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For Many Auction-Rate Investors, the Freeze Goes On

Wall Street Journal

Four years ago the market for auction-rate securities, an investment touted as safe and liquid, froze up. Four years later, despite various settlements and repayment efforts, many investors are still fighting for the return of their money. All told, about $100 billion from individual and institutional investors remains outstanding in the former $330 billion market, […]

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What you should know about your adviser

Reuters

In an ideally-transparent world, you’d know as much about your broker as you know about the ingredients in packaged junk food label: All of the bad stuff would be instantly on display. But in the U.S., some of the most important information about a broker is off limits to individual investors. At present, you can […]

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Pandit Fast Money With Hedge Funds Proving Citigroup Dead End

Business Week

Vikram Pandit knows one way to make big money in hedge funds: sell them. In July 2007, Pandit sold Old Lane Partners LP to Citigroup Inc. for $800 million and pocketed $165 million for his stake. Then he took over the bank’s in-house hedge-fund group, now called Citi Capital Advisors, or CCA. He became chief […]

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Dirt for investors to dig, if they can find it

Reuters

Ongoing efforts by regulators to give the public more details about financial advisers’ backgrounds still haven’t solved a key problem — getting more investors to use that information. The Financial Industry Regulatory Authority recently took a step toward resolving that issue. In a notice on Tuesday, FINRA invited suggestions from the public on possible improvements […]

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Morgan Keegan seeks to reverse sports agent ruling

Yahoo! Sport UK

Morgan Keegan & Co is hoping to recover money lost to a professional sports agent, who was awarded $400,000 in a securities arbitration ruling against the brokerage last week. The Memphis, Tennessee-based firm filed a court action in New York on Wednesday to overturn the ruling by a Financial Industry Regulatory Authority arbitration panel, which […]

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