What’s funnier than a hedge fund manager getting worked up over a garden hedge? Well, probably a lot of things. But in any case, James Chanos, head of short-selling hedge fund Kynikos Associates, is at war with his East Hampton neighbor Mark...
Justice tends to be far from swift when it comes to market-timing fraud. The Securities and Exchange Commission announced this week that it is returning ill-gotten gains to Pilgrim Baxter (investment advisor to the PBHG fund family) shareholders...
The subject of workplace water-cooler conversations could become increasingly financial in nature. That’s because, when it comes to retirement planning, employees with 401(k)s and other defined contribution plans want more financial planning...
To an almost comic degree, Wal-Mart has an insatiable appetite for expanding the reach of the products and services it offers, and now, behold, the behemoth has ventured on to your turf: financial advice. Meet Wal-Mart Easy Investing by Sharebuilder.
Under plans to expand its private banking presence, Wachovia Securities said on Thursday it would hire about 300 private bankers over the next three years, more than doubling its number of private banking relationship managers, according to a...
Misleading the Military: NASD fined two Fidelity b/ds $400,000 for preparing and distributing misleading sales literature that promoted Fidelity's Destiny I and II Systematic Investment Plans, which were primarily sold to U.S. military personnel.
When regulators play hardball—and lose.
Today the Board of Directors of the Certified Financial Planning Board of Standards Inc. (CFP Board), which controls the CFP designation, approved a second round of revisions to its code of ethics that were proposed in March, essentially...
Wachovia just launched itself into the big leagues. In a blockbuster deal this morning, Wachovia Corp. announced that it will acquire A.G. Edwards for roughly $6.8 billion in cash and stock to create a firm with $1.1 trillion in client assets...