It would seem to be an obvious conflict of interest for a Wall Street firm to create an investment product, sell it to its clients and then bet that the product would fail.
Federal regulators are proposing new requirements for brokerage firms aimed at reining in risk from their trading customers who are able to get split-second access to markets to buy or sell stocks.
Companies with international operations are set to take advantage of a global economic recovery in 2010 continuing the rally that began in 2009.
New life insurance premium levels at banks leapt by nearly 60% during the third quarter, beating the overall industry's growth for the second consecutive quarter, according to data from Kehrer-LIMRA.
A California couple has filed suit against The Variable Annuity Life Insurance Co., an AIG Inc. subsidiary, claiming the company's sales agents misled investors about the tax advantages of using variable annuities in qualified retirement plans.
Finra has barred a registered representative after finding that the Virginia rep had misrepresented the return a client would receive on a deferred annuity.
Though adults know it would be disastrous to lose their income due to a disability, it seems only a minority of them actually insure against that risk.
OppenheimerFunds Inc. said Thursday it will pay $20 million to settle a lawsuit the state of Oregon filed over the company's management of its 529 college savings program.
Having taken over as chief executive of American International Group Inc.'s Domestic Life and Retirement Services, Jay S. Wintrob has assured employees in a letter that SunAmerica and VALIC products will be back on distributors' shelves.
Cincinnati Financial Corp. said Monday that Robert C. Schiff, a company founder who retired from the property and casualty insurer's board in 2004, has died. He was 86.
Despite an improving economy, losses and investment risks continue to loom ahead for life insurers' investment portfolios, according to a report from ratings firm A.M. Best Co. Inc.
Abu Dhabi's main sovereign wealth fund, which is alleging fraud over its $7.5 billion investment in Citigroup Inc., vowed to fight for its "legal rights."
Even as they fight a rule that would treat indexed annuities as securities, many insurers are pre-paring their agents to become registered representatives, should the rule become law.
Citigroup Inc. on Monday named Willem Buiter, a London-based economics professor and author, as its new chief economist.
