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New York Governor Eliot Spitzer, the former New York State attorney general who was instrumental in waging war against Wall Street corruption and the mutual fund industrys after-hours trading and market-timing activities, publicly apologized Monday afternoon to his family and the public for unspecified behavior, but stopped short of resigning his position as governor.
March 10 -
Global alternative asset manager Blackstone Group reported a 90% drop in profit during the fourth quarter of 2007 compared to the same period in 2006 and warned that conditions will remain difficult for the rest of the year or longer.
March 10 -
Innovation is the name of the game for Keith Geary, CEO, president and chairman of Capital West Securities, a small, 13-year-old Oklahoma City-based broker/dealer. The firm recently registered its new investment advisory arm OOK Advisors and last week filed to offer the Capital West Oklahoma Index Fund, the first ETF to invest exclusively in publicly-traded companies headquartered in Oklahoma. The ETF is expected to begin trading on the American Stock Exchange in April.
March 10 -
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Many community banking companies have wealth management units, but lately more small and midsize wealth managers have been getting into the banking business.
March 10 -
The Securities and Exchange Commission's recent proposals aimed at easing the burdens of providers bringing new exchange-traded funds to market should make new ETF launches an easier proposition while fostering even more product creativity, said investment management sources.
March 10 -
A proposal by the Securities and Exchange Commission to shorten mutual fund disclosure statements is meeting widespread support, and a new rule could take effect by 2009, if not sooner.
March 10 -
Denver-based Transamerica IDEX Mutual Funds group has shortened its name to Transamerica Funds, as it now resides within the larger Transamerica Asset Management Group, under insurance company parent Aegon. Plans are underway to identify and potentially merge redundant or overlapping funds, expand distribution efforts, craft retirement income-based solutions, strengthen the Transamerica brand and build the firm into a future top-tier investment group.
March 10 -
TrimTabs Investment Research said the U.S. economy lost 78,000 jobs in February, based on daily income tax deposits to the Treasury from salaried taxpayers. This number is higher than estimates from the Bureau of Labor Statistics, which reported 63,000 job losses in the same period.
March 7