Whether out of necessity or a sense of opportunity, financial advisers are gearing up to attract clients in the midst of one of the worst bear markets on record.
Credit Suisse Securities has been ordered by an arbitration panel to cash out an institutional client that held $400 million in collateralized debt obligations.
Executives at companies receiving federal assistance would face stiffer limits on bonuses and severance under the stimulus bill passed by the House today.
The House this afternoon approved by a vote of 246-183 a $787 billion stimulus bill in the hope that it will help the United States out of the economic crisis.
RolloverSystems has made WealthConnect, an education and financial planning tool, available to clients.
The wife of accused swindler Bernard Madoff withdrew $15.5 million from a brokerage account in the weeks before he was arrested.
The AIG Advisor Group has reached the end of a dispute with the SEC over a manager who oversaw brokers selling Class B shares of mutual funds instead of selling A shares, which would have entitled buyers to certain discounts.
To protect consumers against fraud associated with the current economic crisis, the FBI has increased its investigation into corporate financial crimes.
A stringent plan to regulate hedge funds that is backed by Obama administration aide Paul Volcker won the support today of an influential Democratic senator.
Amegy Bank NA of Houston, and its broker-dealer affiliate, Amegy Investments Inc., have filed an arbitration claim against Merrill Lynch & Co. Inc. of New York.
Robert W. Baird has snagged Paula Johnson, an industry veteran most recently with rival Wachovia Securities LLC of St. Louis, to lead a fledgling branch office.
Massachusetts Secretary of the Commonwealth William F. Galvin filed a complaint today to revoke the securities registration of Cohmad Securities Corp.
Legislation aimed at improving disclosure of 401(k) fee information was introduced in the Senate yesterday.
It will take investors two to five years to recover from the losses that they have endured in the past year in their 401(k) plans, one industry expert said.
After posting another massive loss today, the Swiss bank UBS AG said it will reorganize its wealth management businesses.
Retirement accounts have taken a huge hit since the markets tanked, but they were already in trouble because most consumers weren’t saving enough even when times were good, according to one industry leader.
Bernard Madoff began to face the music today.
SEC director of enforcement Linda Thomsen is resigning to return to the private sector, the agency announced today.
