Market forces work everywhere — even, it would seem, on the high seas. According to published reports, Somali pirates have created a stock exchange to manage their ill-gotten gains.
A judge in Los Angeles Superior Court pushed back a lawsuit against AIG from a financial planner who once worked for an AIG broker-dealer.
Massachusetts Mutual Life Insurance Co. announced another series of terminations this week, cutting back 160 posts in its Enfield, Conn., and Springfield, Mass., offices.
A recent bankruptcy protection filing by a provider of life settlements raises concerns that consumers in the midst of selling a policy, as well as investors, may get a raw deal in this and similar situations.
As states propose and pass rules for oversight of life settlement transactions, industry participants wonder just how far the Securities and Exchange Commission will reach into the market to provide uniform guidance on disclosure and broker registration.
State insurance and securities regulators yesterday appealed to members of the Senate for tougher oversight of life settlement transactions in order to curb abuse of senior citizens.
Wells Fargo & Co. today said that it would buy up Prudential Financial Inc.'s minority stake in Wells Fargo Advisors LLC, shelling out cash for the purchase.
Americans are more likely to turn to family members and friends — rather than advisers — for financial advice, according to data from Sun Life Financial Inc.
Although Americans are aware of the debilitating costs of long-term care, few seem to understand how to pay for those services, according to a study by MetLife Mature Market Institute.
Insurers claimed a small victory in the indexed-annuities war, as the SEC said it will delay by two years the effective date of a proposed rule that would make the products securities.
