Money Management Executive Latest News

NEW YORK--Citigroup Chief Executive Vikram Pandit said MF Global’s woes point to a need for an expanded focus on the shadow banking system and broader transparency for derivatives.

NEW YORK--Securities and Exchange Commission Chairman Mary Schapiro said Monday that the regulator had boiled down its plan to propose fundamental reform to the operation of the nation’s money market funds.

Commodity Futures Trading Commission chairman Gary Gensler said Monday he recused himself from the regulator’s probe of the failure of derivatives player MF Global, because “I didn't want my participation to in any way be a distraction.''

While 88% of mutual fund companies that Corporate Insight tracks offer materials on market volatility, only 40% organize this content into centralized outlets. This, Corporate Insight said, is "a key factor in determining firms' effectiveness in communicating with clients and prospects during ongoing market instability."

In today's complex distribution environment, mutual funds have fee arrangements with hundreds of third-parties that vary by product, platform and services provided. Complicating matters further is the continued adoption of omnibus accounts at brokerages, obscuring the underlying client and sales data.

Eileen Rominger, director of the Securities and Exchange Commission's division of investment management, testified last month before the U.S. Senate that the commission is reviewing whether the widespread use of exchange-traded funds is contributing to market volatility.

"A Random Walk Down Wall Street," written by Princeton economist Burton Malkiel, was first published in 1973.

Putnam Investments has named industry veteran Stephen Jenks head of products and marketing for its defined contribution business.

Order management systems help fund managers place orders on multiple trading venues.

To simplify or not to simplify?