Money Management Executive Latest News

Close on the heels of U.S. regulators' investigations of mutual fund trading abuses, the Ontario Securities Commission began probing the Canadian mutual fund industry in November 2003. But unlike the spate of scandals that surfaced in the U.S., only a handful of companies were found to have engaged in shady trading practices.

SEC Promotes Hawke as Philly Associate Director

Fallout from fund company mergers often means fund service providers will find themselves in one day and out the next, without them having caused a single service breach, tech snafu or operations meltdown.

Too few choices in employee 401(k) plans have many investors reaping inferior returns because they're not properly diversified, according to a recent academic study published by three New York finance professors.

Money Management Executive and Source Media are accepting nominations for the third annual Fund Operations Awards.

A number of insurance companies such as MetLife Inc. and Prudential Financial Inc. are including more and more annuities products as offerings for 401(k) plans, according to Dow Jones.

The Federal Reserve Board has advised Citigroup not to do any big deals until its plan to bolster internal controls is properly executed.

On Wall Street, Eliot Spitzer needs no introduction. The New York Attorney General, who is visiting Ireland this weekend with his wife Silda and a group of New York lawyers and activists, tells the Irish Times what his rationale has been for being the Wall Street buster that he is.

American Funds seems to be on a fee-cutting spree. Capital Research & Management Co., which runs American Funds, has reduced the fees it charges investors for managing each of its stock and bond mutual funds, or advisory fees, by 10%.

The Money Management Institute, the national organization for the separately managed account industry, will host its Annual Meeting March 29 and 30th in Philadelphia. Titled: Opportunities & Obligations: Ensuring America's Retirement Security, the conference addresses the hot political, social and financial topic of how to deal with the pending retirement of Baby Boomers. The conference brings together sponsors, managers and technology providers to discuss the issues and solutions.