Money Management Executive Latest News

California Attorney General Bill Lockyer has subpoenaed a number of leading mutual fund names in the state, his office announced Friday.

Strong Financial told its employees last week it is eliminating its 2004 pension plan contributions and ditching its matching contribution to employee 401(k) plans, amid a broad push to lessen costs at the heavily investigated firm.

Banc of America Securities, the securities and asset management unit of Bank of America, may face civil action from the SEC stemming from trading activity in the firm’s San Francisco office.

Ameritrade is finally seeing the fruits of its labor, especially when it comes to its Advisor Services division.

Even before Fundgate took the industry by storm, critics were calling into question the use of 12b-1 fees. And now regulatory action appears imminent.

Given the shocking developments that have come to the fore in the mutual fund scandal this past year, it is easy to lose sight of the fact that the stock market is on a tear.

If you sell brick houses, and the wooden houses next door catch fire, it's natural to see a marketing opportunity in your future.

Curian Capital will offer its managed account program through Security Service Investment Group, a unit of Security Service Federal Credit Union that distributes its investment products through a network of credit unions in San Antonio, Colorado Springs and Pueblo, Colo.

Fidelity Investments, the National Securities Clearing Corp. and a group of fund companies and broker/dealers have partnered in a yearlong project to develop the technology to time-stamp mutual fund trades. They are hoping that by time-stamping trade orders that come via outside intermediaries, only those orders made by the so-called "hard 4 p.m." close will be allowed to get through - thus eradicating illegal late trading.

A former attorney turned Las Vegas hedge fund manager has reaped the biggest gains so far in the unfolding mutual fund scandal, the SEC charged.