Switzerland cannot hand over files on 26 suspected tax cheats to U.S. authorities because their failure to properly declare assets doesn't constitute fraud under Swiss law, a top court has ruled.
ING Investment Management could go up for sale as part of parent ING Group's divestiture of its insurance business, according to ING spokesman Raymond Vermeulen.
European services giant ING Groep NV said Monday it will split itself in two, spinning off its insurance arm to simplify its business and issuing €7.5 billion ($11.3 billion) in new shares to repay state bailout money.
Clyde Wyatt managed his father's money for about 18 months before he was abruptly dumped for another adviser: His own son Chris.
The N.Y. AG scoffs at the former AIG boss' claim he knew nothing about sham transactions between the insurer and Gen Re
As the defined-contribution industry braces for new fee disclosure regulations, some corporate 401(k) plans — including Nestlé USA Inc. and United Parcel Service Inc. — are light-years ahead of the pack in providing participants with fee information.
Low interest rates and low contribution limits mean retirees can only count on health savings accounts to cover a portion of their health care costs
Financial advisers had hoped to begin this year with new momentum — the ability to swap clients out of existing annuities or insurance in exchange for long-term-care coverage — but broker-dealers have hit the brakes, citing problems with large amounts of paperwork to process the business, among other troubles.
Members of the life insurance and annuities industries have asked senators to rethink a portion of the health care bill that would hit annuity income with Medicare taxes.
Bernie Madoff is serving 150 years in prison for a multibillion-dollar fraud. Norman Schmidt got 330 years for his role in a huge investment scam. And then there's white-collar criminal Sholam Weiss, who isn't due for release until November 2754.
The CLASS Act, which sets up a government-run insurance program, survived the tortuous health-care debate in Congress. But experts can't predict how — or if — the controversial program will work
Participants in 401(k) plans do not want the government to require them to convert a portion of their 401(k) assets to annuities, according to the results of a survey of about 3,000 households released today by the Investment Company Institute.
Federal regulations and legislation that would make it easier for defined-contribution plans to include lifetime-income products are expected to be introduced next year.
Encouraging employers to offer annuities in pension plans will be one of the Labor Department's top regulatory goals in 2010.
The Labor and Treasury departments are discussing jointly submitting a request for comment from members of the retirement income industry to determine if there needs to be regulation of the market.
Some 41% of employees said they want more professional advice to help manager their 401(k) assets, but only 35% of employers currently offer retirement planning sessions
Of those taxpayers who are getting money back, 30% said they intend to pay down debt, 28% say they will save or invest, and 26% anticipate spending their refund on food or utility bills.
Despite some mixed data over the past couple of months, our view is that the global economic recovery remains on track, both in developed and emerging economies.
An eager crowd of about 700 bidders showed up at a North Salt Lake warehouse for a most unusual auction
Rhonda Breard, 47, promoted her financial expertise in television infomercials and in $49 seminars at local community colleges. Beginning in 2004, she started encouraging clients to take money out of certain accounts and turn it over to her — supposedly for new investments.
