Practice

Mutual of Omaha is now offering retirement advice in its 401(k) Toolbox, a service called Manage It For Me.

WASHINGTON – Despite signs of renewed strength in the credit markets, the Federal Reserve Board on Tuesday unveiled a new program to provide more liquidity to money market mutual funds.

Ameriprise Financial, which has sued Reserve Funds on charges that the fund company tipped off large institutional investors its Primary Fund had broken the buck, has asked a judge to release taped phone calls to customers on the day before the fund’s NAV fell below $1, Reuters reports.

Eighty-percent of board members at financial services firms believe they need better tools to evaluate investments, PricewaterhouseCoopers’ financial services practice found in a recent survey of financial services audit committee members. They believe that by being better equipped, they could reduce the chance of future industry instability.

Talking about the volatility of the stock market may not be as popular as trading jibes over sports scores, but more investors, certainly, are taking an interest in the incredible gyrations of the market.

Following recent talk of 401(k) debit cards and tighter credit, it was bound to happen that homebuyers would turn to their 401(k) to help finance a home purchase, despite warnings against doing so from most financial advisers.

Despite the tremendous turbulence in the stock market, few investors are planning to sell their stocks and mutual funds or to curtail or entirely cease contributions to their 401(k), according to a poll from Ipsos/McClatchy. That said, more are paying closer attention to federally insured bank deposits, now that the guarantee has been expanded from $100,000 to $250,000.

The Financial Industry Regulatory Authority has fined Banorte Securities International $1.1 million for improper sales of B shares of offshore mutual funds, as well as inadequate supervisory systems to monitor the sales.

WASHINGTON - Though the Federal Reserve Board's reputation is built on its management of monetary policy, Chairman Ben Bernanke said Wednesday that the role of banking supervision at the central bank needs to be revisited.

HUNTINGTON BEACH, Calif. - As omnibus accounts continue to grow in size and scope, it remains crucial for investment managers to keep oversight high and costs low.