Money Management Executive Latest News

Scott DeSano, Fidelity Investments' high-profile head of trading, has been reassigned to another post within the firm, according to a report posted to The Wall Street Journal's online edition Monday afternoon. The report cited "people familiar with the matter."

Paul Schott Stevens, president of the Investment Company Institute, said his organization, which represents close to 10,000 money management groups, isn't entirely satisfied with the guidance it's received from the Securities and Exchange Commission regarding late trading and market timing in the mutual fund industry.

In collaboration with London-based stock index provider FTSE Group, the Nasdaq launched four new indexes late last week.

The Missouri Department of Insurance has filed new rules that would affect the sales of variable annuities within the state. This follows jurisdictional wrangling (see AMN coverage: VA Industry Argues Against Dual Regulation in Missouri; Missouri Regulators Battle Over VAs) between the department and the Missouri Secretary of State, who has been arguing that the products should also be regulated as securities within the state.

Former Securities and Exchange Commission Chairman William H. Donaldson exited office on June 30, but the controversy he created is still a looming issue.

Scott A. Christian, a broker at the New York investment management firm Trautman Wasserman and Co. has pleaded guilty to charges of illegal late trading in mutual funds, the office of New York State Attorney General Eliot Spitzer announced late last week.

Thursday morning's series of blasts targeting public transportation during London's rush hour has set the world at high alert for terrorism and had an immediate impact on markets, but the long-term effect is likely to be negligible, some experts say.

Mutual fund companies may soon find the small, and sometimes not so small, perks from brokerage houses run dry.

Janus Capital is considering using hedge funds to help balance its product offerings, its new chief financial officer said.

Hedge funds might be red hot today, but, according to a new study from the U.K.-based think-tank Create and financial services consulting giant KPMG International, their popularity will cool in the coming years.