AIG Fraud Trial: Tension Remains High as Greenberg Testifies for 3rd Day
Hank Greenberg faced questions on the stand again about how he dealt with warnings that AIG could face scrutiny after the Enron accounting scandal.
Ex-Broker Must Pay $600K for ‘Siphoning Money’ From Older Couple: FINRA
Jerome Krause fraudulently borrowed money from his clients when he was working for First Heartland Capital, FINRA said.
Boomers Are Biggest Investors in Surging ETF Market: Study
Investors are pouring huge amounts of capital into ETFs, attracted by their low cost and investment flexibility, and boomers are leading the charge.
SEC Enforcement: Merrill Lynch Fined for Mini-Flash Crashes
Also, Weatherford International, an oil services company, was fined for sneaky accounting practices.
Scottrade Said to Be Exploring Sale to TD Ameritrade
There is speculation that the discount broker, which works with about 1,000 RIAs, could be bought by TD Ameritrade.
California Suspends ‘Business Relationships’ With Wells Fargo
California is the largest municipal-bond issuer in the U.S. and has $75 billion in investments.
Wells Fargo’s Troubles Mount With Fine for Mishandling Soldiers’ Loans
DOJ is ready to sanction beleaguered bank over repossessions; OCC said to fine bank as much as $20 million over car seizures.
Vanguard Appoints John James as New Head of HR
Vanguard has appointed John James to be its new head of human resources beginning Dec. 31.
More Families Saving for College but Many Not Using 529 Plans
A new survey shows close to 60% of families are saving for college, but only 37% are using 529 plans.
Ex-Fed Chief Greenspan Tapped by Advisors Capital Management as Econ Advisor
Advisors Capital Management said former Federal Reserve Chairman Alan Greenspan is now an economic advisor to the $1.4 billion RIA firm.