A California couple has filed suit against The Variable Annuity Life Insurance Co., an AIG Inc. subsidiary, claiming the company's sales agents misled investors about the tax advantages of using variable annuities in qualified retirement plans.
Finra has barred a registered representative after finding that the Virginia rep had misrepresented the return a client would receive on a deferred annuity.
Though adults know it would be disastrous to lose their income due to a disability, it seems only a minority of them actually insure against that risk.
OppenheimerFunds Inc. said Thursday it will pay $20 million to settle a lawsuit the state of Oregon filed over the company's management of its 529 college savings program.
Having taken over as chief executive of American International Group Inc.'s Domestic Life and Retirement Services, Jay S. Wintrob has assured employees in a letter that SunAmerica and VALIC products will be back on distributors' shelves.
Cincinnati Financial Corp. said Monday that Robert C. Schiff, a company founder who retired from the property and casualty insurer's board in 2004, has died. He was 86.
Despite an improving economy, losses and investment risks continue to loom ahead for life insurers' investment portfolios, according to a report from ratings firm A.M. Best Co. Inc.
Abu Dhabi's main sovereign wealth fund, which is alleging fraud over its $7.5 billion investment in Citigroup Inc., vowed to fight for its "legal rights."
Even as they fight a rule that would treat indexed annuities as securities, many insurers are pre-paring their agents to become registered representatives, should the rule become law.
Citigroup Inc. on Monday named Willem Buiter, a London-based economics professor and author, as its new chief economist.
Thomas Weisel Partners Group Inc., the San Francisco-based investment bank, faces a regulatory probe over the sale of $15.7 million in auction-rate securities as the market neared collapse.
“Headline risk” associated with municipal bonds went up today when the U.S. Census Bureau released data that state government tax collections totaled $715.2 billion in fiscal year 2009. That's a decrease of nearly $67 billion (8.6%) from fiscal 2008.
The Department of Labor and the Treasury Department have put out a request for information on the use of annuities in defined-contribution plans.
One bright spot in today's disappointing jobs report was the fact that the financial-activities sector of the economy added jobs for the first time since July 2007.
The economy lost more jobs than expected in December while the unemployment rate held steady at 10 percent, as a sluggish economic recovery has yet to revive hiring among the nation's employers.
Stock index futures are modestly higher, following the lead of markets overseas ahead of an eagerly anticipated government report on U.S. employment in December.
American International Group Inc. asked a federal judge to dismiss a case brought against it by a Canadian real estate investment firm concerning a swap deal initiated in 1990.
Listening to Mohamed El-Erian describe the unfolding “stable disequilibrium” of the global economy can be mind-boggling and depressing at the same time.
Goldman Sachs Group Inc.'s top executives will not receive cash bonuses this year, as the Wall Street giant bows to sharp criticism over its pay practices.
