The Hartford (Conn.) Financial Services Group received approval from the Connecticut insurance commissioner to change accounting practices.
Putnam Investments tomorrow will lay off about 260 employees, roughly 10% of its work force, mostly from distribution and operations.
Congress has reached agreement on the nearly $800 billion economic stimulus package sought by President Obama. Senate Majority Leader Harry Reid , D-Nev., told reporters that House and Senate negotiators “bridged differences” between the two chambers’ versions of the bill and came up with a $789 billion package.
New York Attorney General Andrew Cuomo may subpoena more executives from Bank of America Corp. and Merrill Lynch & Co. Inc.
Providers will push forward with the development of the income guarantee paired with a unified managed account, and with other vehicles, despite hurdles.
The Retirement Income Industry Association gave a sneak peek into an initiative designed to encourage financial advisers to take a risk management approach.
Amegy Bank NA of Houston, and its broker-dealer affiliate, Amegy Investments Inc., have filed an arbitration claim against Merrill Lynch & Co. Inc. of New York.
Insurers are eager to continue developing products in the variable annuity arena — with the search for ways to reduce risk as a top priority.
