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RETIREMENT RETIREMENT PLANNING MAY 10, 2007
SEC eyes interactive 401(k)s

The Securities and Exchange Commission is examining disclosures for 401(k) plans and is looking at ways to provide such information using interactive software, SEC Chairman Christopher Cox today told the mutual fund industry today.

RETIREMENT RETIREMENT PLANNING MAY 09, 2007
401(k) fees aren't everything, says Flanagan

As they examine the 401(k) retirement plan system, policy makers would be wise not to focus all their attention on fees, Martin L. Flanagan, chairman of the Investment Company Institute of Washington said today at the ICI’s general membership meeting.

NEWS WIREHOUSES MAY 09, 2007
Morgan Stanley to pay $7.9 million

Morgan Stanley & Co. Inc. will pay $7.9 million for its failure to provide best execution to certain retail orders for over-the-counter securities, the Securities and Exchange Commission announced today.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 09, 2007
Conseco reports lower income

Conseco, Inc. in Carmel, Ind. today reported $14.6 in net operating income for the first quarter of 2007, down from $55.8 million for the same period a year ago.

NEWS WIREHOUSES MAY 09, 2007
Legg Mason 4Q profits jump 15%

Legg Mason Inc. posted a 15% increase in net income as increased advisory fees drove assets under management to record levels.

INVESTING ALTERNATIVES MAY 09, 2007
Fortress buys real estate developer

Fortress Investment Group LLC has announced that it will buy Florida East Coast Industries Inc. in a deal valuing the Jacksonville, Fla.-based real estate developer at $3.5 billion.

NEWS RIAS MAY 09, 2007
Fidelity unveils systems for RIAs

Fidelity Investments, in cooperation with Oracle Corp. and Emerging Information Systems Inc., has created two web-based customer relationship management and financial planning systems for registered investment advisers, the Boston-based firm announced today.

INVESTING ETFS MAY 09, 2007
Van Eck launches green ETFs

Van Eck Global launched the Market Vectors-Global Alternative Energy Exchange Traded Fund on the New York Stock Exchange today.

NEWS BROKER DEALERS MAY 09, 2007
ING cuts fees for advisers

As part of effort to spiff up its fee business, the ING Advisors broker-dealers have cut fees that their advisers pay for two key advisory offerings.

NEWS WIREHOUSES MAY 08, 2007
Citigroup to pay $200,000 for unit's misdeeds

Citigroup Inc. has agreed to pay $200,000 to settle charges with the Securities and Exchange Commission regarding one of its brokerage units that manipulated auctions involving municipal and corporate bonds.