Two former Credit Suisse brokers were charged today with defrauding their customers by making more than $1 billion in unauthorized purchases of subprime-related auction rate securities.
Facing jail time, a former branch manager for Banc of America Investment Services Inc. and A.G. Edwards & Sons Inc. owes two former clients $4.5 million after losing an arbitration claim last month.
Munder Capital Management Inc. has announced plans to exit the money market mutual fund business.
The Morgan Stanley Real Estate Fund VII Global will invest at least $1.46 billion in China over the next few years.
Insured losses from Hurricane Gustav were not large enough to affect the creditworthiness of the insurance and reinsurance industries, S&P said.
U.S. construction spending slipped 0.6% in July to a seasonally adjusted annual rate of $1.084 trillion, its lowest July level since 2004.
Henderson Global Investors, the Hartford, Conn.-based unit of Henderson Global Investors Ltd. of London, has launched the Henderson Industries of the Future Fund.
Retail ownership of U.S equities is at a record low, according to The Conference Board Inc.
Due to their longer life expectancies, woman should allocate much less to equities than advisers normally recommend, according to an academic paper.
Ladenburg Thalmann continued its expansion into the independent-contractor B-D industry by snagging two managers from Ameriprise Financial.
