Money Management Executive Latest News

A Financial Industry Regulatory Authority (FINRA) arbitration panel in North Carolina has rejected claim of raiding and unfair competition by Wachovia Securities LLC against broker Stifel Nicolaus & Co. Inc., and ordered Wachovia to pay $1.11 million in attorneys’ fees.

New York-based American International Group Inc. scored a victory in California Superior Court after a judge dismissed a lawsuit filed by a financial planner.

Corporate greed, moral hazard, lax oversight and foolhardy underwriting all contributed to the crisis in finance. Another factor, less useful for sloganeers but no less insidious, was the simple mispricing of risk.

Morgan Stanley has promoted Edward Keller to head of its U.S. prime brokerage business, according to an internal memo obtained by Investment Dealer's Digest.

Bank of New York Mellon Corp. has been gobbling up acquisitions throughout the recession in its quest to expand its business and extend its geographic reach.

The Securities and Exchange Commission is adjusting fees for some transactions as part of its requirement to keep collections stable.

Fidelity International has named Arne Lindman as president and CEO of its Asia Pacific operations.

Total assets of money market mutual funds continued their fall with a drop of $51.13 billion in the latest week to $3.269 trillion, according to the Investment Company Institute.

A growing number of employers are planning to incorporate annuities into their 401(k) plans as companies look for ways to provide workers with steady benefits in retirement, according to a survey by Watson Wyatt.

Regulators have agreed to delay plans to treat equity-indexed annuities like securities, but many bank-affiliated brokerages are already doing so.