Banc One Securities Corporation of Chicago was fined $225,000 by FINRA for making the unsuitable sales.
By recruiting Perella Weinberg, the state regulator would focus on protecting the policyholders of “monoline” insurers.
T. Rowe Price earnings grew 28% in the fourth quarter on increased investment advisory fees and net inflows.
Home prices in the United States fell by a record 8.4% in November, for an 11th consecutive monthly decline.
After a sterling 2007, leading independent-contractor broker-dealers are facing a horde of significant problems this year, with the subprime-mortgage crisis, skyrocketing gas and oil prices and the threat of a recession the most daunting.
Sales of single-family homes fell 4.7% in December to a seasonally adjusted rate of 604,000.
Robert B. Pollock's return follows a six-month hiatus when Mr. Pollock went on administrative leave by order of the board of directors.
Inspired by market volatility, insurance carriers are making over their equity-index annuities in an attempt to beat a bad reputation and target baby boomer investors.
Gender is a strong factor in determining the likelihood of whether a worker 50 or older receives an annuity or a company-sponsored pension payment, according to a recently released study.
When entrepreneur David Barrett couldn't find an investment firm he trusted to manage several million dollars, he created his own.
Gregory Reyes is the first chief executive to be sentenced to prison and socked with a huge fine for improperly back-dating stock options.
Two of the biggest blowups in the retail-investing business are wending their way through legal channels, with plaintiff's attorneys looking far and wide to place blame in order to win money for clients.
Insurance agents and advisers are hawking annuities without grasping the adverse impact on clients' estate plans, industry observers said.
Ameriprise posted strong returns, while E*Trade took a larger-than-expected plunge into negative territory.
For all of 2007, the median sales price of an existing single-family home fell 1.8%.
First-time jobless claims fell by 1,000 to 301,000, the lowest level since early September.
Franklin Resources reported a 21% increase in profits while Janus Capital Group experienced a 29% drop in earnings.
The new benefit will go with UBS’s target retirement funds and other investment options.
Piper Jaffray's earnings fell 27% with net income falling to $15.1 million while Jefferies reported a loss of $24.2 million.
