The exchange posted a 21% increase in the second quarter but came in markedly below expectations.
The state of New York will bring legal action against Citigroup, accusing the bank of fraudulently selling auction rate securities and destroying documents that had been subpoenaed by the state.
Deutsche Bank’s second-quarter net income fell 36% to $1 billion from $2.8 billion a year earlier.
“The [SEC] emergency order will further constrain normal market operations," said the Managed Funds Assoc. president.
The state charged Merrill Lynch with fraud related to auction rate securities and settled a similar claim with UBS.
The economy grew at an annual rate of 1.9% in the second quarter, a slower growth rate than had been expected.
The socially concious mutual fund was fined $500,000 for violating investment restrictions.
A host of financial services companies reported their earnings today, with only one firm boasting black ink on its ledger.
Clients would be urged to obtain a personalized hypothetical illustration, revealing all applicable charges and fees.
The Hartford Financial Services Group's second-quarter profits fell to $543 million or $1.73 per diluted share.
Second-quarter net income for asset manager rose 18.5% to $35.2 million from $29.7 million in the year-ago period.
If your client want to raid their retirement money for a "hardship distribution," you need to know the rules.
Insurance industry representatives and regulators could not agree on moving ahead with comprehensive reform legislation.
Focus Financial has acquired Wespac, an Oakland, Calif.-based RIA and benefits administrator.
As if dealing with clients stuck with auction rate securities isn't challenging enough, brokers are dismayed that firms are reporting some ARS-related customer complaints on the brokers' public disciplinary records.
A wealthy prospect wanted investment-grade bonds, and only investment-grade bonds, in his portfolio.
The amount of time workers take when considering retiring and executing the decision to leave a company is typically quite short, according to the results of a new survey released by the Employee Benefit Research Institute.
Allianz Life Insurance Company of North America of Minneapolis today named Giulio Terzariol chief financial officer.
Legg Mason today reported a loss of $31.3 million, or 22 cents a share, for the second quarter.
The insurance company will pay $786,655.87 as part of a settlement with the North Carolina insurance department.
