A critique of state regulatory missteps from The Allstate Corp.’s Tom Wilson, did not sit well with Michael T. McRaith, director of the Illinois Division of Insurance.
State securities regulators are asking Congress for expanded powers to review offerings of private securities.
The government's Public-Private Investment Program — designed to remove bad assets from bank balance sheets and promote lending — will help turn around the economy in the short run, but perhaps not long-term, according to financial advisers.
Requiring annuities or other fixed-income products be included as an option in 401(k) plans is being considered by the House Education and Labor Committee, said Rep. Robert Andrews, D-N.J., chairman of the committee’s Health, Employment Labor and Pensions Subcommittee.
Morgan Keegan has been stung in another arbitration case involving its bond funds, this time losing a $950,000 claim to an ex-NFL Pro Bowl star with the Kansas City Chiefs.
Trust is a five-syllable word. That word is fiduciary. As investors discuss "gates" in hedge funds and losses in portfolios, the term "in a client's best interests" is open to debate.
Investors who are battling Morgan Keegan over the blowup of its bond funds are on a hot streak, with a former Major League Baseball all-star among the recent arbitration winners.
The chief executive of Goldman Sachs Group Inc. today called for new standards on how Wall Street executives are compensated and new regulation of large hedge funds and private-equity funds.
Finra securities arbitration panels have handed investors two huge wins in recent months, but lawyers and industry observers are divided about whether such noticeable awards signal favorably for investors.
In the latest iteration of a plan that’s been steadily gaining support from both Democrats and Republicans on the Hill, legislation was introduced yesterday that would create a federal insurance regulator.
The U.S. government’s $787 billion stimulus package offers ripe opportunities for fraud, according to criminal experts.
Legislation approved Wednesday by the House of Representatives that would limit bonuses at government-aided firms may lead more wirehouse brokers to become independent investment advisers, said an attorney who specializes in helping breakaway brokers start their own advisory firms.
In one of the single largest securities arbitration awards ever, Merrill Lynch & Co. Inc. has been ordered pay $39.8 million to a group affiliated with the Freemasons.
Two congressmen think that a new consumer watchdog agency is needed in the wake of the financial crisis.
The Obama administration today unveiled a sweeping overhaul of the financial system designed to impose greater regulation on major players like hedge funds.
The Federal Reserve's chairman and the secretary of the treasury are making a rare joint appearance at a congressional hearing, to take a scolding over AIG.
The Obama administration launched a new effort Monday to end a paralysis in lending, saying it will team with investors to sop up a half-trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies.
Arguing that they can do more than federal agencies with less, state securities regulators today asked Congress to consider giving federal grants to state securities divisions.
New Jersey Attorney General Anne Milgram said yesterday that her office is spearheading an investigation into the bonuses paid to workers’ at American International Group Inc.’s financial-products unit.
A bill has been introduced in the House that would impose stricter rules on how credit card companies set interest rates and charge fees to consumers.
