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Sparked by a trading error, volatility returns
The stampede to the exits on Thursday illustrated to financial advisers and market strategists just how skittish investors have become, and especially how frightened they are about the instability of the European economy.
Advisers scramble to calm clients after market suffers big drop
Thursday's stock market whipsaw sent many financial advisers into client management mode — fielding calls and sending out soothing e-mails as the Dow Jones Industrial Average briefly tested a record 1,000-point drop.
Case against Bear Stearns fund managers moves to final stages
The case of two former Bear Stearns hedge fund managers charged with lying to investors is moving into the final stages.
Morgan Keegan scores an arbitration win over bond fund blowups
After a string of high-profile securities arbitration losses, Morgan Keegan & Co. Inc. emerged as a winner in an $8.2 million investor complaint that alleged unsuitability and breach of fiduciary duty related to firm's bond funds.
Private-placement litigants suffer from "selective amnesia,’ lawyer says
With private-placement sales facing intense scrutiny, industry experts are reminding regulators that sophisticated investors who should have been…
Former Madoff associate leaves billions to charity
A man who made billions of dollars off Bernard Madoff's Ponzi scheme signed a will leaving the bulk of his fortune to charity, but the gift's ultimate size may depend on legal wrangling over how much of the money rightfully belongs to cheated victims.
Meltdown jolts consumers from financial fairyland
Financial planners around the country say there is a sense that people are returning to basic principles: Maximize savings; limit use of credit cards; keep a substantial emergency fund; understand risk; diversify; and don't short-cut your way to wealth.
Clock is ticking on Bank of America to find a new CEO
With Bank of America Corp. CEO Ken Lewis retiring in less than seven weeks, analysts don't see any candidate emerging as a front-runner for his successor.
Unlicensed securities broker pleads gulty to charges in $50M Ponzi scheme
A Lubbock businessman pleaded guilty Thursday to two charges related to his bilking $50 million from investors in a Ponzi scheme.
Ponzi schemer who pilfered $5M gets 7 years in prison
A Virginia man will spend more than seven years in prison for running a Ponzi scheme that bilked more than $5 million from more than 30 investors.
State Street settles lawsuit, bulks up legal reserve
State Street Corp. will pay $89.75 million to settle a class-action lawsuit with a group of employee benefit plans invested in certain active fixed-income strategies managed by its SSgA unit, confirmed Arlene Roberts, State Street spokeswoman.
Bernanke: Fed will keep eye on sliding dollar
Federal Reserve Chairman Ben Bernanke on Monday said the central bank will keep a close eye on the sliding U.S. dollar even as he pledged anew to keep interest rates at record-lows to nurture the economic recovery.
World markets rally, but gold hits record high
World markets rose sharply Monday amid further hopeful signs about the economic recovery. Commodity stocks led the charge,…
Trio who promised 500% returns grilled in federal court
Three South Carolina men accused of bilking investors out of millions made anyone with ties to law enforcement or attorneys leave their seminars, and threatened investors with $1 million in fines if they told anyone about the massive returns they were making, a former bookkeeper testified Tuesday.
SEC funding shift in Senate’s draft financial fix
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.
E-Trade’s daily volume E-vaporates in October
E-Trade Financial Corp. said Wednesday that daily trading volume fell 22 percent in October compared with the same…
Focus Financial secures new capital, readies for fresh acquisitions
Focus Financial Partners LLC, which calls itself the largest partnership of wealth management firms in the world, is securing a new capital infusion to help it service outstanding bank debt and continue its business of acquiring stakes in large registered-investment-advisory firms.
Ex-Bear Stearns hedge fund managers never lied to clients, defense argues
Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday.
Investors’ psyches will be ‘wild card’ determining market rally or retreat
The illogical nature of investor psychology could fuel the next stage of the stock market rally, potentially pushing prices beyond fair-value range, according to Patrick Galley, manager of the RiverNorth Core Opportunity Fund (RNCOX).
J.D. Power: Schwab No. 1 among do-it-yourself investors
Following Schwab in the ranking were Vanguard, Scottrade, TD Ameritrade and Fidelity Investments.
