Money Management Executive Latest News

AIG May Sue Goldman

Following a disastrous first quarter a year ago, T. Rowe Price Group Inc. announced Friday that its quarterly profits more than tripled.

The Financial Industry Regulatory Authority announced Thursday it has reached settlements with units of HSBC and U.S. Bancorp related to the sale of auction-rate securities that became illiquid when auctions froze in February 2008.

The civil suit filed against Goldman Sachs by the Securities & Exchange Commission alleging securities fraud could strengthen the argument to establish a universal fiduciary standard, according to legal experts.

The Department of the Treasury on Friday issued a questionnaire to primary dealers asking them how the SEC’s new money market fund rules, which take effect on May 5, could impact demand for Treasuries and the broader Treasury repo and cash market functioning. Treasury is seeking the information ahead of a meeting with the dealers on April 30.

JPMorgan, the nation’s third largest municipal underwriter, and Charles Schwab, one of the world’s largest financial services companies, have joined forces to meet what they see as increasing demand from retail investors in the fixed income market.

NEW YORK—The financial services industry might want to take a cue from Domino’s Pizza before declaring “mission accomplished” on the economic crisis.

Senate Banking Committee Chairman Chistopher Dodd (D-Conn.)’s financial overhaul bill takes issue with performance information in mutual fund advertisements and asks for a review of the practice by the comptroller general.

Between women living longer and financial crisis, they are concerned more than ever about not having enough money to last throughout their lifetimes. As a result, more women are buying income annuities to ensure they have sufficient retirement income.

The federal government’s Financial Crisis Inquiry Commission has subpoenaed Moody’s Corp. for allegedly failing to provide requested information.