Oct. 30–The New York attorney general’s office plans to take action against Richard S. Strong on allegations that he profited from improper trades in and out of shares of his company’s mutual funds. A spokeswoman for New York Attorney General […]

Tokyo, Oct. 30 (Jiji Press)–Foreign investors turned net sellers of Japanese stocks last week for the first time in four weeks, according to data released Thursday by the Tokyo Stock Exchange. Nonresidents’ net selling came to 89,543 million yen in […]

A former executive of Lipper Holdings was indicted Wednesday on charges that he caused the values of two hedge funds to be overstated by hundreds of millions of dollars. Edward Strafaci was accused of making the Lipper funds appear far […]

NEW YORK (AP) – Many mutual fund firms are enjoying strong quarterly earnings, thanks to growing investor optimism and a rebounding economy. But a widening regulators’ probe into shady tradingpractices threatens to cut into fund firms’ profits. Massachusetts and federal […]

Oct. 29–The chief of Wachovia Securities’ brokerage group stepped down yesterday, amid regulatory inquiries into his role in the market-timing scandal at Prudential Securities, which merged withWachovia in July. Michael J. Rice, 37, well known on Wall Street for running […]

POLITICAL MAKEUP: MAYOR: Democrat COUNCIL: Six Republicans AT STAKE: Four-year mayoral term and two three-year council terms. THE CANDIDATES: MAYOR/REPUBLICAN Kenneth Gabbert, of Parker Place, business administrator, councilman since 1995, chairman of the Upper Saddle River Centennial Committee, member of […]

HSBC yesterday spent $1.3bn (pounds 800m) buying Bank of Bermuda in a deal that boosts its presence in offshore banking for wealthy individuals. Continuing this week’s flurry of takeovers and mergers, HSBC will pay for the Bermuda bank in cash […]

NEW YORK (AP) – A former executive of Lipper Holdings was indicted Wednesday on charges he caused the values of two hedge funds to be overstated by hundreds of millions of dollars. Investors were told their money in Lipper was […]

Buying FleetBoston Financial might fill out Bank of America’s branch network across the United States, but it would not fulfill the banking company’s Wall Street dreams. Although the expanded Bank ofAmerica would be almost three times as big as Citigroup […]

For investors disenchanted with the equities market, and for money managers with bold ambitions, hedge funds are the current fashion. Hedge funds allow money managers the freedom to take both longand short positions in all kinds of securities. They can […]

Investors sometimes like a product so much that they buy shares in the company that makes it. Does the same logic work for mutual fund management companies? Good fund performance is key to a goodshare price for a fund management […]

Several years ago, when the climate grew chilly for wealthy investors and their advisers alike, competition heated up in the traditionally cozy world of catering to the financial needs of the veryrich. The giants of wealth management units of the […]