Author Archives: the HedgeCo News Team

The government is conducting a broad sweep of the mutual fund industry and more charges are likely in the growing scandal in the $7 trillion business, a top enforcement official said Tuesday. Stephen Cutler, head of the Securities and Exchange […]

Nov. 5–The US Securities and Exchange Commission is expected to name one of its top lawyers, Peter H. Bresnan, as interim district administrator of its troubled Boston office, according to severalsecurities lawyers whose work brings them in contact with the […]

Nov. 5–Many of the nation’s 95 million mutual fund investors are both confused and outraged to learn that the some of the funds were cheating them. A few fund shareholders have withdrawn their money; others are thinking about it; and […]

The growing mutual fund scandal hit Prudential Securities Inc. Tuesday as five former brokers and two former Boston branch managers were accused by regulators of improper trading, some of itallegedly hidden behind dummy names and numbers. The regulators painted a […]

Since being repriced at $99.99 just over a month ago, Nintendo’s GameCube video-game console has more than quadrupled its U.S. sales rate and has taken 18 points of market share from its twocompetitors, the company said. It had been selling […]

The pension plan for tens of thousands of Colorado retirees is dropping the Janus Fund, citing allegations the Denver-based firm allowed improper trading. The Colorado Public Employees Retirement Association board has voted to remove Janus’ flagship fund from the 401(k) […]

WASHINGTON (AP) — More firms are likely to be charged in the burgeoning scandal surrounding the mutual fund industry, the head of the Securities and Exchange Commission’s enforcement division toldCongress Tuesday. Stephen Cutler, testifying about the wide-ranging investigations into the […]

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 […]

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 […]

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 […]

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 […]