Practice

Samuel Israel III, the former Stamford, Conn., Bayou hedge fund manager who authorities found to have cheated investors out of $400 million, was sentenced to 20 years in prison by a federal judge, the Associated Press reported Monday.

Gen Xers are stressed out about the prospect of retirement, with only 31% of them believing they will be able to retire from the workforce.

Mike Henkel, the former president of Ibbotson Associates, has joined Envestnet as managing director of the firm’s new retirement services group.

Hedge Fund Managers Have Rough Month

NEW YORK - Equity mutual funds were hit with "drastic declines" across-the-board in just about every sector and style in the first quarter of 2008.

Consumer confidence in the economy, including stocks, bonds, mortgages, credit cards and structured products, is dropping, but experts say consumers need to stay invested in a fully diversified portfolio of mutual funds for their own good and for the good of the economy.

While criticisms abound as to who, or which regulatory entity, or set of laws and oversight, is to blame for the credit crisis, the Securities and Exchange Commission is quietly flexing new muscle of its own on the mutual fund trading scandal front.

A U.K.-based hedge fund that was sued by the Securities and Exchange Commission on Thursday said the lawsuit is “utterly misguided,” and vowed to fight the charges.

Chinese regulators are becoming increasingly skeptical of financial advice from the U.S. to sacrifice the country’s stability for the greater good of stabilizing the global economy, Reuters reports.

Regulators at the Securities and Exchange Commission have sued London-based hedge fund Pentagon Capital Management Plc over an alleged scheme to defraud U.S. mutual fund shareholders.