Special Program Root Tag

Mario Gabelli, chairman, chief executive and chief investment officer of Gabelli Asset Management, was paid an eye-popping $55 million in compensation last year, a sizeable increase from the $38.7 million he earned the previous year.

The Securities and Exchange Commission has instituted administrative and cease-and-desist proceedings against 20 former New York Stock Exchange specialists on charges of securities fraud and other improper trading practices.

The Securities and Exchange Commission is investigating two executives at Bear Stearns for improper mutual fund trading.

WASHINGTON - The days of the SEC's five-year examination cycle are over, as more stringent oversight has set forth a new regime under which mutual fund chief compliance officers must keep their heads on a swivel.

As lawmakers in Washington continue their high-profile debate over Social Security privatization, mutual fund industry insiders are quietly conducting their own deliberations on the issue.

As President Bush pushes the issue of retirement investing to the forefront with his plan to partly privatize Social Security, leading fund complexes are responding to the heightened awareness by rolling out a number of new products.

Borrowing a strategy straight from the playbook of its longtime chairman, Edward "Ned" Johnson III, Fidelity Investments has quietly built one of the industry's biggest brokerage houses.

Fidelity Investments, already top dog among U.S. mutual fund complexes in the retirement field, is positioning itself to get an even bigger chunk of the market.

Stephen Cutler, Director of the Securities and Exchange Commission's Division of Enforcement, has announced that he intends to leave the Commission in about a month to return to the private sector.

A.G. Edwards & Sons took millions of dollars in secret kickbacks to promote some mutual funds, a class-action lawsuit filed on behalf of investors alleges.

The mutual fund industry might be appeasing investors by cutting management fees, but it's yet to embrace the performance-based fees its loosely regulated counterpart, the hedge fund industry, has used to its advantage.

Former Morgan Stanley manager Carolyn Patton has joined Janus Capital Group, to serve as director of global consultant relations, providing further proof that the Denver-based fund manager is serious about beefing up its advisory presence.

It's Spring and mutual fund breakpoint initiatives are in full bloom at National Securities Clearing Corporation (NSCC) of New York, a subsidiary of the Depository Trust & Clearing Corporation.

Wachovia Corp.'s corporate and institutional trust division started an institutional clearing services unit Wednesday, but industry analysts questioned whether the Charlotte, N.C. banking company would be able to compete in a business where scale is required.

Mutual funds finished the first quarter of the year in the red, with rising oil prices, increasing interest rates and the struggling dollar contributing to the slump in performance.

Manulife Financial Corp. may cut back on some of John Hancock's high-profile sports marketing efforts, company officials said, one year after the Canadian parent acquired Boston's most well known insurer, according to The Boston Globe.

Many financial companies and the NASD are pushing for a move that would change the way mutual fund investors receive prospectuses, the Associated Press reports.

It appears President Bush is about to reveal the one thing that everyone in the mutual fund industry has been eagerly anticipating: details on his controversial proposal to privatize a portion of Social Security.

Wall Street's toughest cop award would undoubtedly go to Eliot Spitzer. But in the aftermath of the scandals that the New York Attorney General unveiled, other regulators are taking an aggressive approach to cracking down on crime on Wall Street.

Wall Street's toughest cop award would undoubtedly go to Eliot Spitzer. But in the aftermath of the scandals that the New York Attorney General unveiled, other regulators are taking an aggressive approach to cracking down on crime on Wall Street.