Money Management Executive Latest News

Penelope Dobkin, who manages Fidelity Advisor Diversified International Fund, is banking on technology, health care and emerging markets

Revenue-sharing practices at Edward D. Jones that are now being questioned by regulators generated $82.4 million for the firm last year.

Thomas O'Neill, a former Piper Jaffray stock broker, is facing fines of up to $1.5 million and 10 years in prison after pleading guilty Wednesday to wire fraud and securities fraud in a Missoula, Mont. federal court, The Missoulian reported.

The Securities and Exchange Commission is urging a federal appeals court to dismiss a lawsuit brought by the U.S. Chamber of Commerce that targets a controversial new SEC rule for independent chairs of mutual funds.

The Securities and Exchange Commission is urging a federal appeals court to dismiss a lawsuit brought by the U.S. Chamber of Commerce that targets a controversial new SEC rule for independent chairs of mutual funds.

Mutual fund companies have turned over a new leaf in the wake of the scandals that hit the industry in the fall of 2003. Since last October, the S&P 500 Asset Management and Custody Banks Index has seen a 12% price gain, compared to the 5% increase in the S&P 500, Forbes reports.

Two brokerage firms reached settlements in market-timing and late-trading charges last week. Dallas broker/dealer Southwest Securities agreed last Monday to pay $10 million for allegedly failing to prevent its registered reps from submitting market-timing and late-trading mutual fund trades. Three managers and two brokers were also named in the suit, which the New York Stock Exchange and the Securities and Exchange Commission filed jointly.

With four owners in 4-1/2 years, many hope that VARDS has finally found a home with Morningstar, which announced last week it has bought the company from Finetre for $9 million in cash, adjusted for working capital.

NEW YORK - If history is any indication, the U.S. stock market should enjoy a measure of growth in 2005.

Charles Schwab Corp. of San Francisco has launched its third separately managed account program catering to the needs of registered investment advisors (RIAs), which Schwab's institutional services division primarily supports with custody and operational support services.