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NEWS WIREHOUSES MAY 14, 2007
Fidelity adds to AMT tax-free funds

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.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 14, 2007
Hancock swells portfolio strategies

John Hancock announced today that it is expanding its lifestyle portfolio strategies to include new emerging markets, mid-cap and small-cap values into the funds.

NEWS WIREHOUSES MAY 14, 2007
Schwab smiles on merger of rivals

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.

NEWS BROKER DEALERS MAY 14, 2007
SIFMA defends mandatory-arbitration system

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.

NEWS REGULATION AND LEGISLATION MAY 14, 2007
Capital requirements worry small firms

IRVINE, Calif. — Small brokerage firms are concerned about possible increases in net capital requirements that the Securities and Exchange Commission has proposed.

NEWS INDUSTRY NEWS MAY 14, 2007
Expensive credit repair kits not likely to go away

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.

NEWS INDUSTRY NEWS MAY 14, 2007
City National’s Lydian deal a bid to attract jet-setters

LOS ANGELES — City National Corp.’s acquisition of Lydian Wealth Management Co. LLC, which closed this month, marks a bold move by the financial services company to make significant inroads into the ultrahigh-net-worth market.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 14, 2007
Advisers, clients ignoring disability risk, experts say

NEW YORK — Financial advisers and their clients aren’t giving the risk of becoming disabled the attention it deserves, according to disability insurance experts.

YOUR PRACTICE FINTECH MAY 14, 2007
Schwab cuts PortfolioCenter price

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.

NEWS INDUSTRY NEWS MAY 14, 2007
A bank-owned trading system challenges TSX

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.