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The Financial Industry Regulatory Authoritys National Adjudicatory Council yesterday upheld FINRAs 2006 decision to fine American Funds Distributors $5 million for directing tradersworth $98 million in brokerage commissionsbetween 2001-2003 to 46 broker/dealers that sold its family of 29 mutual funds.
May 1 -
The Hartford suffered a serious 83% drop in net income due, the firm announced yesterday, to poor investments.
April 30 -
While Warren Buffet continues to buy up and broker M&A deals, making financial news headlines left and right, a fund that mimics his preternatural talent for picking winning stocks, bonds and private equity opportunitiesand run by Buffets former stockbroker Bill Ruanehas reopened.
April 30 -
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The Charles Schwab Foundation will sponsor awards for the National Financial Literacy Challenge, a 35-question test of personal finance for high school students in the U.S.
April 29 -
WASHINGTON - The Office of the Comptroller of the Currency's $144 million enforcement order against Wachovia Corp. is likely to force banks to step up oversight of telemarketing customers.
April 29 -
Rick Lazio, head of government relations at JPMorgan Chase since 2004 and one-time candidate for New York Senator, is taking on a new role. He is now a managing director in the companys asset management operations.
April 29 -
At the Securities and Exchange Commission's meeting on April 17 and 18 in Washington, D.C., open only to chief compliance officers, SEC chief examiner Gene Gohlke announced that mutual funds can now add forensic testing to their SEC exam checklist of funds' own annual internal compliance reviews.
April 28
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Many investors are gasping at the first-quarter losses on their financial statements and wondering whether they should change their asset allocation to a more conservative plan.
April 28 -