Portfolio

The number of Securities and Exchange Commission settlements fell for the second consecutive fiscal year, according to data released Monday. But, settlements could increase in 2010 and 2011.

MFS Investment Management has promoted Michael W. Roberge to president, effective Jan. 1. He will continue to serve as chief investment officer of U.S. investments, reporting to Robert Manning. Manning, who was previously president, will himself continue to serve as chief executive officer and chief investment officer.

While the market may have recovered significantly in the second half of the year, many investors’ portfolios are back to 1999 levels, resulting in a “lost decade” of investing, AARP Financial said.

U.S. Senators Jeff Bingaman (D-NM), Johnny Isakson (R-GA) and Herb Kohl (D-WI) have introduced a bill aimed at helping Americans save enough so that they will not be in danger of outliving their retirement savings.

Morningstar has started publishing credit ratings for about 100 of the largest U.S. companies. Over the next year, it plans to produce credit ratings for up to 1,000 companies currently covered by its equity analyst team. The ratings are available for free for institutional equity research clients at its website.

Fidelity Names Perold Asset Management Chief

Circuit Court Permits 401(k) Lawsuit Against Wal-Mart to Be Heard

Armed with a slew of wealth management veterans who chose to jump ship from U.S. Trust after it was acquired by Bank of America, Evercore Wealth Management has nearly doubled its assets under management to $1.4 billion in the past six months, but if that wasn't already impressive, the New York company's top executive expects to nearly quadruple that and reach $5 billion in the next five years.

While it may be too late for the Securities and Exchange Commission to pass any new regulations before the end of the year, financial experts anticipate major financial legislation and regulation to occur sometime in early 2010.

In the "new normal" that follows this recession, exchange-traded funds will be ideally positioned for a new world of lower expenses, lower returns and exposure to a wide variety of asset classes, experts say.