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HUNTINGTON BEACH, Calif. - As omnibus accounts continue to grow in size and scope, it remains crucial for investment managers to keep oversight high and costs low.
October 20 -
HUNTINGTON BEACH, Calif. - Mutual fund industry leaders admit that years of deregulation allowed the current economic crisis to unfold, and many are anticipating a backlash of new and excessive regulations to result.
October 20 -
The Financial Industry Regulatory Authority has fined Banorte Securities International $1.1 million for improper sales of B shares of offshore mutual funds, as well as inadequate supervisory systems to monitor the sales.
October 16 -
Due to a sharp rise in the cost of living adjustment this year, the Social Security Administration is increasing benefits for Americans by 5.8%, the biggest increase since 1982. On average, that will mean an increase of $63 a month.
October 16 -
Whereas other leading industrialized nations have savings rates of more than 10%, notably Germany and Japan, the savings rate in the U.S. has been less than 1% for the past four years.
October 16 -
Despite the tremendous turbulence in the stock market, few investors are planning to sell their stocks and mutual funds or to curtail or entirely cease contributions to their 401(k), according to a poll from Ipsos/McClatchy. That said, more are paying closer attention to federally insured bank deposits, now that the guarantee has been expanded from $100,000 to $25,000.
October 15 -
The Securities and Exchange Commission and the Financial Industry Regulatory Authority announced the second annual CCOutreach BD National Seminar will be held on March 10, 2009.
October 15 -
Reserve Funds said that due to difficulties in determining investor shares held in its flagship Primary Fund on Sept. 15, it would have to postpone its planned $20 billion distribution of redemptions on Oct. 13.
October 14 -
Nine former and current traders with Fidelity Investments have reached preliminary settlements with the Securities and Exchange Commission for allegedly receiving more than $1.6 million worth of lavish gifts from brokerages seeking business from Fidelity between 2002 and 2004.
October 14 -
The Morningstar 1000 Hedge Fund Index declined 7.87% in September, its largest one-month decline since its inception in January 2003. In the third quarter, the index declined 13.17%.
October 14