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The Reserve Management Company has begun making distributions to shareholders at an initial rate of 50 cents on the dollar, and its president says the company plans to pay the rest soon.
October 31 -
The Depository Trust & Clearing Corporation (DTCC) will begin publishing aggregate market data on credit derivatives, starting Nov. 4.
October 31 -
American International Group Inc. (AIG) is rapidly depleting the $123 billion in loans it has received from the Federal Reserve, according to a report in the New York Times.
October 31 -
Bank of America has sued two former bond managers at Bear Stearns, Ralph Cioffi and Matthew Tannin, who unloaded shares in subprime mortgage instruments they personally held in bond funds just prior to those instruments losing $1 billion in value.
October 30 -
The saga of Samuel Israel continues, with the $450 million Bayou hedge fund swindler now being sent to federal medical prison forpsychiatric evaluation. U.S. White Plains District Court Judge Kenneth Karas has sent Israel to Butner North Carolina Federal Medical Center for a complete medical and psychological evaluation, which could take up to 90 days.
October 29 - Money Management Executive
Mary Schapiro, chief executive officer of the Financial Industry Regulatory Authority, recommended that the brokerage industry be continue to be self-regulatory, but overseen by one tier looking for systemic risk and another scrutinizing business conduct. Schapiro made the remarks at the annual meeting of the Securities Industry and Financial Markets Association.
October 28 -
Few people know as much about mutual funds as Matthew P. Fink. For more than 40 years, Fink dedicated his career to serving the industry and its 88 million shareholders through his work for the Investment Company Institute, serving as its president from 1991 to 2004.
October 27 -
WASHINGTON - Despite signs of renewed strength in the credit markets, the Federal Reserve Board on Tuesday unveiled a new program to provide more liquidity to money market mutual funds.
October 27 -
XBRL US is asking mutual fund companies, investors and users of prospectus filing information for feedback through Nov. 24 on how well their suggested data tags will work for mutual fund summaries on risk/returns and schedules of investments.
October 23 -
WASHINGTON Despite signs of renewed strength in the credit markets, the Federal Reserve Board on Tuesday unveiled a new program to provide more liquidity to money market mutual funds.
October 21