Special Program Root Tag

The Securities and Exchange Commission's (SEC) suit against Goldman Sachs centers on the allegation that the Wall Street firm failed to disclose to investors the role an opportunistic hedge fund, Paulson & Co., played in choosing the assets underlying a CDO, before betting against it.

WASHINGTON—The Financial Industry Regulatory Authority is preparing to take enforcement action against certain firms for selling municipal bonds to retail customers without disclosing material information, including that the bonds’ credit ratings had been spiraling downward, a FINRA official said Thursday.

PALM DESERT, Calif.—The Securities Industry and Financial Markets Association is in discussions with the Securities and Exchange Commission and the Financial Industry Regulatory Authority to establish the first-ever licensing, training and continuing education program for operations executives at financial firms.

Putnam Names Marshall Investment Product Head

WASHINGTON -- Despite the enormous weight of proposed regulations bearing down on the financial services industry, mutual funds are taking the issue in stride, focusing on their core strengths of transparency, diversity and customer service.

Two veterans of the hedge fund world are touting a product they say lets advisers focus less on investment decision-making and more on business development and client service.

WASHINGTON -- The $12 trillion mutual fund industry will hit record sales of 20% or greater in 2010, driven by continued demand for bonds, alternative investments and international equities, Strategic Insight projects.

Competition Critical for Lifetime Income: SPARK

PALM DESERT, Calif. — Shortly after the chief systemic risk officer of the Depository Trust and Clearing Corporation warned attendees at a securities operations conference Wednesday here that Greece's crisis was a systemic problem, the Dow plunged 1,000 points.

Add target-date funds to the list of headaches for advisers and investors.

WASHINGTON—The Department of Labor and the Securities and Exchange Commission on Thursday issued an investor bulletin on target-date funds to better explain their intended function, glidepaths and appropriate use (see “SEC, DOL to Require More Target-Date Info,” MME 5/3/10).

WASHINGTON—The Securities and Exchange Commission is set to issue new rules on the use of derivatives in mutual and exchange-traded funds, Andrew “Buddy” Donohue, director of the division of investment management, told executives Friday at the Investment Company Institute’s General Membership Meeting.

WASHINGTON -- The Securities and Exchange Commission is embarking on a nationwide inquiry into municipal securities that will lead to specific recommendations for changes to laws and regulations to better protect investors and the market.

WASHINGTON - Despite the enormous weight of proposed regulations bearing down on the financial services industry, mutual funds are taking the issue in stride, focusing on their core strengths of transparency, diversity, customer service - and solutions.

WASHINGTON - The $12 trillion mutual fund industry will hit record sales of 20% or greater in 2010, driven by continued demand for bonds, alternative investments and international equities, Strategic Insight projects.

Charles Schwab will pay an additional $35 million on top of the $200 million settlement announced April 20 in the District Court, Northern District of California case against the Schwab YieldPlus fund.

In an effort to help advisors meet regulatory requirements, State Street Corp. launched a suite of money maket funds services.

The staff of the Securities and Exchange Commission will hold a public seminar next month to help mutual funds comply with new electronic filing requirement that take effect next year.

Primevest is starting a marketing push to get the word out about its Rep on Demand service.

Maintaining a competitive environment is critical to the continuing development of new lifetime income solutions for employer-sponsored retirement plans, the SPARK Institute said in a joint letter to the Department of Labor and the Department of Treasury.