The National Futures Association suspended Christ Investment Service LLC, a San Francisco-based introducing broker, for allegedly illegally acting as a futures commission merchant and as a counterparty to foreign currency transactions, according to the association.
IntercontinentalExchange Inc. will open a trading center in New York's World Financial Center on April 12 to serve qualified professional traders.
Nasdaq Stock Market Inc. has teamed with BetterInvesting, a nonprofit investment education organization, to launch the BetterInvesting 100 Index, a listing of the top growth companies that the group's 13,127 investment clubs and 131,556 individual members hold.
Abolishing the role of mutual fund boards of directors in approving advisory expense ratios would lead to more competition in mutual fund fees, according to a book released in Washington today.
With the deadline for complying with the rule that governs agreements between them just a week away, mutual fund companies and intermediaries are busy ironing out last-minute wrinkles.
Brokers who left United Securities Alliance Inc. before its March 1 acquisition by Royal Alliance Associates Inc. received a letter from United’s lawyers last month that contained a surprise: They owe United $5,000.
Many Americans are paying high fees in their 401(k) plans for insurance they don’t need, and their employers often are unaware, some observers say.
Fee income from variable and fixed annuities, and mutual funds, sold by banks declined by 0.6% last year to $19.33 billion, from $19.46 billion in 2005, according to a recent study.
Peter Scaturro’s impending departure as chief executive of U.S. Trust has left Bank of America Corp., the venerable wealth manager’s prospective new owner, with a big mess on its hands.
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
