Practice

A retirement guide for women that the Heinz Family Philanthropies and the Women's Institute for a Secure Retirement issued last week brought to light some startling facts.

Lake Shore Asset Management, a Chicago-based hedge fund, had $288 million of its assets frozen by a federal court last week, after regulators stated it overstated its holdings, according to Bloomberg News.

A retirement guide for women that the Heinz Family Philanthropies and the Women's Institute for a Secure Retirement issued last week brought to light some startling facts.

John Hancock has settled with the Securities and Exchange Commission on charges that it failed to disclose $14.8 million in revenue-sharing agreements with 55 brokerages between 2001 and 2004. In exchange for the payments, the brokerages promoted Hancock mutual funds and variable annuities and gave the investment management firm's marketing and sales staff access to their representatives at conferences and meetings.

Increased international competition, proxy votes and Sarbanes-Oxley were a few of the issues discussed during the House Financial Services Committee's review last week of the Securities and Exchange Commission's effectiveness in investor protection and market oversight.

An intended class-action lawsuit filed in Illinois in mid-May has the potential to challenge how all state Treasury offices apply tax deductions for contributions to in-state, versus out-of-state, 529 college savings plans.

Score one for the mutual fund industry.

After a day's worth of discussion among industry executives, regulators, academics and investor advocates about the utility and future of 12b-1 fees, one theme emerged: something should be done.

NEW YORK-Including exchange-traded funds in defined contribution platforms isn't just a good idea for plan sponsors, it's darn close to a fiduciary duty, said panelists at a recent ETF summit held here.

Score one for the mutual fund industry.