Money Management Executive Latest News

The No. 1 U.S. public pension fund placed a maligned Franklin Resources unit on probation Tuesday, pending further investigation.

The New York Stock Exchanges’s "trade-through" rule is outdated and should be nixed, a Republican member of the U.S. House of Representatives wrote in a letter to SEC Chairman William Donaldson last week.

Amid scrutiny on fees and public and political outcry over inflated costs to investors, the Investment Company Institute issued a report on Wednesday stating that the average actual cost borne by stock mutual fund shareholders has plummeted 45% since 1980.

North Carolina State Treasurer Richard Moore blasted the fund industry for paying ICI dues from investors’ pockets, while ex-SEC chairman Harvey Pitt voiced concerns about his former agency’s ability to deal with outside influences such as New York State Attorney General Eliot Spitzer, Reuters reports.

The Securities and Exchange Commission’s latest probe into Massachusetts Financial Services centers on its financial arrangements with several top brokerage houses, the company has admitted in a filing with the Commission.

The head of the world’s No. 1 mutual fund company said on Tuesday that forcing firms to hire independent chairmen might not be the end-all solution to fixing problems in the industry.

While they expect recovery in earnings and the overall economy to continue, global fund managers have slowly shifted toward more defensive strategies, according to survey results released Tuesday by Merrill Lynch.

New Jersey regulators Tuesday filed civil fraud charges against the PIMCO mutual fund group, alleging that the company defrauded investors by allowing a hedge fund to engage in improper trading.

Mutuals.com announced on Tuesday that it reshuffled its fund manager lineup last week amid allegations that two of its managers engaged in late trading.

SCOTTSDALE, Ariz.¾ Investors and financial planners have yet to reap the full benefits of annuity lifetime payouts, but they re slowly getting the message. thanks to Ben Stein, this year’s honorary chairman of the National Retirement Planning Coalition.