Fortress Investment Group LLC has seen more than $4.5 billion in redemption requests from clients in the year ended Sept. 30, the giant hedge fund reported in its quarterly statement yesterday.
Foreclosure activity rose 25% in October from the same period a year ago, according to the latest data from RealtyTrac Inc. of Irvine, Calif.
Losses in the financial services industry since early 2007 are inching closer to the $1 trillion mark, according to data compiled by Bloomberg LP.
Virtually all senior hedge fund managers expect increased regulation for the alternative-asset-management industry under President-elect Barack Obama’s future administration, according to a study released today.
Agents and advisers are overlooking an opportunity for new life insurance sales: the middle market and minorities, said Catherine H .Smith, chief executive officer of U.S. insurance at ING North America Insurance Corp., in Atlanta.
Fortress Investment Group LLC posted a third-quarter loss of $57 million, or 66 cents per share, as the alternative-asset management firm proved susceptible to financial market turmoil.
Egregious risk taking in the name of impressive earnings has led to massive losses in the insurance industry, and now carriers need to think realistically about their pricing models and investments, executives said at a conference today.
The controversial proposal would move most EIAs from the status of insurance products, which are regulated only by states, to that of securities, which are federally regulated.
Finra has fined Citigroup Global Markets, the brokerage and securities arm of Citigroup Inc., $300,000 for failing to reasonably supervise the commissions that its brokers charged their clients on stock and options trades.
