National Planning Corp., <a href=http://www.investmentnews.com/apps/pbcs.dll/section?category=datajoe&djoPage=basicchart&djoProjId=10815> one of the ten largest independent broker-dealers </a>, has reached a $3.9 million settlement with Massachusetts to reimburse a set of elderly investors in the state who lost money from investments that an NPC adviser allegedly described as safe.
Measures that would significantly boost funding for the Securities and Exchange Commission as well as give shareholders a say on executive pay are included in draft financial overhaul legislation in the Senate, a person familiar with the matter said Monday.
A key state insurance figure has called upon the life settlements industry to keep Main Street policyholders in mind — or else.
New York Life Insurance Co. has revamped its sales team to make it easier for its wholesalers to sell an array of products to advisers — including annuities, mutual funds and guaranteed income products.
Google searches for “Roth 2010 conversion” have increased dramatically in recent months, indicating that investors are desperate for information on the upcoming rule change.
John Hancock Funds LLC is looking to double the size of its sales team targeting registered investment advisers to 12, according to Keith Hartstein, the company's president and CEO.
Investors cooled their buying of stocks and commodities, pausing from a surge that's carried major stock indexes to their highest levels in more than a year.
The latest data showing unemployment now at its highest level in 26 years translates into a challenge for stock pickers over the next several years, according to Ann Miletti, who manages more than $2 billion for the Wells Fargo Funds Management Group.
Wealthy investors know that tax increases are in their future.
Broadridge Financial Solutions Inc., the brokerage services firm spun off by Automatic Data Processing Inc., is selling its securities clearing business to Penson Worldwide Inc. and its Penson Financial Services Inc. subsidiary.
After months of pursuit, Donald Marron finally has landed a broker-dealer network, and the former chairman and chief executive of PaineWebber Group Inc. can't think more highly of its potential.
Upset by what they see as government bailouts of banks that still aren't lending money, several small broker-dealers are floating the idea of getting government money to smaller firms.
The lousy economy hasn't been bad for everyone.
After a series of ratings downgrades this year halted sales of its life insurance and annuity products by major outside distributors, The Phoenix Cos. Inc. has created a distribution company of its own, Saybrus Partners Inc., and has struck a consulting agreement with Edward D. Jones & Co. LP.
State Street Corp. said Tuesday that it will buy the securities services business of Italian banking group Intesa Sanpaolo for about $1.87 billion in cash.
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
Alternative asset manager Fortress Investment Group LLC said Friday its third-quarter loss deepened as it cut expenses and recorded a big gain on affiliate investments.
