NEW YORK — A securities law firm is seeking class action status for clients who may have been financially damaged by an insurer’s threats and commission incentives designed to skew adviser judgment in favor of proprietary products.
OTTAWA — A tussle has erupted over what to do with complaints against more than 2,000 brokers that the Investment Dealers Association of Canada inadvertently posted on its website.
Bank of America Corp. chief executive Kenneth D. Lewis saw his stock options drop 8% to $10.8 million last year, compared with $11.7 million in 2005, according to Financial News.
Baby boomers who are retiring and rolling over their 401(k) money favor mutual fund wrap programs even though many are wealthy enough to qualify for separately managed accounts, industry observers say.
Joseph Moglia’s proclamation that his company is spending big money to align the TD Ameritrade brand with thoughtful investment advice drew initial applause from financial advisers listening to the Omaha, Neb.-based company’s chairman and chief executive at its Partnership 2007 conference here last week.
One of the founders of Financial Network Investment Corp., the largest independent-contractor broker-dealer in the ING Advisors Network Inc., walked out the door last month and joined NFP Securities Inc., leaving some observers to wonder how many registered representatives affiliated with FNIC eventually could follow.
The practice of borrowing company stock to manipulate the outcome of company votes has piqued the interest of the Securities and Exchange Commission and has rekindled a debate over stock lending.
Hedge fund manager Phillip Goldstein, who has been accused of marketing alternative-class investments to a non-qualified investor through his firm’s website, is crying foul by drawing attention to what he described as a “sting operation” aimed at him and his company.
Baby boomers who are rich in real estate now can get cash out of their homes without taking on debt or making a payment, but at least one competitor questions whether the idea is a Faustian bargain.
A trade group for the variable annuity industry today announced a technology initiative intended to save time and money for VA distributors through streamlining and standardization.
