Money Management Executive Latest News

The Securities and Exchange Commission is preparing a concept release on proxy firms and their OBO/NOBO (“non-objecting beneficial owners”) systems, Chairman Mary Schapiro recently told the Business Roundtable. The SEC aims to revise the proxy access rule by 2011.

The battle between Morgan Stanley Smith Barney and Merrill Lynch is heating up as both firms sweeten their recruitment packages, recruiters say.

Morgan Stanley denied the widely circulated news report Tuesday morning that it planned to cut 300 branches and 1,200 jobs.

Over the last number of years, mutual fund transfer agencies and shareholder communications companies have tried to convince shareholders to accept paperless summary prospectuses, proxies, trade confirmations and electronically stamped signatures. Fund supermarkets and web home pages have broadened their horizons to include market commentary, videostreaming and personal financial news.

John Hancock Retirement Plan Services has promoted six of its sales professionals to regional vice presidents, to strengthen its National Sales Team.

WASHINGTON — With lawmakers intent on sending a final regulatory reform bill to President Obama by July 4, much of the legwork is already happening behind the scenes on how to tackle a host of unresolved issues, including a proposed swaps ban, a stringent capital requirement, interchange fee regulation and a consumer protection agency.

Vercie Lark has joined DST Systems as chief information officer, overseeing the company’s enterprise information technology and data center operations.

As Loomis, Sayles Vice Chairman Dan Fuss told MME last month: “When interest rates eventually rise, it will become our entire focus. I’ve prepared for this well in advance “(see “Fuss: Interest Rate Policy Will Shape Recovery,” MME 5/3/2010).

Even with regulatory watchdogs barking, social media platforms like LinkedIn, Facebook and Twitter are becoming popular among financial professionals, suggesting institutional efforts to govern use is behind user adoption.

One of the great aftershocks felt in the wake of the financial meltdown has been a fairly loud drumbeat against Harry Markowitz’s modern portfolio theory.