Money Management Executive Latest News

The distributor and investment advisor for the Franklin Templeton family of mutual funds Monday agreed to pay $20 million to settle charges that they made ill use of brokerage commissions.

Fidelity Investments is gearing up for a fight with federal regulators now questioning a business relationship between a pair of siblings who handle a fraction of the fund giant’s trading business, The Boston Globe reports.

After jumping into the exchange-traded fund business only four years ago, the United Kingdom’s main stock exchange is quickly emerging as Europe’s hub for ETF transactions, Reuters reports.

Soon to retire Sen. Peter Fitzgerald (R-Ill.) recently applauded the efforts of federal securities regulators for their continuing efforts to enact a series of mutual fund reforms that benefit individual investors.

The NASD has come down on 29 broker/dealers for more than 8,000 instances of failing to disclose reportable information to customers. The firms have neither admitted to nor denied allegations, but consented to the entry of the findings. Reportable information includes customer complaints, regulatory actions, criminal charges and convictions.

Although there are still two weeks left to the year, the 2004 sector derby is in full swing.

Two attacks on the SEC's requirement for independent board chairmen are unlikely to topple the hotly contested rule, industry insiders say, and like it or not, funds run by outsiders could find their fees, and therefore their profits, reduced. But one ploy that could result would be a delay past the current Jan. 16, 2006 deadline for funds to install independent chairmen.

A bill introduced in the House of Representatives would permit employers to offer a hybrid defined benefit plan and defined contribution plan with employees receiving a single statement.

Index Development Partners, a nascent exchange-traded funds provider, is reportedly bulking up to break into the market by preparing variations of actively managed investments, which it is calling "performance indexes."

Pioneer Veteran Patel to Manage Opportunity Fund