State insurance and securities regulators yesterday appealed to members of the Senate for tougher oversight of life settlement transactions in order to curb abuse of senior citizens.
Stock futures are indicating a lower opening on Wall Street following declines in overseas markets after the Federal Reserve indicated it would start pulling back some emergency supports.
Mutual funds could invest directly in commodities under legislation introduced Wednesday by House Ways and Means Committee Chairman Charles Rangel, D-N.Y., and Select Revenue Measures Subcommittee Chairman Richard Neal, D-Mass.
A rising dollar and disappointing corporate forecasts pushed stocks lower and Treasurys higher on Thursday.
Bank of America's board is meeting to discuss potential replacements for CEO Ken Lewis who has said he plans to leave by the end of the year.
Bank of America is having such a hard time finding a new CEO that some analysts are wondering if Ken Lewis might have to stay past his planned Dec. 31 departure.
The five new management firms will add 12 strategies to the Covestor platform's mix of 46 investment strategies.
Stock futures are indicating a higher opening on Wall Street Wednesday ahead of data on consumer prices and housing and the Federal Reserve's decision on interest rates.
Federal regulators voted Wednesday to require companies to reveal more information about how they pay their executives amid a public outcry over compensation.
It's been a long, dry spell for many of the suit-clad Wall Streeters who were handed their pink slips before hardly anyone was talking recovery. But sit down with a handful of ex-finance industry workers volunteering to work for free as interns in a city-sponsored retraining program, and they seem almost ... happy.
Stocks rose in early trading Wednesday following a benign reading on consumer inflation and a rebound in housing starts.
Wells Fargo & Co. today said that it would buy up Prudential Financial Inc.'s minority stake in Wells Fargo Advisors LLC, shelling out cash for the purchase.
Americans are more likely to turn to family members and friends — rather than advisers — for financial advice, according to data from Sun Life Financial Inc.
Easygoing Charles Johnston does not have the celebrity star power of the executives who run the other brokerage houses on Wall Street.
Sweeping regulations to tame Wall Street and protect consumers in dealings with lenders are on the verge of passing the House but their fate is hardly sealed.
It appears likely that Congress will punish the Federal Reserve for its role in the financial crisis by taking away some of its independence and responsibilities. The legislators are scapegoating.
The SEC is backpedaling on a proposal that would require advisory firms that deducted fees from client accounts to undergo costly surprise audits.
The economic downturn is hurting the associations that represent financial planners, investment advisers and big brokerages.
Opposition is mounting to proposed legislation — which is scheduled for a vote in the House tomorrow — that would harmonize regulations governing broker-dealers and investment advisers.
Large brokerage firms that are part of bank holding companies could be forced to review their compensation arrangements for brokers and advisers as a result of a pay proposal put forward Thursday by the Federal Reserve Board.
