Money Management Executive Latest News

A former managing director of the Nasdaq Stock Market was sentenced today to 42 months in prison by a federal judge in Virginia.

As trading opens on another nervous week on Wall Street, mainstream investors are casting their votes on prospects by racing out of mutual funds that invest in stocks long-term.

Five years from now, the median account balance of a defined contribution plan assets will reach $150,000, up from $100,000 today.

The Securities and Exchange Commission has upheld an administrative judge's ruling that a mutual fund trader must pay more than $200,000 in penalties for accepting gifts from broker-dealers to steer trades their way. The regulator didn't buy the trader's excuse that the mutual funds weren't harmed.

During the first trading session after Standard & Poor's downgraded its rating of U.S. debt from AAA to AA+, investors got out of stocks and parked their money in ... U.S. Treasury bonds.

It is ironic that Standard & Poor's, one of the three major credit rating agencies at the heart of the financial crisis, would downgrade the United States' credit rating from triple-A to AA+. After all, S&P should have properly assessed the asset-backed housing securities that led to the Great Recession not as investment-grade but what they actually were. Junk.

Effective Sept. 30,Michael Kiley will become chief executive officer of Security Benefit Corp. He replaces Howard Fricke, who has been serving as interim president and CEO since February 2010 and was previously president and CEO of the firm from 1988 to 2000 and chairman from 1996 to 2006.

Redemptions. Mutual fund companies experience them all the time. Typically, every day.

As the financial markets hit investors with gale-force gyrations last week, most advisers are telling their clients to drop anchor.

There’s more bad news for the economy and the stock market after a report from Thomson Reuters and the University of Michigan found that their Consumer Confidence Index in early August plunged to its lowest point since May of 1980.