A New York couple who lost more than $2 million on financial and health care stock investments made by their independent adviser in 2008 and who stopped opening their monthly statements has failed in a bid to collect damages from Fidelity Investments, the custodian for their RIA.
The office of New York insurance superintendent James Wrynn has ordered embattled bond insurer Financial Guaranty Insurance Co. to halt claims payments.
As part of her leadership role at Merrill Lynch & Co. Inc., Sallie Krawcheck has shown clear deference to the firm's storied past and has assiduously worked the phones, reaching out to leading members of the firm's old guard, including former chief executives David Komansky and Daniel Tully.
ING Groep NV, one of Europe's largest banking and insurance groups, reduced its losses to €712 million ($980 million) for the fourth quarter on Wednesday, reflecting a mixed operating performance and a big charge related to an earlier bailout.
Standard & Poor's cut its credit outlook for Citigroup and Bank of America to “negative” from “stable,” warning that shifts in the political winds don't bode well for some investors in these large institutions.
A sister who sued her brother and his brokerage firm won a $608,000 arbitration decision last month in a case that alleged, among other claims, churning of highly volatile stocks in the weeks leading up to the market collapse of September 2008.
The Labor and Treasury department have put out a request for information on the use of annuities in defined-contribution plans.
The benefits that financial advisers provide to a client going through a divorce start when that client first informs you of the wedding plans.
The transition support received when an adviser moves to a new broker-dealer tops the list of improvements registered reps want from their independent broker-dealer, according to the results of a new survey.
Like many financial advisers, Rick Kahler struggled for years over whether to hire a peer to review his personal financial plan.
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Retirement savings for workers automatically enrolled in individual retirement accounts under the administration's fiscal 2011 budget proposal would be invested in Roth IRAs — unless they specifically chose a traditional IRA.
OppenheimerFunds Inc. has lost its head of distribution, just five months after he joined the firm.
The Financial Planning Coalition has given up its effort to get Congress to establish a definition of financial planning that would have brought thousands of insurance and securities brokers under the sway of a new oversight board.
The key informant in the tax evasion case against Swiss bank UBS AG claims prosecutors made false statements to a judge who sentenced him to prison.
Stocks dropped early Thursday as a rise in weekly jobless claims dampened hopes about a key employment report due Friday.
Wall Street executives said Wednesday they underestimated the severity of the 2008 financial crisis and made poor decisions, while also defending their bonus and compensation practices to a skeptical commission investigating what caused the collapse.
A recent lawsuit concerning a failed investment in a life settlement has exposed a new area of regulatory uncertainty and potential liability for registered representatives and their firms.
Amid growing scrutiny of life settlements securitization, the Securities and Exchange Commission has created a task force to examine financial products, according to The Wall Street Journal.
