Fortress Investment Group LLC posted a third-quarter loss of $57 million, or 66 cents per share, as the alternative-asset management firm proved susceptible to financial market turmoil.
Despite vehement objections from state regulators, Conseco Inc. yesterday completed its transfer of a group of long term care policies to an independent trust.
The controversial proposal would move most EIAs from the status of insurance products, which are regulated only by states, to that of securities, which are federally regulated.
Losses in the financial services industry since early 2007 are inching closer to the $1 trillion mark, according to data compiled by Bloomberg LP.
Finra has fined Citigroup Global Markets, the brokerage and securities arm of Citigroup Inc., $300,000 for failing to reasonably supervise the commissions that its brokers charged their clients on stock and options trades.
Raoul Weil, chairman and CEO of the global wealth management division of UBS, has been indicted by a U.S. grand jury, charged with conspiring to help 20,000 wealthy Americans hide assets from the IRS.
The company posted a third-quarter net loss of 478 million euros ($602 million), or 22 cents a share, compared with a profit of 2.31 billion euros ($2.9 billion), or 1.08 a share, in the year-ago period.
Under orders from a federal judge, Bear Stearns has paid $27.3 million to the now-defunct National Heritage Life Insurance Co., which lost money invested with Bear on collateralized mortgage-backed obligations and collateralized debt obligations.
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Shares of State Street Corp. briefly soared 9% today after its CEO confirmed an upbeat fourth-quarter earnings report. They subsequently settled back near their opening levels as investors questioned the estimate.
Analysts applauded the newly restructured bailout plan for American International Group Inc., citing benefits for the insurer.
The Fed and the Treasury announced a new restructuring plan to help bolster AIG, including a $40 billion purchase of new preferred shares from the ailing insurer.
InvestmentNews announced today that it has partnered with RIA Database as the exclusive financial advisory trade publication to publish RIA Database’s Top Registered Investment Advisers (RIA) lists.
Fannie Mae posted a large third-quarter loss, while the profit at GLG Partners LP fell.
One of the bright spots in an otherwise difficult year for the Section 529 college savings plan industry has been the aggressive efforts of Alexi Giannoulias, Illinois' dynamic young state treasurer, to boost the visibility of college savings both in his home state and across the country.
Advisers, hungry for market information in this troubled environment, are turning to asset managers for help.
Carriers may be going through their own tumult, but that hasn't stopped clients from seeking life insurance coverage, according to agents and advisers.
It is all about valuation and company fundamentals for fund manager Michael Cuggino as he rummages through the battered markets looking for investment bargains.
Insurance agents are blasting a controversial Securities and Exchange Commission proposal to classify equity index annuities as securities.
Choppy markets highlight the importance of owning dividend-paying investments that can smooth out volatility.
