Portfolio

A targeted examination letter probes firms for detailed information on their social media use as the regulator grows more serious about enforcement.

The mutual-fund industry, in what may be the last round of lobbying against tighter rules for money-market funds, rejected a scaled-back proposal to force only the riskiest funds to give up their stable $1 share price.

It’s no secret that the Investment Company Institute is opposed to proposals by the Securities and Exchange Commission to float the net asset value of money market funds and ICI President and CEO Paul Stevens today reiterated the group’s stance on the SEC’s proposal.

Investors pulled $13.34 billion from mutual funds for the week ended Wednesday, June 12, according to data from the Investment Company Institute.

Paul Jablansky, the head of structured products at fixed-income manager Western Asset Management Co., has left the unit of Legg Mason.

Global asset managers are looking to get their investment data management house in order, according to a study released by DST Global Solutions.

LPL Financial, the nation’s largest independent broker-dealer, has reached $50 billion in total RIA assets under custody, doubling its year-ago total.

The Securities and Exchange Commission would like to hear from advisors. That was the resounding message of a speech delivered Tuesday by Norm Champ, the director of the SEC's Division of Investment Management, the unit of the commission that oversees federally registered investment advisors.

When the Department of Labor produces its controversial proposal to extend fiduciary responsibilities to certain advisors to retirement plans later this year, the plan will come with a robust economic analysis making the case for new regulations, along with targeted exemptions to the rules, the senior official who is leading the effort said on Tuesday.

In May, stock and bond mutual funds, including exchange-traded funds attracted $56 billion of net inflows bringing total net intake for the first five months to about $350 billion, according to data from Strategic Insight.