- Money Management Executive
Franklin Resources was hit yesterday with fraud charges, as Massachusetts Secretary of the Commonwealth William Galvin charged the firm with harming long-term investors by allowing Las Vegas broker Daniel Calugar to market time the fund.
February 5 - Money Management Executive
By combining the assets of American Express Bank and American Express Financial Corp., the two entities parent company, American Express, announced the creation of a new global fund-of-hedge funds business.
February 5 - Money Management Executive
Six financial services companies, including UBS AG and Wachovia Corp., have reportedly agreed to settle SEC allegations that their brokers failed to give promised mutual fund discounts.
February 4 - Money Management Executive
Charles Freeman, 60, the head portfolio manager of the $19 billion Vanguard Windsor Fund, will retire at the end of June.
February 4 - Money Management Executive
Fidelity Investments might soon lose $475 million in assets that it runs for the Massachusetts state pension fund, Fidelity confirmed Tuesday.
February 4 - Money Management Executive
New York Attorney General Eliot Spitzer announced Tuesday the arrest of a former executive of Canadian Imperial Bank of Commerce for allegedly stealing $1 million from mutual funds in a late-trading scheme. In a related action, the Securities and Exchange Commission has filed civil charges against Flynn as well.
February 4 - Money Management Executive
U.S. Bancorp Asset Management said that it is cooperating with the Securities and Exchange Commission on an informal inquiry into trading activity in the First American Small Cap Growth Opportunities fund, according to a filing with the regulatory agency.
February 4 - Money Management Executive
By launching a new fund-of-funds called Portfolio Optimization Funds, Pacific Life Insurance Co. has added variety among the selections of 15 mutual funds and given permission to its registered representatives to open accounts and submit more investments.
February 3 - Money Management Executive
After 22 years working at T. Rowe Price, 55-year-old William Reynolds will retire as the companys fixed income director, effective this April.
February 3 - Money Management Executive
President Bush proposed Monday a $913 million budget for the Securities and Exchange Commission, one that would represent a 12.5% increase in available funds for the regulatory agency.
February 3