The British Bankers' Association said the rate on three-month loans in dollars — known as the London Interbank Offered Rate, or Libor — was down 0.01 of a percentage point to 0.61 percent.
Sun Life Financial Inc. today said that it will buy Lincoln National Corp.’s business in the United Kingdom for about $318.6 million.
American International Group Inc. and its former chairman and chief executive, Maurice “Hank” Greenberg, have a court date today related to a fight over a block of AIG shares that was sold for $4.3 billion.
Standard and Poor’s Ratings Services has raised its outlook on TARP recipients The Hartford (Conn.) Financial Services Group and Lincoln National Corp.
The Office of the Illinois State Treasurer may reach a settlement with OppenheimerFunds Inc. by the end of this month to recover $77 million for the state’s Bright Start College Savings Program as a result of losses from the Oppenheimer Core Bond Fund last year.
City National Corp., the bank holding company that owns Convergent Capital Management LLC, has agreed to buy a majority interest in Lee Munder Capital Group, a firm with more than $3 billion in assets under management.
A sprawling case of alleged securities fraud involving an independent broker-dealer and two brokers may wind up costing an insurance company $10.3 million.
The “liquor indicator” is showing that consumers are still worried about losing their jobs.
A “mockumentary” film to be released on DVD this month takes on Ponzi schemes, multilevel marketing scams and “the get-rich-quick mindset that nearly bankrupted America,” according to its official website.
Despite the intense scrutiny on executive compensation by legislatures and regulators, major brokerage firms continue to offer generous recruitment packages to top brokers.
Two-thirds of affluent parents with children under 18 aren't using Section 529 college savings plans, according to a report by The Phoenix Cos. Inc.
Rydex Investments, now Rydex SGI, is repositioning itself to focus on an expanded set of asset management capabilities.
As new annuity rules continue to develop, chief compliance officers at broker-dealers say that they still face some challenges in implementing compliance procedures with their financial advisers.
As Congress takes up health care reform, too little attention is being paid to long term care.
Executives of Pershing, the largest provider of clearing services to broker-dealers, spent much of their energy at the firm's annual Insite conference trying to persuade clients to open their brokerage doors to fee-based registered investment advisers.
Something must be done to encourage employees of small companies to save for retirement. As many as 78 million such workers aren't saving for the future and ultimately will depend solely on Social Security for retirement income.
Keith Gregg, former president and chief executive of First Allied Securities Inc. of San Diego, is suing the firm, claiming that he was forced out after complaining about improper practices at the company. Officials at the firm deny the charges and were set to answer the complaint and file a counterclaim against him today.
The Financial Industry Regulatory Authority Inc.'s proposal to widen its purview to include non-securities products has left some in the fixed-annuities industry gnashing their teeth.
The Obama administration's sweeping proposal to tighten financial regulation is unlikely to press for the formation of a self-regulatory organization to oversee investment advisers.
Pershing LLC, the largest provider of back-office services and financing to small and independent broker-dealers, this month began charging shareholder servicing fees to brokers and financial advisers who buy certain mutual funds from its Fund Center platform.
