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Municipal bond mutual funds saw a huge week of inflows, as investors continue to see strength in the market.

The painful and embarrassing loss at the bank's chief investment office "plays right into the hands of a bunch of pundits out there," the CEO admits.

The Dow Jones Industrial Average finished in the black for the first time in seven trading sessions Thursday, gaining 19.98 points to close at 12,855.04 as bank and energy stocks moved higher.

Four credit unions in the Midwest have introduced investment programs with the help of CUSO Financial Services.

Independent Financial Partners, one of LPL Financial’s largest branches by revenue, had a surge of growth in the first quarter, increasing revenues by 65% and adding 47 professionals to the firm, the company announced.

May 10, 2012: ICI GMM 2012. Fidelity, Charles Schwab, MSSB, Dodge & Cox. When interest rates flip and rates start to increase, the value of bonds and funds that invest in them will get hit. And that can shock investors, said fund executives Thursday morning.

May 10, 2012: ICI GMM 2012. Regulators in nations around the world, including fast-developing markets, don’t know quite what to make of the asset management business, fund executives said Thursday. “Asset managers are considered the same as prop traders,’’ said Christian Dargnat, CEO, BNP Paribas Asset Management.

May 10, 2012: ICI GMM 2012. Arianna Huffington, William McNabb, Gillian Tett debate role of media in funds industry.

FINRA is substantially underestimating the costs to set up a self-regulatory organization for investment advisors, according to a review by an outside consulting firm. In response, FINRA says the review should be viewed with “skepticism and amusement.”

On May 10, 2012, Credit Suisse's Asset Management Division has launched the Credit Suisse Liquid Alternative Fund, designed to offer access to hedge fund-like returns, with the flexibility of daily liquidity, increased transparency and 1099 tax reporting.