Mutual funds

Despite the tremendous turbulence in the stock market, few investors are planning to sell their stocks and mutual funds or to curtail or entirely cease contributions to their 401(k), according to a poll from Ipsos/McClatchy. That said, more are paying closer attention to federally insured bank deposits, now that the guarantee has been expanded from $100,000 to $25,000.

The Securities and Exchange Commission and the Financial Industry Regulatory Authority announced the second annual CCOutreach BD National Seminar will be held on March 10, 2009.

Reserve Funds said that due to difficulties in determining investor shares held in its flagship Primary Fund on Sept. 15, it would have to postpone its planned $20 billion distribution of redemptions on Oct. 13.

Nine former and current traders with Fidelity Investments have reached preliminary settlements with the Securities and Exchange Commission for allegedly receiving more than $1.6 million worth of lavish gifts from brokerages seeking business from Fidelity between 2002 and 2004.

Fed to Buy up to $1.3 Trillion of Commercial Paper

The mutual fund industry has a long tradition of innovation and creative problem solving in times of challenge. These past months have been sobering, and the uncertainty around the financial services sector is not yet waning.

As the mutual fund industry approaches the first anniversary of the compliance date for SEC Rule 22c-2, it's an ideal time for a retrospective on the services, systems and processes in place to comply with the data-sharing components of the rule.

Reserve Management has shut down its U.S. Government Fund, the second fund it has liquidated, and has given no indication yet of when investors can expect their money to be returned.

ICI Re-Elects Murphy as Chairman of the Institute

Fidelity Investments' institutional wealth management arm is ratcheting up its pursuit of financial advisers and wealth managers who want to run their own shops.

In a new ad campaign, New York Life aims to distinguish itself from AIG and the growing host of other beleaguered financial services companies by emphasizing its long history, big surplus, AAA rating and customer-focused, mutual ownership structure.

Most Americans have started to reduce spending, according to a survey from TD Ameritrade Holding Corp. conducted by Opinion Research.

NEW YORK - In the wake of the ongoing credit crisis and illiquid money market, much of it due to the failure of a single money market mutual fund, the Securities and Exchange Commission plans to overhaul Rule 2-a7. Separately, the Department of the Treasury is looking into creating a market stability regulator with omniscient powers across the "entire financial system."

NEW YORK - As credit freezes up and liquidity all but vanishes, there is an enormous temptation for financial institutions and investors to hold on to their cash and brace for the worst.

New Hampshire regulators have fined a now-defunct mortgage company, First Call Mortage, in which Peter Lynch of Fidelity fame had a 13% stake, The Wall Street Journal reports. As such, Lynch faces an $85,000 fine, and First Call, $767,500.

Equity mutual funds have lost $43.3 billion in outflows already through Oct. 8, while money market mutual funds have reaped $60 billion, according to TrimTabs Investment Research.

With just $6 billion in assets left, of what once totaled $83 billion, Reserve Management is liquidating its 18 remaining funds.

The U.S. Justice Department has subpoenaed several large firms and agencies as part of an investigation to determine whether Lehman Brothers Holdings Inc. misled investors before its Sept. 15 bankruptcy filing, according to the Stamford Advocate.

Investors are continuing to add money to money market funds, adding $49.39 billion during the week ending Oct. 7, according to the Money Fund Report, published by iMoneyNet Inc. Total assets are now at $3.388 trillion.

Putnam Investments has named Jeffrey R. Carney as the new senior managing director and head of global marketing and products, effective Oct. 27.