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J.P. Morgan Chase said on Wednesday that it is purchasing Chicago-based Banc One Corp., not only creating a banking giant, but also spawning the fourth-largest fund firm, according to research firm Lipper of New York

FleetBoston said on Thursday that two of its subsidiaries received a Wells notice from the SEC, indicating the agency's regional Boston office had recommended enforcement action against the firm for shirking its fiduciary duties.

NEW YORK - The trek to the top isn't over quite yet, but the rate in which the economy climbs to the summit will slow in 2004, according to Robert Doll, Merrill Lynch Investment Managers' president and chief investment officer.

By Stephen M. Wynne, Executive Vice President, COO, PFPC Worldwide

Mutual fund managers who invest in companies with strong corporate governance profiles produce better long-term returns.

CINCINNATI - Although the Investment Company Institute successfully stalled the Baker Bill last spring, Congress is likely to pass and the President Bush is likely to approve the third piece of legislation in the history of mutual funds, ICI President Matthew Fink told the Greater Cincinnati Mutual Funds Association.

NEW YORK - As opposed to college planning, which dominated the Baby Boomers’ priorities 10 years ago, a financially sound retirement, maintenance of their primary residence, preparation for illness and taking care of their parents, are the major financial concerns of this group.

AdvisorCentral has agreed to an alliance with WiserAdvisor.com to help build advisers' practices through increased sales referrals.

J.P. Morgan Chase said on Wednesday that it is purchasing Chicago-based Banc One Corp., not only creating a banking giant, but also spawning the fourth-largest fund firm, according to research firm Lipper of New York

FleetBoston said on Thursday that two of its subsidiaries received a Wells notice from the SEC, indicating the agency’s regional Boston office had recommendation enforcement action against the firm for shirking its fiduciary duties.

Wielding their $1 trillion clout, state pension leaders and treasurers partnered with New York Attorney General Eliot Spitzer Thursday to tear into the SEC’s proposed fund reforms. (See release.)

The recent trend of "adopting" mutual funds while allowing sub-advisors to stay on is continuing, according to an SEC filing made by Pioneer Investment Management.

J.P. Morgan Chase and Bank One expect to cut 10,000 positions as a result of their $60 billion merger, announced late Wednesday afternoon.

The chairman and three-quarters of the trustees of mutual fund boards would have to be independent, if sweeping SEC fund reforms and a code of ethics are passed.

The NASD sued Waddell & Reed yesterday for allegedly forcing annuity policyholders to switch between one variable annuity and another, costing them $10 million in surrender fees – and earning the firm fat commissions of $37 million.

In a decision that may be a precursor to other fund families doing the same, the advisor to Sierra Club Funds and Forward Funds has changed its privacy policy and will disclose and update key information to investors on its Web site.

Fourth-quarter profits at Boston-based State Street Corp. rose $239 million, the company said Tuesday, thanks to recent acquisitions and a more productive market.

The NASD fined Worldco LLC $1.5 million and mandated a three-year barring of its chief executive officer Monday for not separating business operations from the hedge fund PTJP Partners.

WASHINGTON – Regulators delivered yet another blow to a battered industry on Tuesday as the Securities and Exchange Commission said it has found abusive mutual fund share sales practices at 13 of 15 broker/dealer firms it recently examined in regards to "revenue sharing" arrangements.

Deutsche Asset Management’s Scudder Investments had three international funds that were exposed to excessive market timing, an SEC filing revealed Tuesday.