July 3, 1997 |
The Securities and Exchange Commission staff is likely to propose a rule requiring investment advisors to disclose far more detail about potential conflicts of interest, an SEC official said Wednesday. "The current disclosure form is old and tired and could be improved dramatically," said Barry Barbash, the SEC's investment management director. The SEC proposal would change the "ADV" form distributed to investors and filed with the SEC by 23,000 advisor and financial planning firms.
August 19, 1992 |
Individuals who are saving for retirement or a child's college education face one nagging question: How much money will they need? One financial adviser may say that a middle-income family will need to set aside at least $1 million to maintain its standard of living through retirement. Another may put the number at half that amount.
August 5, 1992 |
Investment advisers in the state of California face tough new rules governing the "fair, equitable and ethical" treatment of their investors. The regulations took effect June 11, but many financial planners and other independent money managers say they aren't aware of them. They'd better get aware, though: In its effort to protect individuals from investment fraud and abuse, the state has gotten very specific about what advisers must say and do where clients are concerned.
November 11, 1993 |
Imagine a restaurant chain spending big money to warn you of the health hazards posed by the high-fat dishes it serves. Or a car manufacturer publishing information in grisly detail on the dangers of a highway crash. Or a bank going out of its way to alert you to the debt perils posed by its credit cards. Unlikely as such visions may be, something very much like that is taking place these days in the booming mutual-fund business.
August 23, 1989 |
The investment firm Drexel Burnham Lambert Inc. warned its employees this week to avoid business contact with Michael Milken, the financier who turned Drexel into one of the most profitable firms on Wall Street. As part of its settlement of sweeping fraud charges with the Securities and Exchange Commission earlier this year, Drexel agreed to dismiss Michael Milken and his brother, Lowell, and to sever business relationships with them.