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Massachusetts sued Merrill Lynch on July 31 on the charges of fraud and dishonest and unethical conduct, Reuters reports.
August 1 -
Luis A. Aguilar, a former partner at McKenna Long & Aldridge LLP in Atlanta, was sworn in as a member of the Securities and Exchange Commission on July 31.
August 1 -
U.S. junk bond mutual funds saw net inflows of $153 million in the week ending July 30, according to AMG Data Services.
August 1 -
U.S. Rep. George Miller of California is probably the best friend 401(k) investors have on Capitol Hill.
August 1 -
Despite market opposition, Argentina recently cut tax breaks for mutual funds and financial trusts, satisfying the center-left government promise to raise taxes on financial earnings, Reuters reports.
August 1 -
Pax World Management Corporation has settled charges by the Securities and Exchange Commission that two of its funds, Pax World Growth and Pax World High Yield, purchased securities that violated their fund policies.
July 31 -
Securities and Exchange Commission Chairman Christopher Cox and US Secretary of Labor Elaine L Choa have signed a Memorandum of Understanding (MOU) to formalize and strengthen the cooperation and relationship between their two agencies. The purpose of the MOU is to share information, related to investments and retirement, to help protect Americans $5.8 trillion in retirement assets.
July 31 -
The Securities and Exchange Commissions Office of Compliance Inspections and Examination released a new ComplianceAlert recognizing common flaws and weaknesses among mutual fund companies.
July 28 -
The Department of Labor on Tuesday proposed requiring 401(k) plan fiduciaries to supply investors with standard account summaries that will clearly state fees, expenses and any administrative costs such as legal, accounting and recordkeeping charges-in actual dollars. Plans will also have to provide performance figures and comparable benchmark returns, information on investment options and how to obtain more detailed information, including education and/or advice.
July 28 -
Investors alleging wrongdoing by their stockbrokers can choose to go to court or face an arbitration panel of three people, including one person from the brokerage industry and two from the public.
July 25