Subject Root Tag

As if working for Bernard L. Madoff Investment Securities wasn’t stigma enough, benefits consulting firm Hooker and Holcombe is using 6% of the money in the bankrupt company’s 401(k) plan to cover the $100,000 cost of winding it down. Across the board, every account in the plan is being deducted by that percent.

If the U.S. mutual fund industry would like a clearer picture of what would happen to sales if fees—particularly up-front, sales load, 12b-1 or 401(k) fees—were disclosed, it need only take a look at the disastrous results in India.

The American Council of Life Insurers is taking issue with a proposal by the White House to tax the “non-earned” income — for advisers, this includes annuity income — of people making $200,000 or more per year at 2.9% to help pay for Medicare.

Advisors spent much of the last two years telling clients not to worry about the day-to-day shifts in the market, that their goals are long-term. But are they applying their own mantra?

Traditional value has its fans Benjamin Graham for one but Evermore’s David Marcus says that approach can lead to a “value trap.”

Whitehouse plans to tax the “non-earned” income of high earners to pay for Medicare could hurt annuity sales, claims a lobbyist for the insurance industry.

The result of not having a uniform fiduciary standard for advisors across the board is the harm that investors will experience

Although women are just as optimistic as men about the stock market, women are much less confident about their investment decisions, according to a survey by MassMutual.

Retirement plans, endowments, foundations and other large investors in North America will turn over $420 billion in assets to new investment advisors, according to the “2010 Consultant Search Forecast” survey of 70 leading investment consulting firms by eVestment Alliance and Casey, Quirk & Associates.

The International Organization of Securities Commissions, of which the U.S. Securities and Exchange Commission and the U.K. Financial Services Authority are members, starting in September will ask hedge funds to provide high-level, bi-annual snapshots of: their stock and bond holdings, geographic and underlying currency exposure, leverage levels, sales and redemptions, investor classifications, primary marketing channels, recent performance, and operations and technology details, including turnover, clearing mechanisms and risk measures.

Privately held Fidelity Investments 2009 annual report indicated a 5% increase in operating profit to $2.51 billion, up from $2.39 billion in 2008, excluding interest expenses and taxes.

The Securities and Exchange Commission has charged one of Bernard Madoff's key operatives with falsifying accounting records to enable the multi-billion-dollar Ponzi scheme and illegally enrich himself, Madoff, and Madoff’s family and employees.

A former Deloitte tax professional has agreed to pay approximately $144,000 to settle insider trading charges with the Securities and Exchange Commission.

Wyden, Gregg ­Address Munis

WASHINGTON — The regulatory reform debate has now come full circle.

With an overflowing pot of capital at his small New Century Bank, Jay S. Sidhu is ready to make some big deals.

JPMorgan Chase & Co. chief executive Jamie Dimon said during his company's annual investor day Thursday that he has been turned off by the "capricious, arbitrary and punitive behavior" of regulators since his company accepted $25 billion in aid as part of the bailout of the financial industry in 2008.

Privately held Fidelity Investments 2009 annual report indicated a 5% increase in operating profit to $2.51 billion, up from $2.39 billion in 2008, excluding interest expenses and taxes.

The International Organization of Securities Commissions, of which the U.S. Securities and Exchange Commission and the U.K. Financial Services Authority are members, starting in September will ask hedge funds to provide high-level, bi-annual snapshots of: their stock and bond holdings, geographic and underlying currency exposure, leverage levels, sales and redemptions, investor classifications, primary marketing channels, recent performance, and operations and technology details, including turnover, clearing mechanisms and risk measures.

AXA Equitable uncovered a dismal outlook for the economy and retirement in “Retirement in America: A Survey of Concerns and Expectations,” in which it polled both investors and economists and found a large percentage of both groups bearish on the economy and the markets.