The Financial Industry Regulatory Authority Inc.'s proposal to widen its purview to include non-securities products has left some in the fixed-annuities industry gnashing their teeth.
Pershing LLC, the largest provider of back-office services and financing to small and independent broker-dealers, this month began charging shareholder servicing fees to brokers and financial advisers who buy certain mutual funds from its Fund Center platform.
Make way for the 1,600-pound gorilla in the money management industry.
The Securities and Exchange Commission and the Alabama Securities Commission announced today that they have charged Aura Financial Services Inc., a Birmingham-based broker-dealer, with churning customer accounts, supervisory failures and other violations.
Online charitable giving provides only a small slice of revenue for charities, but that is changing, according to a survey of 400 non-profit organizations conducted by Convio Inc.
The Principal Financial Group has declined to participate in the U.S. Treasury’s Capital Purchase Program.
The insurer yesterday received preliminary clearance to accept approximately $3.4 billion in federal aid.
It was the largest increase since sales surged by 1.7 percent in January following six straight declines.
The Labor Department says initial claims for unemployment insurance dropped last week by 24,000 to a seasonally adjusted 601,000. That's below analysts' estimates of 615,000.
More than 321,000 households received at least one foreclosure-related notice last month — 18 percent more than a year earlier — but the smallest annual gain since June 2006.
City National Corp., a Beverly Hills, Calif.-based bank holding company that owns Convergent Capital Management LLC, has agreed to buy a majority interest in Lee Munder Capital Group, a firm with more than $3 billion of assets under management.
Charitable giving last year experienced its first decline since 1987, the Giving USA Foundation reported today.
Non-binding say-on-pay shareholder votes would be required of all public companies under legislation proposed by the Obama administration today.
Bank of America Corp of Charlotte, N.C. has joined the ever-growing list of firms that are being required to repay investors who bought auction rate securities.
Some good news for the charitable-giving world: Most donors — 55% — planned to donate the same amount to charities in 2009 as they did last year, according to a recent survey conducted by the Fidelity Charitable Gift Fund, a charitable donor-advised-fund program established by Fidelity Investments of Boston.
The U.S. trade deficit edged up in April as crude oil prices hit the highest level since December, but the imbalance so far in 2009 is well below last year's total as the recession dampens demand for imports.
Clearbrook Financial LLC has lured a 22-year Merrill Lynch & Co. veteran to serve as its new chief executive.
Two California men and the companies they ran were charged today with conducting an $80 million Ponzi scheme that targeted Korean-American investors with false promises of annual returns of up to 36% from foreign currency trading,
Retirees would be able to take a portion of their retirement savings in the form of an annuity if a bill introduced today by Rep. Earl Pomeroy, D-N.D., were passed into law.
U.S. retirement assets were down 22% at the end of 2008, compared with yearend 2007, according to a report released yesterday by the Washington-based Investment Company Institute.
