Proposed IRS rules would allow employers that made automatic 401(k) plan contributions under a safe-harbor provision to suspend or reduce those contributions if they incurred a substantial business hardship.
In what may be a reprieve for advisory firms, Securities and Exchange Commission Chairman Mary Schapiro seems to have backed off from an idea that would require some advisory firms to face third-party compliance procedure audits.
Broker-dealers may face higher costs connected with customer disputes if revised legislation that would do away with mandatory securities arbitration passes both houses of Congress and is signed into law.
The Securities and Exchange Commission is considering a list of regulations for money market funds that goes far beyond proposed reforms issued in March by the Investment Company Institute.
Federal regulators have sued a defunct California investment brokerage and its former CEO, accusing them of fraud in selling more than $300 million worth of risky mortgage-backed securities to unsophisticated investors.
Two-thirds of investors believe that target date funds need to be combined with other funds to achieve a proper mix for their retirement portfolios, a white paper released yesterday by Janus Capital Group Inc. of Denver suggests.
The U.S. economy sank at a 5.7 percent pace in the first quarter as the brute force of the recession carried over into this year. However, many analysts believe activity isn't shrinking nearly as much now as the downturn flashes signs of letting up.
Variable annuity net sales rose nearly $1 billion from the fourth quarter of 2008 to the first quarter of 2009, according to a report released today by NAVA Inc., a Reston, Va.-based VA trade group.
Eric R. Dinallo is resigning as superintendent of the New York state Insurance Department, effective July 3, to become the Henry Kaufman visiting professor of finance at New York University’s Stern School of Business.
Giving by community foundations reached a record level last year, but is expected to decline in 2009, according to a report released yesterday by the Foundation Center, a New York-based non-profit service research organization focused on philanthropy.
A late day shot of adrenaline has sent stock prices soaring and given the big market indexes their third straight monthly gain.
As it grapples with major changes, GunnAllen Holdings Inc. has bought an independent broker-dealer.
Arthur J. Samberg, founder, chairman and CEO of hedge fund manager Pequot Capital Management, today told clients he will shutter the firm, close its core funds and spin out two funds into separate businesses, according to a client letter obtained by Crain's Pensions & Investments.
The government says the tally of newly laid-off people seeking jobless benefits fell last week, a sign that companies are cutting fewer workers.
Private coverage for the average individual costs an extra $370 a year because of the cost-shifting, which happens when someone without medical insurance gets care at an emergency room or elsewhere and then doesn't pay.
Pat Robertson — the controversial founder of The Christian Broadcast Network — is attempting to answer the prayers of investors who are fast losing faith in their advisers.
Fixed annuities continued to outsell their variable counterparts in the first quarter, according to data from LIMRA International Inc. of Windsor, Conn.
Three life and health insurers have become financially “impaired” so far this year and more carriers are expected to follow, according to a report by A.M. Best.
The Certified Financial Planner Board of Standards Inc. today announced that slightly more than half (52.3%) of the 2,063 individuals who sat for the March 20-21, 2009, CFP certification examination passed the test.
Treasury Secretary Tim Geithner announced Wednesday that organizations working in 33 states would receive $1.5 billion in business tax credits fueled with federal stimulus money and aimed at creating and saving jobs in areas hit hard by the economic downturn.
