Special Program Root Tag

Reverberations from the mutual fund scandal continue, as the Securities and Exchange Commission last Thursday announced yet more market-timing and late-trading charges.

Most qualified plan investors have beaten the bear market, with 401(k) plan participants slightly better off than individual retirement account (IRA) holders, according to a study of five million households by the Vanguard Group's Center for Retirement Research.

Performance is back in vogue for mutual fund advertisements, and that is bad news for investors.

New York Attorney General Eliot Spitzer has been called everything from "The Most Feared Man on Wall Street" [see MME 11/10/03] to "tough cop" to "legal extortionist." He's even been dubbed "judge, jury and prosecutor."

For some time now, financial services companies, especially American ones, have been warded off by Japan's lackluster economy, in particular its prolonged battle with deflation.

State Street Corp., the financial industry's biggest recordkeeper, doesn't plan to be part of any consolidation trend that might spread through the custody services industry.

Old Mutual Asset Management has acquired a majority interest in Copper Rock Capital Partners, a small-cap growth shop comprised of veterans of other Boston-based mutual fund companies, the Boston Globe reports.

Money market funds have started to increase fees after cutting them during the days of low returns. Now that the economy is doing well, enough for money market fund yields to rise, funds are pushing up expense fees, according to Bankrate.com.

March was an unimpressive month for mutual funds because markets were down, according to a research report by Lipper.

As the debate whether mutual funds should charge performance-based fees continues, Don Cassidy, a senior research analyst at Lipper, says the main reason such fees have not caught on is that more funds underperform than overperform benchmark indexes.

As the debate whether mutual funds should charge performance-based fees continues, Don Cassidy, a senior research analyst at Lipper, says the main reason such fees have not caught on is that more funds underperform than overperform benchmark indexes.

BISYS Group Inc. issued an announcement yesterday that the Securities and Exchange Commission's investigation into the structure and accounting of its arrangements with certain mutual fund advisers is continuing.

Mellon Financial Corp. Tuesday reported a 24% increase in first-quarter earnings, owing to a $197 million gain from the sale of a stake in Japan's Shinsei Bank.

State Street Corp.'s first-quarter earnings rose 4%, helped by an increase in new customers, beating analysts' expectations of lower earnings due to high costs, volatile markets and climbing interest rates.

American Express Financial Advisors has filed suit in U.S. District Court in New Hampshire asserting that federal law preempts that state's securities regulators from pressing fraud charges against its brokers, The Wall Street Journal reports.

Jack Bogle, the founder and longtime chairman of the Vanguard Group, the country's second-largest mutual fund company, has lauded New York Attorney General Eliot Spitzer for his work in bringing order and justice to the American financial markets.

Jack Bogle, the founder and longtime chairman of the Vanguard Group, the country's second-largest mutual fund company, has lauded New York Attorney General Eliot Spitzer for his work in bringing order and justice to the American financial markets.

Stephen M. Cutler will depart the Securities and Exchange Commission later this month as one of the regulator's most active enforcement directors, but New York Post columnist Christopher Byron takes issue with what most casual observers would presume an impressive tenure.

A study of fund ratings services offered by Standard & Poors, Lipper, Morningstar and Aptimum, concludes that these fund ratings do not differentiate between market performance and managerial skill, making them unreliable and irrelevant.

Fidelity Investments' National Financial Unit plans to offer a unified managed account (UMA) this fall to its correspondent broker-dealers, according to Securities Industry News. The move comes at a time when financial advisers are having a hard time managing the growing number of investment products on the market.