The mutual fund trade group asks the state to repeal a new sales tax on investment advice services.
The move would “hinder America’s ability to compete in the global economy,” said Treasury chief Henry Paulson.
Sales of new one-family homes rose 4.8% to a seasonally adjusted annual rate of 770,000 from a revised 735,000 in August.
MBIA, the world’s largest bond insurer, reported third-quarter earnings with a net loss of $36.6 million, or 29 cents per share.
In addition to advising services, the new tax would also apply to astrology reading, escort services and ski-lift tickets.
Americans have become even gloomier about the economy, but the reality may not be all that bad, says an economist.
Despite strong growth, numbers are down slightly from Q2 as officials make effort to curb inflation.
The board of New York Life Insurance has elected Frank Boccio to the position of executive vice president and CAO.
The worse-than-expected third-quarter losses raise questions as to the fate of chief executive Stanley O’Neal.
Charles Rangel, chairman of the House Ways and Means Committee, has drafted a bill that would slash corporate income tax rates, The Wall Street Journal said.
The Risk Group will be responsible for identifying, tracking and addressing key external market and industry trading developments.
Ladenburg Thalmann has acquired Investacorp, a B-D with close to 500 affiliated reps.
BS AG remained the world’s largest money manager in terms of assets under management, with $2.45 trillion, to lead the Pensions & Investments/Watson Wyatt Worldwide ranking of the world’s 500 largest money managers in 2006.
The American Council of Life Insurers today elected Dennis R. Glass, president and CEO of Lincoln Financial Group, as its 2008 chairman.
With no permanent repeal of the estate tax in sight, advisers are appeasing worried clients by putting new twists on old estate-planning tools.
The Phoenix Cos. Inc. has formed an alliance with Jefferson National Life Insurance Co. in which Phoenix will use the Jefferson technology platform to offer no-load variable annuities to fee-based advisers at wirehouses and regional broker-dealers.
There just aren't enough planners to go around, according to leaders of the financial planning profession. Speaking this month in New York, Nicholas Nicolette, president of the Denver-based Financial Planning Association, said some firms will need to double or triple in size in the near future.
Investor optimism stayed at par in October, but investors were glum about their own portfolios.
Sun Life Retirement Services has named Jed Collins as its new president, succeeding Claud Accum.
Bringing to market actively managed exchange traded funds has proved to be an elusive goal, but at least six managers think that they have the secret formula to make these vehicles work.
