Money Management Executive Latest News

West Virginia has joined the growing regulator bandwagon, Reuters reports, citing SEC filings.

A Securities and Exchange Commission official Thursday expressed doubts about two SEC proposals put forth by his colleagues aimed at cleaning up the mutual fund industry, Reuters reports.

Rydex Investments this week launched 11 new funds spanning market capitalizations and investment styles, ranging from small to large cap, value to growth.

Responding to civil fraud charges, FleetBoston Financial has put eight executives on leave. They include James Tambone and Louis Tasiopoulos, co-presidents of Columbia Funds Distributor, the fund distribution unit of FleetBoston, The Wall Street Journal reports this morning.

The House Financial Services Committee passed legislation yesterday that would strengthen the SEC’s powers in detecting fraud.

In an effort to stifle the unfortunate trend of market timing, the Securities and Exchange Commission voted Wednesday to consider the division of investment management’s proposal that would make 2% redemption fees mandatory for shares redeemed within five days of purchase.

The Investment Company Institute spends $30 million each year just to lobby in Washington, and the lobbying group’s recent declaration that shareholder’s costs have dropped substantially since 1980 is just the latest example, according to a CBSMarketWatch.com column.

T. Rowe Price Group hired Kenneth V. Moreland Tuesday to be its chief financial officer.

Brinker Capital, one of the most preeminent providers of separately managed accounts, announced yesterday that it has broadened its "Destination" lineup to include passive large-core and real estate, and that it has reduced its fees from 50 basis points to 20 basis points.

A pair of regulators announced civil charges against FleetBoston yesterday, offering damning evidence that two of the fund shop’s subsidiaries allowed $2.5 billion worth of market-timing business throughout 17 of its funds.