News

State Street Corp. said on Monday the U.S. attorney in Manhattan and the New York attorney general are investigating its foreign-exchange trades.

In contrast to the majority of months in 2011, the net direction of 401(k) participants’ transfers in January 2012 returned to equities.

Total 529 college savings plan assets were an estimated $144.4 billion in Q4 2011, according to data from Financial Research Corporation (FRC), a division of Strategic Insight.

Nearly half (44%) of U.S. workers are worried about reductions in their retirement benefits over the next two years, according to a survey by Towers Watson. 

Net cash contributions to long-term mutual funds around the world came in at around $200 billion for 2011, down from almost $1 trillion in both 2010 and 2009,...

Moira Duffy joined USI Consulting Group as vice president, retirement services.  

Some industry experts are concerned that covered service providers will misinterpret the Department of Labor’s (DoL) 408(b)(2) regulation guidance about using ranges to estimate indirect compensation.  

An appellate court in New Jersey found a public worker did not intend to mislead the state and does not need to repay $258,191 in pension benefits mistakenly...

LPL Financial appointed Mimi Bock as executive vice president of Independent Advisor Services (IAS).   

Japan's financial regulator halted operations of a Tokyo money-management company after finding it allegedly lost billions of dollars in client money.

 BlackRock Inc.’s iShares Exchange Traded Funds (ETFs) business launched two dividend-focused equity funds designed to access the emerging markets and Asia/Pacific developed markets.   

Bank of America will freeze its pension plans for eligible employees, effective July 1, 2012.

The Tribune Co., GreatBanc Trust Co. and various insurance carriers completed funding a global settlement of $32 million for the Tribune Employee Stock Ownership Plan’s participants. 

 The Internal Revenue Service (IRS) released revised Form 941, enabling employers to properly report the newly extended payroll tax cut.   

The U.S. Department of Labor (DoL) obtained a summary judgment ordering Compass Capital Partners Ltd. and owner Harris M. DeWese to restore $661,206 to the defunct West Chester,...

The 6th U.S. Circuit Court of Appeals revived a stock drop lawsuit brought by General Motors retirement plan participants against State Street.

Seventy-three percent of Americans ages 18 to 34 do not currently invest in retirement accounts such as a 401(k) or IRA. 

The Financial Industry Regulatory Authority (FINRA) issued an investor alert called “It Pays to Understand Your Brokerage Account Statements and Trade Confirmations.”

The Securities Industry and Financial Markets Association (SIFMA) developed an Institutional Suitability Certificate to facilitate broker/dealer compliance with new FINRA Rule 2111, specifically when dealing with institutional clients. 

The American Psychological Association recently released the results from its "Stress in America" survey, which found stress levels differ among generations.