News

A San Diego law firm has filed a federal court lawsuit against OppenheimerFunds over allegations fund managers concealed the fact that they had moved the Oppenheimer Champion Income...

The attorney general of North Carolina is seeking justification for the bonuses being paid to executives at the Charlotte-based Bank of America (BoA).

A lower court was correct in dismissing the lawsuit over unreasonable fees related to investments filed against Deere&Co. and two Fidelity units, an appellate court ruled Thursday.

ProFunds Group, which touts itself as the world’s largest manager of short and leveraged funds, says that Joanne M. Hill has joined the firm as head of investment...

JPMorgan Funds has named Jeffrey Chase as head of Southeast regional sales in the defined contribution investment-only business, the company announced.

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation, has been appointed as a portfolio strategist firm by Genworth Financial Wealth Management, Inc.

Financial Industry Regulatory Authority (FINRA) said Thursday that it has fined two Wachovia units more than $4.5 million for violations related to the sales of mutual funds and...

AXA Equitable Life Insurance Company announced the launch of its new online Beneficiary Resource Center to help beneficiaries and advisers file a life insurance or annuity claim.

The Baton Rouge Advocate newspaper has temporarily stopped contributing to its employees’ retirement 401(k) plan.

The New York Daily News has suspended its 401(k) match.

Putnam Investments plans to cut 260 jobs primarily in sales and operations.

State Street Global Advisors (SSgA) announced that the SPDR Barclays Capital Intermediate Term Credit Bond ETF started trading on the NYSE Arca Wednesday.

A court said Huntington Bancshares Inc. did not violate the Employee Retirement Income Security Act (ERISA) by continuing to offer company stock while suffering because of the subprime...

Senators introduced legislation that would require defined contribution plan sponsors to disclose fees to participants.

Reliance Trust Company, a division of Reliance Financial Corporation, has introduced a new 401(k) plan aimed at plan sponsors with a minimum of $25 million in plan assets.

New York Attorney General Andrew Cuomo continues to blast Merrill Lynch for its bonuses paid before the Bank of America (BoA) acquisition.

National Financial Partners (NFP) saw its stock soar after it announced it might pay off outstanding amounts in its credit facility, Reuters reported.

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National Retirement Partners, Inc. (NRP) said nine practices have recently joined NRP.

Two former chairs of the Securities and Exchange Commission will lead an independent panel to recommend ways to improve the regulation of the U.S. financial markets.