Portfolio

The Insured Retirement Institute on Thursday sent a “broad, comprehensive” response to the request for information on lifetime income that the U.S. Departments of Treasury and Labor recently issued.

Investor confidence among millionaires rose to its highest level in more than two years as optimism about the economy increased.

Retirement and uninsured medical expenses are the most pressing financial concerns for Americans, according to a survey conducted for the American Institute of CPAs by Harris Interactive.

WASHINGTON—Although some of the “most profound” proposals in regulatory reform made during the wake of the economic collapse are now not likely to happen, Richard Ketchum, chairman and CEO of the Financial Industry Regulatory Authority said Thursday that the financial services industry still has a responsibility to act aggressively at detecting fraud before it’s cleaning up the mess at the end.

States will likely face rising costs due to federal health care reform over the long term, Moody’s Investors Service said in a report released this week.

A federal judge in Manhattan has ruled that a group of 11 California localities, including Los Angeles, may go forward with their civil cases against Goldman, Sachs & Co., Citigroup, and several other high-profile firms because they may have participated in an alleged conspiracy to rig bids for municipal investment contracts and derivatives.

Nearly half of alternative investors surveyed by Brighton House Associates said they were interested in hedge funds following global macro trends because of its broad economic approach and highly liquid structure.

Sen. Kohl applauds DOL, SEC providing more information to employers and investors alike.

French bank wants to become a tier-one prime broker

The Department of Labor announced that beginning in August, it will require asset management firms to provide further information on the risks and benefits of investing in target-date funds, including details on their glidepaths, to employers and employees.