Because the insurance industry has grown to $6.3 trillion in assets under management and $1.2 trillion in annual premiums, the regulations that govern the industry need to be modernized, according to House Capital Markets Subcommittee Chairman Paul Kanjorski, D-Pa.
Net purchases of stocks, notes and bonds obtained by foreigners fell to $11.2 billion in April.
The company, which markets itself under the name Lincoln Financial Group, said it will accept as much as $950 million in capital as part of the government's $700 billion TARP program.
The British Bankers' Association said the rate on three-month loans in dollars — known as the London Interbank Offered Rate, or Libor — was down 0.01 of a percentage point to 0.61 percent.
Standard and Poor’s Ratings Services has raised its outlook on TARP recipients The Hartford (Conn.) Financial Services Group and Lincoln National Corp.
American International Group Inc. and its former chairman and chief executive, Maurice “Hank” Greenberg, have a court date today related to a fight over a block of AIG shares that was sold for $4.3 billion.
The Office of the Illinois State Treasurer may reach a settlement with OppenheimerFunds Inc. by the end of this month to recover $77 million for the state’s Bright Start College Savings Program as a result of losses from the Oppenheimer Core Bond Fund last year.
Sun Life Financial Inc. today said that it will buy Lincoln National Corp.’s business in the United Kingdom for about $318.6 million.
The “liquor indicator” is showing that consumers are still worried about losing their jobs.
City National Corp., the bank holding company that owns Convergent Capital Management LLC, has agreed to buy a majority interest in Lee Munder Capital Group, a firm with more than $3 billion in assets under management.
Despite the intense scrutiny on executive compensation by legislatures and regulators, major brokerage firms continue to offer generous recruitment packages to top brokers.
A sprawling case of alleged securities fraud involving an independent broker-dealer and two brokers may wind up costing an insurance company $10.3 million.
Two-thirds of affluent parents with children under 18 aren't using Section 529 college savings plans, according to a report by The Phoenix Cos. Inc.
A “mockumentary” film to be released on DVD this month takes on Ponzi schemes, multilevel marketing scams and “the get-rich-quick mindset that nearly bankrupted America,” according to its official website.
As new annuity rules continue to develop, chief compliance officers at broker-dealers say that they still face some challenges in implementing compliance procedures with their financial advisers.
Rydex Investments, now Rydex SGI, is repositioning itself to focus on an expanded set of asset management capabilities.
Executives of Pershing, the largest provider of clearing services to broker-dealers, spent much of their energy at the firm's annual Insite conference trying to persuade clients to open their brokerage doors to fee-based registered investment advisers.
As Congress takes up health care reform, too little attention is being paid to long term care.
Something must be done to encourage employees of small companies to save for retirement. As many as 78 million such workers aren't saving for the future and ultimately will depend solely on Social Security for retirement income.
The Financial Industry Regulatory Authority Inc.'s proposal to widen its purview to include non-securities products has left some in the fixed-annuities industry gnashing their teeth.
