The Securities and Exchange Commission is examining disclosures for 401(k) plans and is looking at ways to provide such information using interactive software, SEC Chairman Christopher Cox today told the mutual fund industry today.
As they examine the 401(k) retirement plan system, policy makers would be wise not to focus all their attention on fees, Martin L. Flanagan, chairman of the Investment Company Institute of Washington said today at the ICI’s general membership meeting.
Conseco, Inc. in Carmel, Ind. today reported $14.6 in net operating income for the first quarter of 2007, down from $55.8 million for the same period a year ago.
Marsh & McLennan Cos. today reported that first-quarter income declined by 36% to $268 million, compared to $416 million for the same period a year ago.
The National Association of Securities Dealers and state regulators in North Dakota, Iowa and Minnesota signed a joint statement supporting a new rule to require that insurance companies and agencies recommend only suitable annuity products to their customers.
Liberty Mutual Group in Boston today announced that it will acquire all outstanding shares of common stock of Ohio Casualty Corp. of Fairfield, Ohio for $2.7 billion in cash, or $44 per share.
The chairman of the Senate Finance Committee said this morning that he would like to abolish the alternative minimum tax, but failing that, he expects that legislation delaying its impact on middle-income taxpayers will be approved by Congress this year.
MetLife Inc., the largest U.S. life insurer by assets, is reaping the benefits from its growing international business.
New accusations against equity index annuity sellers may lead to regulatory grief comparable to what property-casualty firms suffered during the contingent- commission scandal a couple of years ago, industry observers say.
Many top executives at large financial services companies saw a big jump in pay last year.
WASHINGTON — House Democrats are hoping to appeal to the middle class with a plan to shift to wealthy taxpayers the responsibility for paying the alternative minimum tax, but financial advisers in general think that it is a bad idea.
NEW YORK — Insurers are launching marketing blitzes to win the investible assets of the wealthy, but many will fail because they don’t understand how rich people think, some consultants say.
If your client is charitably inclined and has an individual retirement account that is subject to required minimum distributions (over age 70½), it pays to make a direct transfer to the charity from the IRA, rather than using other funds for their donations. There is no charitable deduction permitted, but the distribution isn’t included in income.
The Women’s Retirement Security Act of 2007 was introduced in the Senate yesterday In an effort to help women save for retirement.
For the second time in as many months, a Mideastern investor has acquired what it called a “substantial” stake in British bank HSBC Holdings PLC, according to published reports.
JPMorgan Chase & Co is reviewing security protocols after a video posted online showed someone displaying documents found in trash cans containing customers' personal information, according to CNN.Money.com.
Allianz SE noted that first quarter profits grew a hefty 80%, but results were enhanced from the sale of shareholdings in Germany. Net income crested at 3.2 billion euros ($4.35 billion) from 1.78 billion euros in the same period a year ago, reported Bloomberg.
Citigroup Inc. is looking to connect with its clients in a new ad campaign.
RBC Capital Markets has announced that it agreed to acquire Seasongood & Mayer LLC, a Cincinnati-based public finance firm and underwriter of municipal debt.
Thousands of protesters – some bearing signs asking “Is your Fidelity 401(k) funding genocide?” -- gathered in Boston’s Government Center Sunday to protest Fidelity’s investment ties to Sudan.
