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With the seven-day simple yield on money market funds now a mere 50 basis points, investors are beginning to look for other places to park their money. In the latest week for which figures are available, investors pulled $7.82 billion out of money market funds, iMoneyNet reported.
February 5 -
Van Eck Global has launched the Market Vectors Pre-Refunded Municipal Index ETF.
February 4 -
Morningstar has unveiled new research and ratings for the 3,000 mutual funds offered in Europe and Asia. With this new service, Morningstar is now offering written analysis on more than 5,000 funds. Worldwide, Morningstar tracks performance and operational data on 110,000 funds globally.
February 4 -
At a time when lawmakers are considering rewriting financial services regulations, even restructuring the whole system, the new Securities and Exchange Commission Chairman Mary L. Schapiro is planning to prove her agencys merit by stepping up enforcement and penalties, The Washington Post reports.
February 4 -
The Federal Reserve is extending a number of liquidity programs set to end on April 30 through Oct. 30 in light of continuing substantial strains in financial markets.
February 3 -
Fifty-five percent of the hedge funds in the U.S. are registered with the Securities and Exchange Commission, according to Hedge Fund Research.
February 3 -
Vanguard is entering the UK mutual fund business for the first time and has chosen Tom Rampulla, director of sales for Vanguard Advisor Services in the U.S. to head up the unit, since it will initially focus on selling through financial advisers.
February 3 -
The New Jersey Bureau of Securities has barred three former Merrill Lynch brokers for allegedly enabling Millennium Partners to place more than 25,000 market-timing trades. Further, the threeChristopher Chung, Kevin Brunnock and William Savino must pay $1.15 million in civil penalties.
February 3 -
Mutual fund prospectus provider NewRiver is suing Morningstar for using Internet espionage to steal information from its patent-protected system.
February 2 -
Charles Schwab Corp. said it plans to cut 500 to 600 jobs this quarter in its effort to contain costs.
February 2