President Obama will likely sign comprehensive financial services regulatory reform legislation into law by yearend, House Financial Services Committee Chairman Barney Frank, D.-Mass., said today at the Financial Industry Regulatory Authority Inc.’s annual meeting in Boston.
The head of the Securities and Exchange Commission said today she favors a new proposal for federal regulators sharing oversight of companies that pose financial risks to the economy.
President Obama has asked for $1 billion to create a new agency that will support the automatic individual retirement account proposal included in his 2010 budget.
In a switch from the downturn of 2000, retail investors have actually increased their trading volume, a panel of analysts told participants at the annual meeting of the Financial Industry Regulatory Authority Inc. in Boston. Finra is based in that city and New York.
Congress will review legislation next week proposing regulation and oversight for investment advisers of municipalities, according to House Financial Services Committee Chairman Barney Frank, D.-Mass., in remarks today at a meeting of the Financial Industry Regulatory Authority Inc. in Boston.
America's wholesalers slashed inventories for a seventh straight month in March as businesses struggled to get stockpiles in line with plunging sales.
American International Group Inc. reported a first-quarter loss of $4.35 billion, or $1.98 a diluted share, but the insurer’s results improved year-over-year.
The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9 percent, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties.
The Financial Industry Regulation Authority Inc. has reached an agreement with four brokerage firms to repurchase $554 million in auction rate securities from clients, and also pay a combined $850,000 in fines to settle charges that they misled investors by marketing these debt instruments as risk-free.
European stocks extended their rally today and U.S. markets opened higher ahead of the formal release of the results for the U.S. government's stress tests of the country's biggest banks.
The government’s stress tests of banks have been shrugged off by the market, Bill Miller, chairman of Legg Mason Capital Management Inc., told the Investment Company Institute today.
Although regulatory reform will result in more-stringent enforcement in the wake of the financial crisis, the authorities in charge of that enforcement are not likely to change much, according to a panel of experts speaking today at the Financial Industry Regulatory Authority Inc. at its annual conference in Boston.
Federal Reserve Chairman Ben Bernanke today called for a holistic approach to strengthening oversight of the banking system to prevent future financial crises.
Nasdaq OMX Group Inc. said Thursday its first-quarter profit fell 22 percent compared with a year-ago quarter where it booked hefty gains on foreign currency contracts.
In a switch from the downturn of 2000, retail investors have actually increased their trading volume, a panel of analysts told participants at the annual meeting of the Financial Industry Regulatory Authority Inc. in Boston. Finra is based in that city and New York.
The European Central Bank cut its main interest rate by a quarter point to 1 percent Thursday and is poised to unveil more measures to help boost the 16-nation euro zone economy.
Longtime insurance and annuity expert Jerome “Jerry” S. Golden, president of the income management strategies division and a corporate vice president of MassMutual’s retirement income division, is retiring.
Consumers enticed by warmer weather and glimmers of hope for the economy bought a few more items in April, helping to lift sales results at established stores.
The New York-based ratings agency cut the carrier’s grade following Phoenix’s announcement of a first-quarter operating loss of $117.8 million and a $143.9 million — or 17% decline — in statutory surplus and asset valuation reserves,
Investment losses and subprime mortgage impairments drove Genworth Financial Inc. to a first-quarter loss, and the insurer says it plans to sell up to 49 percent of its Canadian mortgage business to raise cash.
