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Morningstar Awards Gold Medals to Three Fund Managers
Morningstar, Inc.’s three 2006 Fund Managers of the Year are “familiar names″ who have run funds recommended by the fund rating company for years, according to a press...
Another Insurer to Stop Contingent Commission Payments
Connecticut Attorney General Richard Blumenthal this week announced that The St. Paul Travelers Companies, Inc. plans to stop paying contingent commissions to insurance agents and brokers by the...
MA’s Galvin Examines “Hedge Fund Hotel″ Operations by UBS
Massachusetts Secretary of State William Galvin is looking into whether hedge funds have increased their trading fees to compensate banks for office space they lease as a temporary...
Women Have Disconnect in Saving for Retirement
Although a majority of women (72%) say retirement is their primary investment goal, almost half of them (48%) do not participate in a retirement savings plan and 60%...
Marsh&McLennan Agrees to Sale of Putnam
Marsh&McLennan has agreed to sell its money-management unit for $3.9 billion to holding company Power Corp. of Canada, sources told the Wall Street Journal.
IRS Calls for Comment on PPA In-Service Payout Provision
Federal regulators have turned to the public for comment on how to formulate guidance on “phased retirement″ in-service plan distributions as provided for by the Pension Protection Act...
Fidelity to Pay $42M into Funds After Report Reveals Brokers' Gifts to Traders
Fidelity Investments has announced it will pay more than $42 million to its funds after a report issued by independent trustees of Fidelity’s board said some of its...
Chubb to Discontinue Contingent Commissions to Agents and Brokers
Chubb Corporation announced on Thursday it will discontinue paying contingent commissions on all insurance lines in the United States beginning in 2007 as part of a settlement agreement...
A Third of Online Investors Flag Year End Gains for Retirement
Nearly one-third (27%) of online investors plan to focus some or all of their end-of-year investment gains on retirement and 22% plan to put them into savings.
Deere Workers Hit Fidelity with Excessive 401(k) Fee Suit
Four Deere&Co. workers have sued Fidelity Investments over charges it levies unreasonable fees to manage the Deere 401(k) plan.
SEC Expected to Ease Fiscal Control Audit Standard for Small Public Companies
A vote by the US Securities and Exchange Commission (SEC) this week is expected to start easing the accounting rules governing how closely small public companies have to...
Court OKs Class Action in Aon 401(k) Company Stock Suit
A federal judge in Chicago has certified as a class action a lawsuit against Aon Corp. over allegations 401(k) participants lost ten of millions of dollars when its...
Appellate Court Rules Options Taxable When Exercised
In the first time it has considered the issue, a federal appeals court has ruled that an employee's nonqualified stock options from his employer became taxable when the...
Clark Capital Unveils 401(k) Managed Accounts
Clark Capital Management Group, a Philadelphia-based investment adviser, has announced its Navigator investment platform is available for implementation in 401(k) plans.
NASD Fines Jefferies $5.5M for ‘Improper Gifts’ to Fidelity Traders
The NASD announced Monday it has slapped Jefferies&Company with a $5.5-million fine for providing “improper gifts and entertainment″ to Fidelity stock traders.
A.G. Edwards Excessive 401(k) Fee Suit Passes First Hurdle
A federal judge has cleared the way for a former employee of A.G. Edwards to continue pressing forward with his Employee Retirement Income Security Act (ERISA) fiduciary breach...
DoL Says Stock Windfall Belongs to Participants
The Department of Labor (DoL) announced it is suing the Iowa Association of Business and Industry over a stock windfall that the organization retained rather than turn over...