Fed Vows Patience on Rates, Drops ‘Considerable Time’
Wording change is consistent with recent policy moves and is meant to give Fed flexibility to raise rates if economy accelerates.
Economist pegs long-term budget pressures to retirement of boomers
Strong economic growth is reducing the deficit by boosting tax revenue and reducing the cost of social programs.
F-Squared Investments Says Regulators Consider Civil Action
F-Squared Investments, one of the largest managers of ETF investment products, said U.S. regulators were considering a civil action over performance claims.
Capital Group Joins BlackRock in Filing for Non-Transparent ETF
The owner of the American Funds family is seeking regulatory approval for a new type of ETF that would support more active management.
Some American Funds Clients Vulnerable to Heartbleed Bug
Parent company Capital Group urged 800,000 customers to change account passwords and other information to protect themselves from risk caused by the Heartbleed computer bug.
Vanguard Takes 90% of ETF Inflows in First Quarter
Vanguard added seven times more to ETFs in the first quarter than rest of the U.S. industry combined.
ICI: Too-Big-to-Fail Label Would Hurt Mutual Fund Investors
BlackRock, Fidelity and other U.S. mutual fund companies are pushing back against claims that some firms may be too big to fail.
Fund firms push back on too-big-to-fail designation
The Investment Company Institute argues that designation is unnecessary for retail funds because they rarely use leverage and are already tightly regulated.
Fidelity’s Morrison to Succeed O’Hanley as Investment Chief
Charles Morrison most recently was head of Fidelity’s $750 billion fixed income division.
Johnson to Pick a Fidelity Veteran to Replace O’Hanley
President Abigail Johnson has told employees that asset management head Ronald O’Hanley will be replaced by an internal successor.