Money Management Executive Latest News

As some believe an economic slowdown is approaching, many investors have begun bowing out of high-risk bonds in favor of more conservative investments. But when it comes to high-yield, high-risk municipal bonds, investors continue to rush in, according to The Wall Street Journal.

Tax-free 401(k) inheritance will not be limited to spouses only anymore. Due to a provision in the pension law signed last week by President Bush, anyone will be eligible to inherit the money without immediately paying taxes on the windfall, the Los Angeles Times reports. The rule could save heirs thousand of dollars each year in taxes.

The Securities and Exchange Commission's division of investment management has issued a response to queries from the American Bar Association regarding the U.S. Court of Appeals' decision to overturn the hedge fund registration rule.

Events on both sides of the world brought bad news to the energy and transportation sectors this month. Although the market disruption seemed short lived, the thwarted terror plot in London and British Petroleum's pipeline problems in Alaska highlighted long-term concerns that both industries face.

Fund firms are starting to transform and modernize their distribution strategies to remain competitive as the asset management business becomes more consultative and investors look for value-added relationships.

BISYS' recent announcement that it has hired Bear Stearns to explore "strategic alternatives" has fueled much speculation that it is up for sale and plans to sell the company in pieces.

The U.S. Southern District Court has rejected a class-action lawsuit against Salomon Smith Barney that accused the firm of paying undisclosed fees to financial advisers and brokers to promote its funds and of encouraging its proprietary funds to invest in clients of the firm's investment banking division.

The Securities and Exchange Commission has issued a request for proposal for technology firms to submit solutions for applying Extensible Business Reporting Language (XBRL) to SEC filings so that it is easier for investors and analysts to navigate the filings and readily compare financial information among companies.

Morningstar has developed a Web-based tool to help financial advisers generate reports to communicate to investors all the fees and state tax benefits associated with 529 college savings plans, in response to the new Municipal Securities Rulemaking Board (MSRB) interpretation that became effective on Aug. 7.

Hewitt Associates Names Fradin Chief Executive