The Securities and Exchange Commission on Wednesday settled a charge that 14 trading firms cheated customers out of millions of dollars.
Confidence in the White House rose this year but dropped for Wall Street and corporations, according to an annual poll conducted by Harris Interactive Inc.
Advisers soon may be able to pursue a new designation that would formally qualify them as experts in managing investment portfolios during their clients' retirement years.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
Federal banking regulators knew as far back as 2002 about problems at First National Bank Holding Co.’s banks in Arizona, California and Nevada but failed to act until shortly before their demise last year, auditors said today.
The financial services industry spent more than $5 billion on political contributions and lobbying from 1998 through 2008, according to a study released today.
Though advisers’ outlook of the economy over the next six months may be bleak, there is indeed a silver lining, according to a survey from The Charles Schwab Corp. of San Francisco.
A proposal in President Obama’s budget to lower the tax deduction amounts for wealthy donors has charities concerned that it may reduce giving.
UBS AG official on Wednesday will face questions from a Senate panel for the first time since the bank acknowledged helping tens of thousands of American clients hide assets from the U.S. government.
The U.S. lost an estimated 778,000 jobs in February, marking the biggest one-month loss of the recession so far.
With large pharmaceutical companies sitting on extra cash and billions, a flurry of mergers in the biotechnology sector is likely this year, analysts say.
Thinkorswim Group Inc., an online brokerage and investor education service provider which is being acquired by TD Ameritrade, said Wednesday its fourth-quarter profit fell 46 percent due to a decline in interest and education revenue and special charges.
Even the rich are gloomy about the economy, according to Chicago-based Spectrem Group’s Millionaire Investor Index, which fell 13 points in February.
The Department of the Treasury and the Federal Reserve today launched a program designed to increase lending to consumers and small businesses.
The mutual fund industry today called for combining the Securities and Exchange Commission and the Commodity Futures Trading Commission into a one entity.
Raymond James Financial announced that Paul Reilly, executive chairman of Korn/Ferry International, will join the company as president May 1, and after one year will succeed Thomas James as chief executive.
Banks need to get rid of toxic assets, Boston Federal Reserve Bank President Eric Rosengren told a group of bankers yesterday in Washington.
Federal authorities have frozen $138 million in North Dakota's state pension and workers compensation funds, records show.
