Money Management Executive Latest News

The Financial Industry Regulatory Authority has censured and fined Piper Jaffray & Co. $700,000 for failing to retain about 4.3 million e-mails over a six-year period and for not alerting FINRA that it was having problems with its e-mail retention and retrieval.

Janus Capital Group CEO Richard M. Weil is planning to reshape his company from its domestic stock focus into a global, multi-asset management powerhouse.

Vanguard founder John Bogle says the mutual fund industry should care more about its shareholders, focus more on long-term investing and create better corporate governance standards.

According to a survey conducted in the first quarter by the Insured Retirement Institute released Monday the overall outlook for the annuity industry is positive. While some challenges remain, respondents indicated the growth industry’s opportunities are strong, with growth for variable annuities ranking 4.1 on a five-point scale, and fixed ranking 3.2 on the same scale.

The Depository Trust & Clearing Corporation (DTCC) has increased the number of securities in its coverage of corporate actions announced through its Global Corporate Action Validation Service (GCA VS).

After the so-called flash crash on May 6, and leading up to the $1 trillion debt bailout extended to Greece, the pros at Moss Adams knew how to react. They largely did nothing. There was no dumping of equities across the board. They did not pull up stakes and hunker down in cash positions.

Ninety percent of retail investors foresee market volatility remaining at or above its current level over the next three months, according to a survey by optionsXpress, an options and futures trading technology platform.

The financial regulatory reform bill recently approved by the Senate could be improved to address several key issues that could negatively impact mutual funds, said Paul Schott Stevens, president and CEO of the Investment Company Institute.

WASHINGTON — The recovery zone bond program would double in size to $50 billion and Build America Bonds could be used to do current refundings of existing BABs under a new tax and jobs bill released late Thursday evening by leaders of the House and Senate tax-writing committees.

U.S. Trust, Bank of America Private Wealth Management, an affiliate of the Global Wealth & Investment Management (GWIM) unit of Bank of America [BAC], announced that Grant Boyd had been named market executive in Greater Atlanta. Boyd previously worked at The Private Bank of Wells Fargo, where he was a senior vice president and private banking manager for the Southeast region. In his new role he will oversee the direction and growth of U.S. Trust’s relationships with high- and ultra-high-net worth individuals and families.