Citigroup to buy Forum Financial NEW YORK – Citigroup Inc., the world’s biggest financial-service company by market value, agreed to buy Forum Financial Group, a Maine-based provider of fund-administration services, to add accounting and transfer services for mutual funds and […]

THE FINANCIAL Services Authority is investigating the UK fund management industry for controversial dealing activities that take advantage of time differences across world markets to the detriment oflong-term investors. The activities are rife in the United States mutual fund industry. […]

BOSTON (AP) — The growing mutual fund scandal struck Prudential Securities Inc. on Tuesday as state and federal regulators filed civil charges against former brokers and branch managers atPrudential’s Boston office alleging improper trading. The complaints by the Securities and […]

Nov. 4–With the knowledge of their superiors, Prudential Securities brokers in the firm’s Boston office used multiple account numbers, misleading addresses, and misspelled names as part of a”fraudulent scheme to enrich themselves and their offshore hedge fund clients at the […]

Nov. 4–Financial services giant Citigroup announced Monday that it is acquiring Portland-based Forum Financial Group, a move that officials say eventually could double or even triple the size of theMaine work force. Forum, a low-profile provider of back-office services for […]

Nov. 4–The U.S. Securities and Exchange Commission and Massachusetts regulators plan to levy civil fraud charges today against former Prudential Securities brokers in the latest fallout from awidening probe of the $7 trillion mutual fund industry. State and federal regulators […]

Nov. 4–A bipartisan chorus of senators called yesterday for sweeping reforms of the $7 trillion mutual fund industry, accusing fund directors of rampant conflicts of interest and taking federalregulators to task for failing to detect management abuses that cost small […]

Former brokers at Prudential Securities who face charges that they made millions in improper trades had plenty of outside help, Massachusetts regulators say. A complaint being filed today, a copy of which was obtained by the Herald, claims sales representatives […]

Nov. 4–Bad news just keeps oozing out of the mutual fund industry, and increasingly it appears that the claim of federal and state regulators is true — that much of the fund industry is riggedagainst small investors. The once pristine […]

Nov. 4–Janus Capital Group Inc. announced earnings last week but said the numbers might change significantly before the official report prints Nov. 14. That’s the day the Denver-based mutual fund company plans to file its quarterly financial update with the […]

Prior to his appointment as deputy chairman of BSkyB yesterday, Lord Jacob Rothschild was not a name many would have associated with the technology-driven business of pay-TV. Neither, for that matter, would he have been considered a natural choice as […]

Nov. 4–WASHINGTON–At a Senate hearing Monday, lawmakers, regulators and even an industry spokesman portrayed the U.S. mutual fund business as a wasteland of deceit where insiders reap gains thatordinary investors could never achieve. Federal regulators promised to unleash a number […]