Special Program Root Tag

The investor advocacy groups Fund Democracy and Consumer Federation of America are seeking the dismissal of a controversial new fund governance rule that's mired in the U.S. Court of Appeals process.

As baby boomers retire, a wave of lawsuits could come against their employer's handling of 401(k) funds, a recent article form Lawyers Weekly USA claims.

Fidelity Investments has declined to back Abigail Johnson for the company's succession. The news comes on the heels of reports last week that she transferred some of her stock to family trusts.

Robert E. Stansky, manager of the Fidelity Magellan Fund, is retiring after 22 years at the firm and nearly a decade at the helm of its largest fund, Fidelity Investments announced Monday.

In what is perhaps a further indication of its desire to play the role of detective rather than traffic cop, the Securities and Exchange Commission has tapped a pair of proven litigators to help lead its division of enforcement.

Although Baby Boomers may think a large inheritance will boost their retirement savings - with an estimated $45 trillion to be bequeathed over the next five years - they may be sorely disappointed, The Wall Street Journal reports.

The Securities and Exchange Commission is looking into whether traders at Fidelity Investments asked brokerage firms to adjust trades to affect their performance, the New York Post reports.

The Texas State Employee Retirement System is suing Putnam Investments, its former mutual fund adviser, for fraud, demanding the recovery of million of dollars in fees, the Austin American Statesman reports.

Abigail P. Johnson has trimmed her voting stake in Boston fund giant Fidelity Investments, a move that has raised speculation over whether she remains next in line to lead the family firm.

Securities and Exchange Commission attorneys recently filed a legal brief arguing that that SEC's pending requirement that mutual funds be chaired by independent chairmen is an appropriate action.

AUSTIN, Texas - The mutual fund industry has its first full year of the new compliance era under its belt, but a host of questions remain unanswered.

Questions having to do with compromising best execution of trades and paying above-average trading commissions in exchange for the receipt of soft dollars - be it research, equipment, software or other goods and services - have prompted the Securities and Exchange Commission to propose new guidelines with respect to the safe harbor on soft-dollar practices.

The 50-and-over crowd will soon have new mutual funds to consider investing their hard-earned money in.

AUSTIN, Texas - Karen Becker has met the "new" Securities and Exchange Commission, and she said it's a more thorough, more knowledgeable regulator than it was prior to the scandal.

Arrivato Advisors has launched the Arrivato Dow Jones U.S. Target Date Funds, a family of five target-date funds based on the Dow Jones U.S. Target Date Indexes.

Pali Capital Hires Yanello As Managing Director

AUSTIN, Texas - The deadline for mutual funds to implement agreements with intermediaries to accommodate the Securities and Exchange Commission's Rule 22c-2, or the redemption fee rule, is an entire year away, but experts have this message for the industry: If you haven't begun preparations yet, you're way behind.

Adequate equity exposure, proper diversification, active management and targeted communications to encourage steady investments over a long time horizon are some of the key ingredients for a successful target-date retirement fund, according to a recent report by the global investment research division of AllianceBernstein of New York.

It's a Hobbesian world out there for the sales team charged with selling asset management products. While it's the nature of a successful salesperson to work independently, focused on their own individual goals, they can be taught to work for the common good of the company. In fact, the winning firms will be those that succeed in aligning the interests of the individual external wholesaler with the strategic goals of the entire organization. Of course, there are many factors that go into creating a successful sales organization, but a motivated external wholesaler is certainly one of the most important.

Nearly 10 months since President Bush first revealed his desire to include private accounts in Social Security reform - an effort that included a three-month, nationwide barnstorming campaign to drum up support - the administration is no closer to getting a proposal heard by Congress.