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Securities Industry: Seeking Dilution of the Fiduciary Standard?
The big guns in the securities industry have expressed a desire for a “harmonized fiduciary standard” for broker-dealers and investment advisers. That sounds good, but as the details emerge, it looks more and more as though this "harmonized" standard is actually a "gutted" standard, tailored for the benefit of large financial companies.
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Caterpillar Settles Suit Over Excessive 401(k) Fees
Construction-equipment manufacturer Caterpillar recently announced its willingness to settle a lawsuit in which it was accused of charging excessive fees in four of its employee 401(k) plans.Read the full article
New England Economy: Not Out of the Woods in 2010
Yesterday the New England Economic Partnership (NEEP) held its Fall Economic Conference at the Boston Federal Reserve. Regional economists reported that they expect unemployment in New England to peak next year, despite improvements in the national economic outlook.Read the full article
One Out of Five Hedge Funds Is Lying
A recent scholarly paper reveals an interesting conclusion: quite a few hedge fund managers misrepresent the truth about past legal and regulatory problems, performance, or assets under management.Read the full article
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