An investor has filed a class action against Prudential Financial Inc. and a slate of its executives, alleging that the insurer violated federal securities laws in a June 2008 public offering of junior subordinated notes.
A consensus is forming that financial regulatory reform should include provisions to require anyone providing advice to adhere to a fiduciary standard of care.
Fed up with the recent volatility in publicly traded stocks and mutual funds, some sophisticated investors are looking to alternative investments for portfolio diversity and enhanced returns.
It isn't surprising that, as reported in InvestmentNews last week, many financial planners and advisers are feeling stressed and depressed.
On the surface, the Obama administration's movement to require every employer to offer workers some form of automatic retirement account is a well-intended attempt to shore up the financial futures of millions — and underneath, it's one that could also pump billions of dollars into the capital markets at a crucial time.
Congress should enact legislation mandating that all investment advisers and money managers come under fiduciary standards, John Bogle, founder and former chief executive of The Vanguard Group Inc. of Malvern, Pa., said today.
A Seattle man has filed suit against his financial adviser for failing to conduct appropriate due diligence and for investing his money with Tremont Group Holdings Inc. of Rye, N.Y., that placed funds with convicted swindler Bernard Madoff.
Angelsoft.net updated its search engine and GlobalBroker.com has launched a web-based market for owners or buyers to sell or to lease commercial real estate.
A systemic regulator for the country’s economy and financial system is likely to be put in place by the Obama administration.
Thousands of anxious clients with accounts in companies controlled by Texas financier R. Allen Stanford, who is accused by the Securities and Exchange Commission of running an $8 billion fraud scheme, received long-awaited good news from a federal judge in Dallas yesterday.
Advisers are agitated by the SEC’s decision to expand its examinations of advisory firms to include contact with clients.
Suspending mark-to-market accounting would improve the credit system, Robert Reynolds, chief executive of Putnam Investments, said today.
Bernard Madoff pleaded guilty Thursday to an epic fraud that robbed investors worldwide of billions of dollars, avoiding eye contact with swindled investors before he was led out of court with his hands cuffed behind his back.
The official in charge of the Treasury's $700 billion bailout program for the financial sector warns Congress that the government should not force banks to make loans that bankers may deem risky.
A recent court ruling has paved the way for the bulk of the Leona M. and Harry B. Helmsley Charitable Trust to be spent on charitable efforts, not on dogs.
Legislation that would allow the victims of the Bernard L. Madoff Securities LLC fraud to receive refunds for the taxes they paid on phantom profits was introduced today by Rep. Gary Ackerman, D-N.Y.
The National Association of Insurance Commissioners has released a list of carriers that have applied for a special accounting treatment aimed at helping them raise capital and surplus.
At least one executive of a bank that is receiving federal bailout money stands to earn tens of millions of dollars if his company rebounds, according to a report released yesterday by The Corporate Library.
Advisers need to bolster their sales efforts to snag new clients since most advisory firms’ sales are down 10% to 40%, one industry expert told advisers at the Financial Planning Association’s Business Solutions conference at the Chicago Westin.
Your wealthy client, age 72, has a sizable individual retirement account and is wondering whether to make charitable contributions from the IRA in 2009.
