Sisters of Charity of the Blessed Virgin Mary, Dubuque, Iowa, has filed a civil suit alleging breach of fiduciary duty, breach of trust and unjust enrichment regarding losses from the order’s investment in an SSgA enhanced Dow Jones-AIG Commodities futures strategy.
Lincoln National Corp., which paid off a $500 million debt just yesterday, today said it is considering whether to sell assets in an effort to bolster its insurance businesses.
Shares of Lincoln National Corp. fell today as the insurer prepared to pay down $500 million in debt.
Following the recent death of its chief executive Gordon Loetz, GunnAllen Holdings Inc. of Tampa announced a series of management changes this morning.
Active portfolio managers experienced a surge of confidence last week as the Index of Manager Sentiment recorded a record seven-day spike, pushing the index to its highest level in nearly 10 months.
Job security in the financial sector is still a precarious proposition, but the worst may be over, said Marisa DiNatale, a senior economist at Moody’s Economy.com, a division of Moody’s Analytics Inc. of West Chester, Pa.
Stifel Nicolaus & Co. Inc. has hired two executives from KeyBanc to fill newly created positions in the Financial Institutions Group.
Two important lessons of the current bear market are that stocks don't always outperform bonds over significant time periods and that investors can't assume a 10% annual return over the long run.
Finra securities arbitration panels have handed investors two huge wins in recent months, but lawyers and industry observers are divided about whether such noticeable awards signal favorably for investors.
Units of State Street Corp. and Bank of America Corp.'s Broadcort clearing division are working to capture alternative assets from registered investment advisers who are being forced to remove them from The Charles Schwab Corp.'s custody platform.
After months of waiting for talks on the sale of the three broker-dealers that make up the AIG Advisor Group to be resolved, many of the more than 6,000 representatives and financial advisers in the network are growing anxious about their future.
The release of Internal Revenue Service Ruling 2009-9 and Revenue Procedure 2009-20 be-fore the April 15 filing deadline has granted timely guidance to victims of Bernard Madoff.
Insurers, concerned about conserving capital, have put the brakes on their fixed-index-annuity production, a move that advisers say could put a crimp in their business.
The stock market is finishing the day with a modest advance, logging its fourth straight week of gains.
In the latest iteration of a plan that’s been steadily gaining support from both Democrats and Republicans on the Hill, legislation was introduced yesterday that would create a federal insurance regulator.
The U.S. unemployment rate jumped to 8.5 percent in March, the highest since late 1983, as a wide range of employers eliminated a net total of 663,000 jobs.
John Simmers, one of the most widely respected executives in the independent-contractor brokerage business, is stepping down from the ING Advisors Network. Mr. Simmers, chairman and CEO of the network, told advisers about his decision to retire on a conference call yesterday afternoon.
The cost of three-month dollar loans between banks fell Friday, a day after the Group of 20 world leaders agreed to help struggling countries with extra funds and to regulate financial markets more closely.
Individual citizens should be allowed to invest in the Public-Private Investment Program, which is aimed at removing toxic assets from the balance sheets of financial institutions, according to the chairman of the House Subcommittee on Capital Markets.
