Money Management Executive Latest News

The NASD has reached a settlement with Waddell & Reed over allegations that the money manager profited heavily from inappropriately switching the variable annuities of more to 5,000 customers.

SEI Investments will provide an operations outsourcing solution for MFS Investment Management's rapidly growing separate account business.

The mutual fund arm of Canadian Imperial Bank of Commerce says it has implemented a fair-value pricing method for some of its investment funds, according to a report from Reuters.

Paul Roye, former top mutual fund regulator at the Securities and Exchange Commission is going to work for mutual fund giant Capital Research & Management, Reuters reports.

Mutual fund giant Fidelity Investments announced Monday a major restructuring that includes replacing Abigail Johnson, the chairman's daughter, with a committee to run its money management arm, Reuters reports.

After months of chipping away at the nation's biggest fund company, American Funds finally surpassed Fidelity Investments as the second-largest U.S. fund group in March, according to data from Financial Research Corp released last Wednesday.

Overall, inflows in stock and bond mutual funds, or long-term funds, rose 15% in March from the previous month, jumping to $28.4 billion from $24.6 billion in February.

A report released on April 22 from the U.S. Government Accountability Office (GAO) in Washington, gives the Securities and Exchange Commission a lukewarm grade of "C" in its lack of detecting the market-timing abuses that plagued the mutual fund industry and how it has flexed its regulatory muscle since the slew of secret deals were uncovered.

MFS Investment Management Chairman Robert Pozen detailed his "progressive indexing" proposal before the Senate Finance Committee in Washington on Tuesday, claiming it could close the long-term deficit dilemma confronting Social Security by more than 70%.

A proposed amendment to the already-adopted National Association of Insurance Commissioners' (NAIC) model legislation calling for broker disclosure is already raising serious concerns.