Global investing

WASHINGTON—The Securities and Exchange Commission is set to issue new rules on the use of derivatives in mutual and exchange-traded funds, Andrew “Buddy” Donohue, director of the division of investment management, told executives Friday at the Investment Company Institute’s General Membership Meeting.

Connecticut's financial hub is struggling to rebound in the wake of the recession, but planners hope the area's relatively low real estate rates and high vacancies could attract jobs back to the area.

Bank of America’s U.S. Trust unit is embarking on a new advertising campaign aimed at ultra-high-net-worth individuals. The “What Is Worth?” campaign is an attempt to demonstrate to potential clients U.S. Trust expertise in managing both their tangible and intangible assets.

The pace of mergers and acquisitions in the asset management industry is expected to pick up for the rest of this year both nationally and globally after tumbling in the first quarter.

Investor confidence among millionaires rose to its highest level in more than two years as optimism about the economy increased.

WASHINGTON — Republicans, as promised, banded together to block Senate debate on financial regulatory reform legislation Monday, picking up opposition from one Democrat, Sen. Ben Nelson of Nebraska.

Although financial advisers expect 2010 to be a great year, wirehouses are still feeling the turbulence, and concerns about breakaway brokers, although waning, remain, according to Aite Group.

The civil suit filed against Goldman Sachs by the Securities & Exchange Commission alleging securities fraud could strengthen the argument to establish a universal fiduciary standard, according to legal experts.

NEW YORK—The financial services industry might want to take a cue from Domino’s Pizza before declaring “mission accomplished” on the economic crisis.

Despite increasing optimism about the economy, affluent investors remain concerned about retirement savings and the rising costs of healthcare.

As sentiment among wealth managers shifts, more capital has become available and companies right-size, banks, trust companies, wealth managers, and bank brokerages that are in a strong position to expand into a new market and acquire new units, will do so. But it is also the moment when companies without the capital—and stability—will get left behind.

Boosted by its investment banking and wealth management units, JPMorgan Chase & Co. reported stronger than expected first-quarter results. The New York-based company posted first-quarter earnings today of $3.33 billion, or 74 cents a share, a 55% increase from the year-ago period. JPMorgan Chase’s overall revenue rose 5% to $28.17 billion.

Despite strong market returns last year, a majority of financial advisers have found that their clients will have to work three to five years longer to maintain their standard of living during their retirement, according to a survey.

WASHINGTON — President Obama's successful fight to pass healthcare reform has given a bill to revamp the financial system a dramatic boost, lawmakers from both parties said Wednesday.

Seventy-five percent of financial advisers’ clients are planning to delay retirement up to five years, according to the quarter Brinker Barometer.

NEW YORK—Following one the worst global financial meltdowns, the economic recovery has exceeded almost anyone’s expectations and will get another jolt when employment numbers begin to improve in the next couple of months, according to Barclays Capital.

MetLife believes that the once-ignored “emerging investor” is becoming critical to adviser business as firms try to figure out how to retain and recruit new clients.

Fidelity Institutional has formed a new centralized client experience organization to improve service for registered investment advisors, broker/dealers, traders and family offices.

Jackson National Life Insurance announced it achieved record sales and deposits of $15.2 billion and record profit of $670 million in 2009. Sales and deposits were 8% higher than 2008, and net income increased from a net loss of $1 billion in 2008, primarily due to the positive impact of movement in non-operating derivative holdings and hedging practices for its annuities.

Eagle Asset Management has launched the Eagle Investment Grade Bond Fund, a mutual fund modeled on its High Quality Taxable fixed income separately managed accounts portfolio.