Investment News articles from November 2006

Investment News archives from November 2006

Coffers swell after nixing of in-house funds.(News)
November 6, 2006... Byline: Gary S. Mogel NEW YORK - Since Symetra Life Insurance Co. changed its variable annuity mutual fund platform from proprietary to non- proprietary, income and revenue are up by about one-third. Although Jim Daniel, its vice...

Insurers seen as targets by private equity; Acquisitions likely.(News)
November 6, 2006... Byline: Gary S. Mogel NEW YORK - Private-equity firms increasingly view insurance brokers and companies as lucrative acquisition targets, according to industry observers. Acquisition announcements can be expected in the next few...

Floor traders are in limbo despite being acquitted; Cleared of crimes, specialists must wait to restart careers.(News)
November 6, 2006... Byline: Aaron Elstein NEW YORK - Donald Foley's 17-year career as a trader at the New York Stock Exchange started to unravel a couple of years ago. In 2004, with a federal investigation of illegal floor trading gaining steam, he was...

Reverse-LBO deals not so bad, study finds; They outperform other IPOs and broader market.(News)
November 6, 2006... Byline: Arleen Jacobius LOS ANGELES - Initial public offerings of leveraged-buyout-backed businesses have gotten a bad rap, two professors say. Contrary to popular belief, the IPOs of leveraged buyouts, called "reverse LBOs,''...

ISE's options bonanza lures too many rivals; Market trailblazer is hurt by success as others eye the booming business.(News)
November 6, 2006... Byline: Aaron Elstein NEW YORK - In just nine years, International Securities Exchange Holdings Inc. has graduated from obscure startup to the nation's leading options marketplace. By offering fast trading over sophisticated computer...

Many registered representatives would prefer to be fee-only; Majority would change channels if given the chance, survey shows.(News)
November 6, 2006... Byline: Bruce Kelly NEW YORK - Given the opportunity, a large number of registered representatives would abandon how they did business in favor of getting paid exclusively in fees, according to a new survey. Although just 5% of the...

Big investors snapping up seats on the CBOE; Hopes for a deal boost their price, but dispute looms.(News)
November 6, 2006... Byline: Ann Saphir CHICAGO - Big investors are buying up seats on the Chicago Board Options Exchange, an indication that they expect it to be swept up in consolidation in the wake of the Chicago Mercantile Exchange's $8 billion acquisition...

First Chicago name set for revival by alums; Investors plan IPO for local acquisitions.(News)
November 6, 2006... Byline: Steve Daniels CHICAGO - John Eggemeyer, a private-equity investor with a reputation as a canny acquirer of community banks, plans to establish a publicly traded Chicago bank through a series of acquisitions. His Castle Creek...

Institutions increasingly filing own securities suits; Higher damages, friendlier courts fuel stand-alones.(News)
November 6, 2006... Byline: Sara Hansard WASHINGTON - Institutional investors such as mutual funds and pension funds increasingly have turned to filing their own securities lawsuits over the past several years rather than merely settle for whatever they...

Corporate governance starts at the top, exec says; Citigroup's No. 2 man sees improvements on this front.(News)
November 6, 2006... Byline: Riva Froymovich NEW YORK - Top executives are responsible for instilling and fostering a culture of good corporate governance at companies, according to Citigroup Inc.'s vice chairman and chief administrative officer. "Good...

The importance of setting the fiduciary 'tone at the top'.(Fiduciary Corner)
November 6, 2006... Byline: Donald B. Trone I recently was asked to review and comment on a fiduciary audit prepared by Chicago-based Navigant Consulting Inc. at the request of the San Diego City Employees' Retirement System. One section of the report in...

UniCredito seen as most likely buyer for Putnam; With $87B market cap, Italian banking giant has the muscle.(News)
November 6, 2006... Byline: Kathie O'Donnell BOSTON - Given its deep pockets and the willingness it has shown in the past to pay up for a U.S. mutual fund company, UniCredito Italiano SpA is the most likely buyer for Putnam Investments, some industry...

Alternatives prove tempting, but it's still investor beware; Panel of experts argue pros and cons of hedge funds, SMAs, UMAs.(Round Table)(Discussion)
November 6, 2006... Byline: Jeff Benjamin NEW YORK - Lawmakers may have stalled in their attempts to regulate the $1 trillion hedge fund industry, but the issue is far from forgotten, and the debate rages on. "When you look at hedge funds, they're coming...

Becoming a fiduciary adviser no easy task; Providers of service face annual audits, personal liability.(News)
November 6, 2006... Byline: Lisa Shidler CHICAGO - Many advisers are unsure whether they should assume the role of fiduciary advisers to 401(k) plans. Under the Pension Protection Act of 2006, only fiduciary advisers can offer investment advice to the plans,...

Ex-Invesco marketer eyes microfinance for profit.(News)
November 6, 2006... Byline: Douglas Appell BOSTON - John Monahan doesn't expect a Nobel Prize, but the former partner in Atlanta- based Invesco Inc.'s global-asset- management unit is hoping to do well by doing good in the microfinance sector pioneered by...

'Entourage' creator's latest: 'Everybody loves hedge funds'; TV to dramatize Wall Street gravy train.(News)
November 6, 2006... Byline: Christine Williamson Proof positive that hedge funds have invaded popular culture: Doug Ellin's next creative endeavor will be a television series about a hedge fund trader and his middle-class to wealthy buddies. Whether...

Mutual funds should boost their proxy roles.(Editorial)
November 6, 2006... On Dec. 13, the Securities and Exchange Commission is scheduled to revisit the issue of opening the proxy process to shareholders. Chairman Christopher Cox and his fellow commissioners should take steps to make the process more open to...

Big disclosure loophole targeted; Rule change would disclose brokers' role in arbitration claims.(News)
November 6, 2006... Byline: Dan Jamieson IRVINE, Calif. - Regulators are poised to close a major loophole in the securities industry's disclosure regime. In coming weeks, NASD will propose a rule change that if enacted will force brokers to disclose...

Money managers' profit margins hit 31; Profitability report says innovators gain the most ground.(News)
November 6, 2006... Byline: Douglas Appell BOSTON - The asset management industry's profitability reached a five-year high in 2005, but that rising tide has masked a growing divide between winners and "also rans,'' according to a report by McKinsey & Co. of...

Bridgewater takes the portable-alpha route; Urges clients to follow suit.(News)
November 6, 2006... Byline: Christine Williamson CHICAGO - Bridgewater Associates Inc. is morphing into a portable-alpha-only manager and is pushing existing clients in more traditional strategies to join in the transformation. Those clients unwilling to...

The pitfalls of advising the risk-averse retiree.(Conference Calls)
November 6, 2006... Byline: David Clarke OTTAWA - Income trusts were a main focus of the Top Advisors Investment Strategies Symposium held by Toronto-based Mindpath Corp. late last month. The theme was "Best Strategies for the New Yield Hungry, Risk Averse...

October turned out to be not such a spooky month, after all: 98% in the black for the month.(The Markets: Closed-end Funds)
November 6, 2006... Byline: Tom Roseen After three interest-rate pauses by the Federal Reserve's monetary policymakers, impressive third-quarter earnings announcements and the return of gasoline prices to tolerable levels, markets recently have posted...

End near on fees for redemption? Fair-valuation tools to prevail, some say.(News)
November 6, 2006... Byline: David Hoffman PHILADELPHIA - Mutual fund redemption fees may soon be a thing of the past. In anticipation of a Securities and Exchange Commission rule that requires funds to consider redemption fees of up to 2%, State Street...

Hats off to Bernanke on a job well done.(Monday Morning)
November 6, 2006... Byline: Jim Pavia As a betting man, I would place wagers with financial advisers that many of their clients don't know what the Federal Reserve Board does and they have no idea who Ben S. Bernanke is or how his decisions affect their...

SEC considering new hedge fund regs; Looks to raise investment bar, improve disclosure.(News)
November 6, 2006... Byline: Sara Hansard WASHINGTON - Raising the qualifications for hedge fund investors is one of several rules that the Securities and Exchange Commission is considering in the wake of the U.S. Court of Appeals decision that overturned the...

7 more PowerShares/DB Commodity ETFs due; Some advisers, leery of niche products, recommend caution.(News)
November 6, 2006... Byline: David Hoffman PHILADELPHIA - There aren't many exchange-traded-commodities funds, but it looks as if that will soon change. PowerShares Capital Management LLC of Wheaton, Ill., has seven such funds in registration. When those...

In comeback, Nymex stages a major IPO; Computerized futures exchange set to cash in.(News)
November 6, 2006... Byline: Aaron Elstein NEW YORK - Next week, the New York Mercantile Exchange will strike the biggest gusher in its 134-year history: It will raise over $300 million in an initial public offering that will fix the value of the world's...

U.S. money managers behind in China; European firms quicker to invest in joint ventures.(News)
November 6, 2006... Byline: Mark Bruno NEW YORK - U.S. money management firms are underrepresented in the push to grab a piece of China's asset management market. That market gradually is getting more crowded - more with European firms than American ones...

A world of choices for the index investor; More providers, broader universes in global equity.(News)(Company overview)
November 6, 2006... Byline: Barry B. Burr CHICAGO - Global-equity indexes are undergoing their greatest transformation ever, giving investors more choices in broader universes and from more providers. Dow Jones Indexes, Wilshire Associates Inc. and...

Love affair with leverage could concern investors; Income/debt ratio on real estate could become issue.(News)
November 6, 2006... Byline: Arleen Jacobius LOS ANGELES - Real estate money managers are more in love with leverage than ever, but the relationship soon could be a problem for investors, according to a new study by New York-based Deloitte & Touche USA LLP....

Firms getting a bigger piece of insurance pie; 69% of companies hire outside managers to run some assets.(News)
November 6, 2006... Byline: Mark Bruno NEW YORK - About 69% of insurance companies outsource at least some portion of their general-account assets to unaffiliated investment managers, up from 64% in 2002, according to a new survey from Eager Davis & Holmes...

Calendar.
November 6, 2006... November 7 - Competitive Retirement and IRA Strategies: The Edge You Need, The American College. Westin St. Francis Hotel, San Francisco. (610)526-1209 or seminars@theamericancollege .edu. 8 - 401(k) Plans: Beyond the Basics, SunGard...

Indexes said to help investors grasp emerging markets; Retail investment generates transparency and competition.(News)
November 6, 2006... Byline: Riva Froymovich NEW YORK - The record-breaking initial public offering of Industrial and Commercial Bank of China Ltd. will further fuel investor interest in emerging markets, according to a veteran investment consultant. ...

Steps for surviving an SEC audit.(Practice Management)
November 6, 2006... Byline: Eric Clarke Three things are certain in life: death, taxes and audits. Whether you are a brand new investment adviser or have been registered for many years, regular audits are a routine event in the investment business. ...

Spitzer's successor faces heightened expectations; Neither candidate has a specific agenda as a securities cop.(News)
November 6, 2006... Byline: Riva Froymovich NEW YORK - Both major-party candidates for New York attorney general vow, if elected, to battle corruption on Wall Street much as incumbent Eliot L. Spitzer has done. But neither Democratic nominee Andrew Cuomo...

Fidelity Dividend Growth Fund poised to beat rivals; Gains by large holdings are likely to help it turn the corner.(News)
November 6, 2006... Byline: Kathie O'Donnell BOSTON - Manager Charles Mangum's $16.2 billion Fidelity Dividend Growth Fund is on pace to beat its large-blend rivals for the first time in four years, helped by stocks such as AT&T and Wyeth. San Antonio...

Industry Attitudes Round Table transcript.(Round Table)
November 6, 2006... Round Table Panelists: Don Phillips, a managing director with Morningstar Inc. Nicholas Georgis, managing director for distribution and strategy at Russell Investment Group Frank J. Corrado Jr., a partner in Lighthouse Financial...

Pension reform legislation could face revision; If Democrats win, they might employ technical-corrections act.(News)
November 6, 2006... Byline: Lisa Shidler CHICAGO - Advisers are bracing for the possibility that lawmakers might get another chance to make changes to the Pension Protection Act of 2006. The pension law already has been signed by President Bush, but...

Some Ohio plan terminations not proving terminal; 6 emerging managers report gain of $400M; 5 others lost $406M.(News)
November 6, 2006... Byline: Cecily O'Connor SAN FRANCISCO - Some of the emerging managers terminated by the Ohio Bureau of Workers' Compensation a year ago are having an easier time than others. The decision by the Columbus-based fund to terminate 69...

Vietnam poised to step into the light.(Short Interests)
November 6, 2006... Byline: Riva Froymovich NEW YORK - Vietnam's pending admission into the World Trade Organization, headquartered in Geneva, will oblige the Southeast Asian country to open its markets further to foreign investors and give homegrown...

Proxy delivery tool targets banks and brokers.(Product Watch)
November 6, 2006... Swingvote LLC, an Atlanta-based provider of an electronic-proxy-delivery-and-voting platform to institutional investors, has expanded its services to offer banks and brokerage firms a full-service solution to distribute shareholder materials....

Finding value in small-caps is getting harder; Increase in analysts, hedge fund interest cited as factors.(News)
November 6, 2006... Byline: Vince Calio NEW YORK - Opportunities to find value are shrinking for active domestic-small-cap-equity managers. An increasing number of small-cap-equity analysts, combined with the groundswell in the number of hedge funds that...

Divorce's bright side.(Short Interests)
November 6, 2006... Byline: Lisa Shidler CHICAGO - A recent survey by OppenheimerFunds Inc. of women age 55 and older showed that divorcees and widows were more financially comfortable than when they were married. The New York-based company conducted a...

Stealth health plan poised to gain momentum; Pension act gives boost to 401(h) accounts.(News)
November 6, 2006... Byline: Lisa Shidler CHICAGO - A plan that lets employers funnel money into retiree health care was given a boost by the recent pension legislation, but many advisers seem to know little about those plans - if anything at all. There...

Opinion poll.(Opinion)
November 6, 2006... Previously we asked you: Do you feel the latest mutual fund kickback scandal will help industry proponents in their attempt to get independent chairmen on fund boards? This week's question is: Should mutual fund companies drop...

Swine advice: Don't pig out on debt.(Short Interests)
November 6, 2006... Byline: Aaron Siegel NEW YORK - A new website is looking to help young Americans keep their feet out of the financial mud. The website, feedthepig.org, targets Americans ages 25 to 34 who face a "troubling'' financial future as a...

People.
November 6, 2006... Morningstar Inc. in Chicago has appointed Liz Michaels, Michele Gambera, James Xiong and Bo Yuan to the senior management and research teams at its Ibbotson Associates Inc. research and registered investment adviser unit, also in Chicago. ...

A boom in M&A up north spooks some; They fear `hollowing out' of corporate Canada.(News)
November 6, 2006... Byline: David Clarke OTTAWA - The Canadian mergers and acquisitions market has reached record levels, and some say the result is a disastrous scenario: a "hollowed out'' corporate Canada. What exactly do they mean by hollowed out? ...

Fisher Investments eyes a centralized roll-up; Firm's CEO sets sights on retiring advisers.(News)
November 6, 2006... Byline: Brooke Southall SAN FRANCISCO - Kenneth L. Fisher built a huge advisory practice using junk mail, and now he wants to gobble up financial advisers nationally using another unique approach. The founder and chief executive of...

Closing quote.(Opinion)
November 6, 2006... Byline: Dan Culloton "A power drill can help you fix your house, but it can also put a hole in your hand.'' - Dan Culloton, an analyst with Morningstar Inc. in Chicago, on how exchange traded funds that slice up the commodities market can...

Miller losing Midas touch, suffers client defection; Widespread seepage of assets seen unlikely.(News)
November 6, 2006... Byline: Kathie O'Donnell BOSTON - Francis Investment Counsel LLC, a firm that works specifically with retirement plans, saw something this year it has never experienced before: one of its clients exited Bill Miller's Legg Mason Value...

Studies call for firms to drop focus on quarterly EPS; Longer-term view more likely to match analysts' forecasts.(News)
November 6, 2006... Byline: Aaron Siegel NEW YORK - Following other studies written this year, a report from Parson Consulting LLC has come up with its own hypothesis as to why earnings should be reported differently from how they are now. "[We urge...

ING runs sponsorship.(Short Interests)
November 6, 2006... Byline: Aaron Siegel NEW YORK - Thirty-seven thousand wearers of orange ING logos hobbled, jogged and sprinted 26.2 miles through the city's five boroughs during the 37th annual New York City marathon yesterday, which the financial...

CPA firms taking a run at the wealthy; Buying up investment advisory firms, gaining share in wealth management field.(News)
November 6, 2006... Byline: Charles Paikert NEW YORK - Certified public accountant firms are making steady inroads into the growing wealth management market, according to industry executives and consultants. CPA firms with investment advisory units...

Study urges brushing up on communication skills; FPA finds that advisers need to converse effectively with clients.(News)
November 6, 2006... Byline: Aaron Siegel NEW YORK - Talking about football scores, a child's loose tooth and the mannerisms of the family dog come more easily than dealing with the logistics of a financial plan, according to findings from a study released at...

New AIG network team to tackle UMA platform; Royal Alliance CEO Larry Roth heads group's `executive office'.(News)
November 6, 2006... Byline: Bruce Kelly NEW YORK - Culling talent from across its broker-dealer network, AIG Advisor Group Inc. has created a new layer of management to tackle specific strategic issues, and one of the first challenges the group will wrestle...

AMTa mystery to a majority.(Short Interests)
November 6, 2006... Byline: Riva Froymovich NEW YORK - Only one in four Americans know what the alternative minimum tax is, according to a recently released survey by Eaton Vance Corp. Furthermore, the survey, based on telephone interviews of 1,010...

Fidelity recruiting raises some eyebrows.(Short Interests)
November 6, 2006... Byline: Brooke Southall SAN FRANCISCO - Fidelity Investments used a financial planning conference to hire financial planning consultants, but these investment professionals won't do any planning on behalf of clients, according to the...

Global REITs gain traction among investors; Global-REIT market pegged at $608 billion.(News)
November 6, 2006... Byline: Liz Skinner WASHINGTON - The explosive growth of real estate investment trusts that erupted in the United States in the 1990s is going global. An estimated $608 billion is invested in REITs that are traded on exchanges around...

E*Trade, Ameritrade dismiss online-account raids.(News)
November 6, 2006... Byline: Brooke Southall Companies contend that the problems are industry issues SAN FRANCISCO - After disclosing millions of dollars in reimbursements made to victims of online-account raids, E*Trade Financial Corp. and TD Ameritrade...

AIM fund ready for close-up as it hits 5-year mark.(Street Wise)
November 6, 2006... Byline: Jeff Benjamin The $1.9 billion AIM Diversified Dividend Fund (LCEAX) will hit its five-year anniversary at the end of the year, at which point it is expected to start landing on a lot of radar screens as a solid, total-return core...

SEC names Cohen deputy general counsel.(At the Bell)
November 6, 2006... The Securities and Exchange Commission said Friday that it has named Alexander F. Cohen as deputy general counsel for legal policy and administrative practice. He plans to join the SEC in mid-November. Mr. Cohen is a partner in Hong...

ETF powerhouses leery of fundamental indexing; Barclays and SSga reluctant to jump on the bandwagon.(News)
November 6, 2006... Byline: David Hoffman PHILADELPHIA - Although there has been a lot of buzz about the merits of fundamental indexing - the practice of weighting stocks on fundamental financial data rather than their relative size to the market - the two...

Mass. seeks comment on designation rule.(Reverse Spin)
November 6, 2006... Byline: Charles Paikert Lots of people talk about the "alphabet soup'' problem of too many designations for financial planners and advisers, especially those targeting the elderly, but the Massachusetts Securities Division is trying to do...

With Michael K. Farrell of MetLife Inc.(One on One)
November 6, 2006... Byline: Gary S. Mogel Michael K. Farrell went from running his own relatively small firm to running key divisions of one of the world's largest companies, New York-based MetLife Inc. On his watch, the company became even larger,...

Income tax status of municipals questioned; State split could prompt Top Court decision.(News)
November 6, 2006... Byline: Dan Jamieson IRVINE, Calif. - Several class actions have highlighted the issue of whether municipal bonds all should be treated the same under state income tax schedules. Once the court cases are resolved, some states may decide to...

Greenspan's hedge fund remarks the buzz at IMPACT.(Conference Call)
November 13, 2006... Byline: Sara Hansard WASHINGTON - Alan Greenspan gave a boost to hedge funds last week at Schwab Institutional's IMPACT conference here, while at the same time saying that he is "very concerned'' about the long-term fiscal situation of the...

LTC specialist brokers seek more adviser business; Many alliances involve compensation sharing.(News)
November 13, 2006... Byline: Gary S. Mogel NEW YORK - Insurance brokers that specialize in long-term-care coverage increasingly are seeking to partner with financial advisers, according to industry observers. Such relationships - which often involve a...

NASD's involvement in survey is questioned; Gadfly raises issues of conflicts of interest.(News)
November 13, 2006... Byline: Dan Jamieson IRVINE, Calif. - A survey intended as an independent inquiry into investors' perceptions of the securities arbitration system has come under attack before even seeing the light of day. The Securities Industry...

Oppenheimer chief economist has optimistic outlook for 2007.(Conference Calls)
November 13, 2006... Byline: Aaron Siegel NEW YORK - As long as investors stick with their gut feeling and don't put too much stock in hype and the words of doomsayers, the economic picture should look OK for 2007, according to an executive with...

Canadian regulators coming to terms with hedge funds.(Conference Call)
November 13, 2006... Byline: David Clarke VAUGHAN, Ontario - The oft-beleaguered hedge fund industry received a lot of kudos last week at the World Hedge Funds Summit 2006 in this Toronto suburb. Some came from sources one would expect to be appreciative...

Clinton gets standing ovation at LIMRA.(Short Interests)
November 13, 2006... Byline: Gary S. Mogel NEW YORK - Former President Bill Clinton's rehabilitation within the financial services community appears to be complete. The standing ovation he received at the annual meeting of LIMRA International Inc. here...

Ontario securities law to get in line.(Short Interests)
November 13, 2006... Byline: David Clarke TORONTO - Ontario securities law soon will be in basic harmony with the laws of other provinces. According to the notice that the Toronto-based Ontario Securities Commission posted on its website Nov. 3, "on...

Year-end tax planning can minimize AMT's effects.(Monday Morning)
November 13, 2006... Byline: Jim Pavia The phrase "ignorance is bliss'' should not be uttered in the same breath when discussing the alternative minimum tax. However, that seems to be the case when it comes to the average American taxpayer. Most Americans...

Selling advisers on 529 plans isn't as easy as 1-2-3, it seems; OppenheimerFunds offers menu of strategies at luncheon.(News)
November 13, 2006... Byline: Charles Paikert VOORHEES, N.J. - By noon on a recent Wednesday, 30 financial planners and advisers had filled up the back room of Coconut Bay Asian Cuisine, a Chinese restaurant in a shopping mall in this Philadelphia suburb. ...

Income Trust decision benefits financial advisers; Funds seen likely to be damaged, but favor taxation.(News)
November 13, 2006... Byline: David Clarke OTTAWA - The minority Conservative Party government's surprise decision to tax income trust distributions will put a premium on professional investment advice. "First and foremost, we recommend that individuals...

Retirees scramble for cash.(Short Interests)
November 13, 2006... Byline: Aaron Siegel NEW YORK - Even wealthy retirees rely primarily on Social Security and pensions to pay their bills, according to a survey released last week. About 91% of affluent retirees - defined as those with $100,000 or more...

Smaller 401(k) plans offer opportunities.(Conference Calls)
November 13, 2006... Byline: Lisa Shidler PALM BEACH, Fla. - The best opportunity for advisers in the 401(k) market currently is with companies that have less than $10 million in assets in their plans, according to industry experts. Trying to lure the...

Equity variable annuity investors witness their best October in three years.(The Markets)
November 13, 2006... Byline: Tom Roseen Driven by strong third-quarter earnings and declines in crude-oil prices, October equity fund returns were the best since those of 2003. Although variable annuity investors continued to shun U.S. equity funds, flows were...

Flood of firms offering back-office support to SMA industry; 7 outsourcing companies vie for business.(News)
November 13, 2006... Byline: Jeff Benjamin DETROIT - The separately managed accounts industry is in the midst of a land grab as a wave of firms is emerging to provide back-office and technological support to the hundreds of money management shops responsible...

Walnut Street faces the music; Fallout from two former brokers' `selling away' already has cost firm $1.05M.(News)
November 13, 2006... Byline: Bruce Kelly NEW YORK - Walnut Street Securities Inc. is bogged down in legal problems stemming from a failure to supervise brokers' outside business dealings, classically known as "selling away'' in the brokerage industry. The...

Closing Quote.(Reverse Spin)
November 13, 2006... "People would use ETFs more if they understood them better. They have an aversion to investing in things they don't understand.'' James Kibler, president of Eldridge Financial Planning LLC in New York. Page 3

At the Bell.
November 13, 2006... SEC chairman Cox: Single SRO is at hand The move to create a single self-regulatory organization for Wall Street is "very close'' to happening, Securities and Exchange Commission Chairman Christopher Cox said Friday. In fact, the...

Opinion poll.
November 13, 2006... Previously, we asked you: Should mutual fund companies drop their redemption fees? This week's question is: With Democrats in control of both houses of Congress, what should be the No. 1 priority of Congress next year? *...