Merrill Lynch plans to reimburse by December 20 about $11 million to some 20,000 buyers of mutual funds it overcharged, according to the New York Times, citing people at the brokerage firm. After regulators began an industry wide investigation into
The Securities and Exchange Commission yesterday announced civil fraud charges against Mutuals.com of Dallas, Texas, and its CEO, its president, and its compliance officer, as well as two affiliated broker dealer firms. According to the charges, the defendants deceived hundreds
Charles River Development says AmerUs Capital Management has invited the firm to furnish it with electronic trading, order management, and real time compliance capabilities for its fixed income investment operations. AmerUs Capital Management is a subsidiary of AmerUs Group, a
Fortis Bank Information Banking has announced its appointment as global custodian by DHB Bank. Besides global custody services, Fortis Bank Information Banking will also act as broker and securities lending provider for DHB Bank. "The reason for choosing Fortis Bank
NewEuroMTS, the market for trading euro denominated government securities of the EU Accession States and which is aimed at promoting the efforts of the EU Accession States towards integration into the European fixed income capital markets, was successfully launched on
Boston based Putnam Investments and Janus Capital Group Inc. took hits when Anglo Dutch consumer goods giant Unilever fired Putnam from managing part of its UK pension fund and, in a separate decision, U.S. based DuPont Co. told employees they
Indiana's Teachers' Retirement Fund said on Tuesday it fired Putnam Investments as one of its money managers, becoming the latest investor to pull cash from the fifth largest U.S. mutual fund company amid an improper trading scandal. The $6.4 billion
State and federal officials investigating the mutual fund industry have filed civil charges against Invesco Funds Group and its chief executive on Tuesday, saying the company's top executives allowed dozens of investors to make improper trades. The charges against Invesco
Cerulli Associates has released its 2003 Quantitative Update on Retirement Markets in a Cerulli Report Release. The report addresses the fact that public and private retirement assets represent a growing percentage of total financial assets held by households, and that
The Ministry of Finance (MOF) has announced its plan to issue Exchangeable Government Bonds by the end of first quarter 2004. The first offer will be approximately NTD 30 40 billion (USD 880 million to USD 1.2 billion) with a