The House of Representatives approved legislation yesterday that would relieve about 25 million middle-class taxpayers from paying the alternative minimum tax this year.
The Investment Company Institute and the Securities Industry and Financial Markets Association are launching a new research project to improve understanding of investors' use of individual retirement accounts.
Charles Schwab & Co. is taking advantage of the financial crisis by attempting to lure brokers from Merrill Lynch and Morgan Stanley and other wirehouse brokerage firms to go independent and use Schwab as their custodian.
Lauded for its ability to make use of advanced technology to make its website user-friendly, Fidelity Investments Institutional Services Co. of Boston was ranked as the financial intermediary with the best website by kasina LLC.
Massachusetts Secretary of the Commonwealth William F. Galvin today called on Congress to temporarily suspend the 10% penalty tax on early withdrawals from 401(k)s.
“The last six months ... have made abundantly clear that voluntary regulation doesn’t work,” Mr. Cox said in prepared testimony at a hearing of the Senate Banking Committee.
Lawmakers must take steps stabilize a financial situation that could pose “very serious consequences” for the U.S. “financial markets and for our economy," said Fed chief Ben Bernanke.
The historic bailout may be as low as $100 billion to $200 billion, rather than the $700 billion being requested by the administration, House Financial Services Committee Chairman Barney Frank, D-Mass. said yesterday.
A group of the world's largest hedge funds are planning to sue the Financial Services Authority for millions of pounds of losses allegedly resulting from the regulator's ban on short selling, according to a report in the Sunday Telegraph.
At a time when major investment banks are failing, the independent-advisory business is flourishing, according to a recent research report.
The crisis that has swept the financial markets in the past few months, beginning with the collapse of The Bear Stearns Cos. Inc. of New York and continuing with the bailout of Fannie Mae and Freddie Mac, and now the government takeover of American International Group Inc. of New York, makes obvious the need to revamp totally the nation's financial-markets regulation.
U.S. markets are poised to open sharply higher this morning after top government officials from the administration and Congress announced a several actions last night intended fight the mounting financial crisis, according to published reports.
Legislation that would set up the Office of Insurance Information within the Department of the Treasury has stalled in the House.
Following this weekend’s turmoil on Wall Street, financial-sector job cuts may hit new heights, according to a report from Challenger Gray & Christmas Inc. of Chicago.
“There will be massive defections of clients and advisers,” said Liz Nesvold, managing partner of Silver Lane Advisors LLC of New York. “The wirehouse model, which was damaged, is now broken.”
While financial advisers provide far from the most popular content on YouTube, they are there.
Debit card loan programs recently have been the focus of criticism in Washington.
The immediate reaction to last week's federal takeover of Fannie Mae and Freddie Mac was overwhelmingly positive.
LPL Financial has agreed to pay a $275,000 penalty for violating customers' privacy, the Securities and Exchange Commission said Thursday.
