on dogs.
Legislation that would allow the victims of the Bernard L. Madoff Securities LLC fraud to receive refunds for the taxes they paid on phantom profits was introduced today by Rep. Gary Ackerman, D-N.Y.
The National Association of Insurance Commissioners has released a list of carriers that have applied for a special accounting treatment aimed at helping them raise capital and surplus.
At least one executive of a bank that is receiving federal bailout money stands to earn tens of millions of dollars if his company rebounds, according to a report released yesterday by The Corporate Library.
Advisers need to bolster their sales efforts to snag new clients since most advisory firms’ sales are down 10% to 40%, one industry expert told advisers at the Financial Planning Association’s Business Solutions conference at the Chicago Westin.
Your wealthy client, age 72, has a sizable individual retirement account and is wondering whether to make charitable contributions from the IRA in 2009.
Investment advisory firms should be able to hold custody of client assets so long as advisory functions are separated from custodial functions, according to the Investment Adviser Association.
America's financial regulatory system must be overhauled to strengthen oversight of banks, mutual funds and large financial institutions, Federal Reserve Chairman Ben Bernanke said Tuesday.
Investors continued to put money into their 401(k) plans last year despite the market turmoil, according to a study released today.
President Obama's proposed budget for the 2010 fiscal year and projections for the next 10 years provide a clear road map for financial planners and investment advisers.
Since the market has devastated portfolios, many investors find themselves with substantial capital losses.
The Financial Industry Regulatory Authority Inc. has created the Office of the Whistleblower to expedite the review of “high-risk” tips.
Advent Software Inc., a software and services provider to investment managers, has launched a new version of Tamale RMS, which centralizes data.
House Financial Services Committee Chairman Barney Frank called yesterday for creating an optional federal charter for life insurance companies.
