BOSTON — Just because the Enron Corp. and market-timing scandals have led to greater disclosure requirements doesn’t mean that some mutual fund companies aren’t still burying some doozies in their regulatory filings, according to Russel Kinnel, director of mutual fund research for Morningstar Inc.
Regulators are backing off their aggressive pursuit of B share cases. In the clearest indication yet that enforcers have changed their tune, the SEC late last month dropped a prominent B share case against former Prudential Securities Inc. broker Robert Ostrowski.
WASHINGTON — Be careful what you wish for with regard to cost basis reporting, as it might cause a headache of colossal proportions.
In an effort to prevent top brokers from bolting, wirehouses quietly are backing down from their tough stance against allowing advisers to act as fiduciaries to employee retirement plans.
A congressman who raised eyebrows last month when he seemed to imply that annuities are the answer to the need for lifetime retirement income claims he was misunderstood.
A California court ruling late last month may make it easier for states to sue financial firms, according to legal experts.
Merrill Lynch & Co. Inc. continues to lead the wirehouse race for net new client assets.
As the Department of Labor puts pressure on advisers to make 401(k) fees more transparent, some financial advisers are refunding fees to participants that they are being paid from mutual fund companies.
The securities arbitration system should be reformed or else investors should be given the option of taking their disputes to court, according to a group that represents state securities regulators.
WASHINGTON — Proponents of allowing insurers to be federally regulated are taking heart in the inclusion of that proposal in a report recently issued by New York Mayor Michael Bloomberg and Sen. Charles Schumer, D-N.Y.
NEW YORK — The online options trading arena is rapidly expanding, as the cost to trade such investments has fallen significantly.
OTTAWA — After much consultation, the Canadian Securities Administrators’ Regulation Reform Project is about to surface, though exactly when isn’t clear.
IRVINE, Calif. — Wachovia Securities LLC of Richmond, Va., is expected to roll out in coming weeks a significant new incentive program.
Corporate America received a dose of common sense when The Home Depot Inc. said that its new chief executive, Frank Blake, would be paid a fraction of what his predecessor was taking home.
BOSTON — Franklin Resources Inc., the nation’s fourth-largest mutual fund company, boosted its head count by 229 workers last quarter, with more than 90% of that growth coming from India, where it opened a new facility last month.
The former head of a Hailey, Idaho-based hedge fund was indicted on criminal charges that he carried out a fraudulent scheme that bilked investors out of $88 million, the U.S. Attorney's office said yesterday.
The Department of Labor's Employee Benefits Security Administration released its first Field Assistance Bulletin of the year, which provides guidance to field investigators regarding an exemption for investment advice in the Pension Protection Act.
KPMG LLP endured another blow in its tax shelter case this week, when a federal judge in Texas ruled that tax shelters based on fake bank loans are not legitimate tax write-offs, according to the New York Times.
Three executives of National Planning Corp., Sean Haley, Bryan Jacobsen and Austin Moon, have received promotions.
According to Flyer Financial Technologies, rising portfolio complexity is exposing the limits of legacy infrastructure and widening the gap between automation and reality
