Special Program Root Tag

WASHINGTON Electronic communication, the way of life and doing business that it has become, demands greater vigilance on the part of mutual fund IT and legal experts.

SEC Appoints Thomsen As Enforcement Chief

The nations largest mutual fund company has done it again.

While calling a real estate management and development companys case against longtime tenant Bank of America audacious, a New York Civil Court judge has ruled that the landlord, Solow Building Co., can ask BoA to leave the building.

WASHINGTON Perhaps the mutual fund industry could borrow a page or two from the playbook of Gordon M. Bethune.

In the May 9 issue (see Fund CCOs Tackle E-mail Retention), Jim Volk was quoted without proper attribution. He is chief compliance officer and chief accounting officer for SEI Investments fund accounting and administration business.

The American Council of Life Insurers vocally applauded the U.S. House Ways & Means Committee for its recent hearing on retirement security. The organization stated that it "strongly supports" efforts that help Americans prepare for a new era of retirement.

The Securities and Exchange Commission on Thursday announced nearly $2.4 million in penalties in relation to actions brought against three hedge fund advisers, Galleon Management, L.P., Oaktree Capital Management, LLC and DB Investment Managers, Inc., for violations of Rule 105 of Regulation M.

Janus Capital Group Inc. has yet to sue former Bank of America broker Theodore Sihpol III over late mutual fund trades he made for Edward Stern's hedge fund Canary Capital Partners, the chief compliance officer of Janus testified Wednesday at Sihpol's fraud trial, Bloomberg reports.

SunTrust Securities and the Securities and Exchange Commission have reached a settlement over mutual fund breakpoint violations. The settlement is concurrent with cease-and-desist proceedings against the broker-dealer. Consequently, SunTrust has agreed to issue refunds with interest compounded , in addition to a commitment to stay away from any future breaches of security regulations.

NEW YORK--Social Security cannot be viewed in isolation but in combination with the tandem looming crises of soaring Medicare and Medicaid costs, U.S. Comptroller General and GAO Chief David M. Walker warned at a press conference Wednesday.

The nation's largest mutual fund company has done it again.

Vanguard Group has taken George U. "Gus" Sauter's name off of filings as a manager of its index funds, according to filings with the Securities and Exchange Commission.

Former hedge fund manager Hilary Shane has been permanently barred from associating with any NASD-registered firm and will pay more than $1.45 million to settle NASD and Securities and Exchange Commission charges of fraud and insider trading.

Testimony in the Theodore C. Sihpol case further damns the former Bank of America broker, according to Dow Jones Newswires. Michael Brown, who had been Sihpol's boss, said that Sihpol was "placing the orders in a normal period of time 1/4 right after receiving the orders."

Citigroup Global Wealth Management is joining the hedge fund fray.

The Hartford Financial Services Group has revamped its flagship Director variable annuity, renaming it The Director M, and adding six new investment managers. The previous iteration of the contract had only two investment managers but now more closely resembles The Hartford Leaders series of variable annuities, which feature sub-accounts managed by five investment managers.

Merk Investments has launched the Merk Hard Currency Fund, which will allocate assets over wide spectrum of high-quality, short-term money market instruments of countries perusing sound monetary policy, thereby hedging its U.S. investors' money against depreciation of the dollar.

Two lawmakers introduced a bi-partisan bill Tuesday that would make permanent the tax exemption on qualified withdrawals from 529 college savings plans.

While calling the real estate management and development company's case against longtime tenant Bank of America "audacious," a New York Civil Court judge has ruled that the landlord, Solow Building Co., can ask BoA to leave.