IRVINE, Calif. — NASD continues to tinker with a pending variable annuity suitability rule, making a fourth proposed change in almost two years.
Citigroup Inc. is in talks to purchase Old Lane LP, a hedge fund run by former Morgan Stanley executive Vikram Pandit for more than $600 million, according to a Wall Street Journal report.
IntercontinentalExchange Inc. will open a trading center in New York's World Financial Center on April 12 to serve qualified professional traders.
CIT Group Inc. said Monday that it placed three top executives at its Student Loan Xpress unit on leave just days after the companies were subpoenaed by New York state Attorney General Andrew Cuomo in his ongoing probe of the $85 billion student loan industry.
Including annuities in 401(k) plans could represent a prime opportunity for advisers — if a new model for compensation can be devised and if advisers are allowed on-site to explain their product to employees, according to industry experts.
The Greenwich Global Hedge Fund Index rose 0.98% in March, bringing year-to-date returns to 2.82%, according to a preliminary report released today by Greenwich Alternative Investments LLC.
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.
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.
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.
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.
