Money Management Executive Latest News

The Securities and Exchange Commission has adopted rules that substantially increase protections for investors who turn their assets over to investment advisers, which hopefully will prevent another massive, Madoff-like Ponzi scheme.

Industry groups across the independent advisory channel expressed approval over a proposed rule by the Securities and Exchange Commission that would exclude advisors whose only access to client funds is to deduct fees from surprise audits. The groups insist, however, that they are waiting to see the final rule – due out in several days at the earliest – before making any judgments.

State Street Global Advisors launched a short-term corporate bond exchange-traded fund.

Senate Finance Committee Chairman Max Baucus, D-Mont., dropped efforts to temporarily extend the estate tax at its current level in the face of Republican opposition.

Investors faced whopping losses as a result of the economic recession and the deep scars left by the financial insecurity of the past 18 months had most individuals investing in relatively safe bonds in 2009.

Putnam Investments announced Wednesday that its suite of target Absolute Return Funds has surpassed $1 billion in assets, less than a year after they were launched.

Many target-date retirement funds are still heavily invested in risky, high-yield junk bonds in order to give investors the yields they promise, Bloomberg reports.

WASHINGTON — Sens. Maria Cantwell, D-Wa., and John McCain, R-Ariz., introduced a bill Wednesday that would repeal the Gramm-Leach-Bliley Act of 1999 by restoring the walls between the banking, securities and insurance industries.

The SPARK Institute has released draft guidelines that help 403(b) retirement plans comply with new regulations, including Form 5500.

ING Group announced Wednesday it hired Lynne Ford as chief executive officer of ING Financial Solutions, the company's transformed annuity and rollover business.