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The Securities and Exchange Commission said it effected an "emergency asset freeze" against a 'purported fund manager' based in the U.S. Virgin Islands.

As the buyer base for Build America Bonds continues to expand, Fitch Ratings has created a website so investors unfamiliar with the municipal market can visit a "one-stop shop" for all BAB-related research

The Supreme Court ruled against the Public Company Accounting Oversight Board in a 5-4 decision, finding that the way board members are appointed is unconstitutional.

Global assets under management rose 16.3% to $49 trillion last year from a year earlier, according to Cerulli Associates.

While some financial companies worry about the ramifications of the sweeping financial reform that is set to pass, asset managers appear safe, according to a report released Monday by Keefe Bruyette & Woods.

Diligent Board Member Services, a small but targeted software company based in Manhattan's Silicon Alley and traded on the New Zealand Exchange, has developed software that allows mutual fund trustees to be nearly hands-, but certainly completely, paper-free.

JPMorgan Picks Braunsten As CFO in Mgmt. Shuffle

CHICAGO-The $787 billion debt overhang the federal government absorbed from the failed banking sector in the 2008 credit crisis will not come due until 2020, or perhaps later.

Microsoft has succeeded in entrenching itself onto the desktops of Wall Street with its Internet browser, Microsoft Windows and Excel. Meanwhile, key customer relationship and database management powerhouses are left to the devices of Cisco, SunGard, SAS, IBM and others.

NEW YORK-Final legislation to create a new systemic risk regulator in the U.S. has yet to be inked. But there was plenty of talk - and concern - at the Securities Industry and Financial Markets Association 2010 Financial Services Technology Expo here Wednesday.

Citi to Raise $3 Billion for Hedge Funds, Private Equity

The Supreme Court ruled this morning to uphold the tenets of the PCAOB and Sarbanes-Oxley rule in the Sarbanes Oxley Act of 2002 (SOX), Free Enterprise Fund v. Public Company Accounting Oversight Board. However, the Free Enterprise Fund and others could stage a shareholder campaign to remove board members, the high court said.

Legislators finally reached a compromise on the fiduciary standard bill late Thursday after fierce last-minute wrangling over its contents.

New York officials reached a handshake deal on the city's $62.9 billion budget late last week and spent the weekend trying to hammer out the final details as the state budget remained in legislative limbo.

CHICAGO - The Morningstar 2010 Investment Conference started with a thud Wednesday as hundreds of advisers, registered investment advisors and fund managers gathered to listen to the industry's best and brightest - only to be bombarded by pessimistic messages from fund managers such as Double Line Capital’s Je ffrey Gundlach. (See also, "Meet the Newest Emerging Markets Nation: The U.S.," in Monday, June 28's edition of Money Management Executive.)

CHICAGO — Yields on floating-rate municipal prepaid gas bonds with ties to BP have spiked to nearly 9% from less than 0.5% as credit analysts continue to cut their ratings on the oil giant.

Milberg LLP is preparing a lawsuit against BP and its four Employee Savings Plans, which collectively have $8.27 billion in assets under management.

Fidelity launched a series of resources for registered investment advisors to help maximize their referral flow.

RS Investments, San Francisco, announced Thursday it has entered into an agreement to acquire the portfolio management team of Oak Value Capital Management, Inc. of Chapel Hill, N.C. RS will also acquire "certain assets of that firm, including its investment management relationships," the company said.

CHICAGO—The $787 billion debt overhang the federal government absorbed from the failed banking sector from the 2008 credit crisis will not come due until 2020, or perhaps later.