Regulators shut four banks from California to Florida on Friday, boosting to 20 the number of U.S. bank failures this year following the 140 closures last year in the worst financial climate in decades.
Over the past decade, increased competition and regulatory change have had a profound effect on the way financial products and services are sold.
The Certified Financial Planner Board of Standards Inc on Friday placed Oren Eugene Sullivan Jr. under interim suspension, keeping the ex-broker from using its credentials.
In a huge blow to SagePoint Financial Inc., one of three broker-dealers that make up the AIG Advisor Group Inc., its largest branch of reps and advisers is walking out the door following a bitter dispute over the latter's role and future at SagePoint.
Bowing to the political clout of the insurance and securities industries, the Financial Planning Coalition has given up its effort to get Congress to establish a definition of financial planning that would have brought thousands of insurance and securities brokers and money managers under the sway of an oversight board that the FPC seeks to create.
In the face of opposition from influential insurance and securities industry groups, the Financial Planning Coalition has moderated its ambition to get Congress to establish a broad regulatory scheme for financial planners.
The Securities and Exchange commissioner says "vague and confusing" language describing target date funds led to investor confusion when investments performed poorly during the market downturn.
The self regulatory organization ruled that Schwab's human resources group committed “gross negligence, and contributed to the damages suffered” by a former employee who claimed the brokerage had made defamatory comments on his termination notice.
And there's a 5% chance the tab could top $570K, according to a sobering study published this week by Boston College.
The Jones family is in need of financial advice in a major way.
A former financial adviser from Plymouth, Mass., has pleaded guilty in federal court to embezzling $4.3 million from his clients and using the money for personal expenses, including to make mortgage payments and pay his daughter's college tuition.
Securities and Exchange Commission investigators were trying to persuade supervisors to protect billionaire Mark Cuban's privacy when they internally e-mailed photos demonstrating his fame, the agency said.
Over the past year, at least six young couples have come to investment adviser Susan Spraker in desperate need of financial help.
The Jones family is in need of financial advice in a major way. InvestmentNews wants to know how you would advise this made-up 30-somethings couple, the first case study of a four-part series on lifestage investing.
Citigroup Inc. said it is repaying $20 billion in bailout money it received from the Treasury Department, in a bid to reduce government influence over the banking giant.
They are going to find out about it anyway, and they're better off hearing about it from you
A Federal judge refuses to vacate an award from June 2009 arbitration ruling.
Adviser Frank Congemi is running radio spots this week lambasting government officials and Wall Street firms for the financial crisis, which he calls the “largest economic crime in history.”
