Federal regulators on Wednesday proposed to close a loophole that allows illegal after-hours trading in mutual funds, in a bid to help restore investor confidence in funds that has been shaken by aspreading scandal. The Securities and Exchange Commission voted […]

Tokyo, Dec. 4 (Jiji Press)–Stocks rebounded on the Tokyo Stock Exchange Thursday, led by the strength of stock index futures, but the key Nikkei average was stuck in a tight range for most of theday amid a wait-and-see mood ahead […]

As if he didn’t have enough problems cleaning up mutual funds and the New York Stock Exchange, Securities and Exchange Commission Chairman William Donaldson is about to face the biggest challenge ofhis nine-month tenure at the SEC: a growing rift […]

Tokyo, Dec. 4 (Jiji Press)–Stocks rebounded on buybacks on the Tokyo Stock Exchange Thursday morning, but the key Nikkei average became top-heavy after approaching a major resistance line of 10,500. “Investors covered short positions as they found difficulty chasing stocks […]

Richard Strong has relinquished control of the mutual fund company he founded, and regulators have filed suits accusing Invesco Funds Group and its chief executive of securities fraud in theburgeoning investigation of improper trading. Strong is under pressure from the […]

Dec. 4–Shrewd followers of the soap opera of Manchester United’s escalating share price will already know where to look for the next stock market raid by rich men with fat wallets. Lansdowne Partners, a secretive West End-based hedge fund led […]

WASHINGTON – Federal regulators on Wednesday proposed to close a loophole that allows after-hours trading in mutual funds, in a bid to help restore investor confidence shaken by a spreading scandal. The Securities and Exchange Commission voted 5-0 to tentatively […]

TOKYO, Dec. 4 (Kyodo) — Tokyo stocks closed higher Thursday supported by optimism about export-oriented high-tech and automaker sectors. The 225-issue Nikkei Stock Average gained 103.60 points, or 1.00%, to close at 10,429.99. The broader Tokyo Stock Price Index (TOPIX) […]

Dec. 4–Shares in London-listed Amvescap dropped 14 pence to 389 1/2 pence in heavy trading as investors fretted it might lose investment funds on the back of a civil action for fraud at its USsubsidiary Invesco Funds Group (IFG). In […]

Dec. 4–Alliance Capital Management will keep its contract to manage Rhode Island’s state-sponsored college-savings plan despite being implicated in the scandal rocking the mutual-fund industry. The State Investment Commission yesterday voiced its concerns to Alliance executives, but took no action […]

Dec. 4–Legal & General Investment Managers, the biggest institutional shareholder in Manchester United, has sold its stake to below the magic 3 percent level in a move highlighting the club’snew-found status as a plaything for tycoons. With its 7.8 million […]

Dec. 4–Strong Capital Management Inc. has hired Goldman Sachs Group Inc. and is seeking interest from potential bidders for the company before Christmas, a source familiar with the situation toldthe Milwaukee Journal Sentinel Wednesday. Strong hired Goldman, but a sale […]