Fidelity Investments, the biggest U.S. mutual fund company, today announced the launch of two new share classes of Fidelity California, Massachusetts, New Jersey and New York AMT Tax-Free Money Market Funds.
Tom Madsen, UBS Global Asset Management’s global head of equities, has stepped down from his post to take a business development role, according to published reports.
The American Stock Exchange today launched trading in the Claymore S&P Global Water Index ETF, the first exchange traded fund to cover the global water industry.
Charles “Chuck” Schwab again dismissed speculation that his company might acquire TD Ameritrade Holding Corp. or E*TRADE Financial Corp. by suggesting the two rivals might form a good union themselves, according to press reports.
NEW YORK — Consumers with low credit scores, many of whom already pay high interest rates on subprime loans, may be paying too much for something else: kits that claim to patch up their credit.
NEW YORK — As some U.S. senators find fault with the arbitration system that resolves client disputes with broker-dealers, the brokerage industry’s largest trade group is defending the process.
IRVINE, Calif. — Small brokerage firms are concerned about possible increases in net capital requirements that the Securities and Exchange Commission has proposed.
SAN FRANCISCO — Schwab Performance Technologies Inc. is waiving the $10,000 license charge for its PortfolioCenter portfolio accounting software for advisers with 50 or fewer accounts.
OTTAWA — An alternative trading system owned by Canadian banks — the announcement of which this month immediately knocked 12% off the share price of the Toronto Stock Exchange’s parent, TSX Group Inc. — threatens to upset Canada’s capital markets.
PHILADELPHIA — Mid-cap stocks rank among the best- performing mutual funds, but they remain a tough sell to investors, industry experts say.
