The Charles Schwab Corp., concerned about liability related to hedge funds, is telling registered investment advisers that it will no longer accept custody of alternative assets.
Seeking to assess the strength of the insurance carriers they do business with, many smaller independent broker-dealers — flummoxed by the insurers' opaque balance sheets and arcane accounting practices — are relying on a time-tested tool: their own observations.
While R. Allen Stanford's investors were swallowing claims of vast returns on safe investments, some of his employees weren't so sure.
Concerned about liability related to hedge funds, Schwab is telling registered investment advisers that it will no longer accept custody of alternative assets.
The Labor Department said Friday that consumer prices rose by 0.3 percent last month, the biggest monthly increase since a 0.7 percent rise in July.
Trustees handling Bernard L. Madoff Securities is in the process of selling the market making operation connected with the firm, trustee Irving Picard said today .
A trustee of a charitable foundation that helps poor people in Central America and Mexico has filed a civil case against Texas billionaire financier R. Allen Stanford.
The Iowa insurance commissioner has eased accounting rules for 11 insurers based in the state, allowing them to polish up their balance sheets.
Morningstar Inc. yesterday reported a 3.5% decline in fourth-quarter earnings and the launch of a series of cost-cutting measures.
Commentators in Switzerland voiced their anger at the bank's business practices and what they saw as heavy-handed treatment by U.S. authorities.
Broker-dealers and registered representatives are being hit by the legal fallout of the historic market collapse.
The number of people collecting unemployment benefits rose to an all-time high of 4.99 million this month, according to the Department of Labor.
NYSE regulatory chief Richard Ketchum will be named the new chief executive of Finra, the Wall Street Journal reported today.
UBS AG will pay $780 million in fines, interest and restitution to avoid U.S. prosecution on charges that it helped wealthy Americans evade taxes.
Insurers doing business in N.Y. that receive breaks on accounting rules in their home states must adhere to N.Y.'s accounting rules when filing annual statements.
While acknowledging that the economic indicators have been “dismal,” the Fed has taken steps beyond reducing short-term interest rates to improve credit markets, Chairman Ben Bernanke said yesterday at the National Press Club in Washington.
Former Deutsche Bank general counsel and federal prosecutor Robert Khuzami today was named director of enforcement at the SEC.
The U.S. sued UBS AG today in an effort to get the Swiss bank to turn over the names of as many as 52,000 wealthy Americans who allegedly tried to evade taxes.
