Practice

Recent revelations such as those involving Goldman Sachs demonstrate that when it comes to investing, many commercial banks, pension funds, endowments and other institutions are not sophisticated.

The Securities and Exchange Commission and the Commodity Futures Trading Commission have created a joint panel to study last Thursday's mysterious "flash crash," as well as other emerging regulatory issues.

New York Attorney General Andrew M. Cuomo filed a lawsuit Tuesday against the hedge fund division of Ivy Asset Management, a unit of Bank of New York Mellon Corp., and two of its executives alleging they “deliberately” mislead clients about investments tied to Bernard L. Madoff.

Supreme Court nominee Elena Kagan filed a briefing with the high court last year asking it not to accept an appellate decision affirming the Gartenberg standard in the Jones vs. Harris Associates case.

A FINRA panel granted Stifel more than $900,000 in attorney’s fees and denied all of Wachovia’s claims in a bitterly disputed raiding case.

The agency aims to rewrite the regulation over the summer.

The Federal Deposit Insurance Corp. will take another stab at imposing checks on securitization. The agency is expected to issue another proposal that would restrict its safe harbor for securitized assets, five months after its first attempt, during which the Securities and Exchange Commission weighed in with a plan of its own.

Evidently, less is not more when it comes to investment advice in 401(k) plans.

In retirement, employees will need 15.7 times their final pay when factoring in inflation and postretirement medical costs, according to a study by Hewitt Associates.

New rules and technology, trends among Baby Boomers and the Great Recession have led to a burst in Roth individual retirement account conversions.