Fidelity Investments and The Vanguard Group Offer Retirees Managed-Payout Funds
Fidelity Investments has launched 11 funds focused on generating steady income for retired seniors. The launch followed a similar launch by The Vanguard Group Inc., who will launch three similar funds...
View ArticleFidelity To Pay $8 Million Fine To Settle SEC Charges Regarding Traders’...
Fidelity Investments has agreed to pay an $8 million fine to settle Securities and Exchange Commission charges that the company failed to properly supervise its stock traders that had improperly...
View ArticleFormer Fidelity Brokerage Reps Says They Were Pressured to Make Sales That...
A number of Fidelity Brokerage Services LLC representatives who left the company last year say that they were obligated to acquire certified financial planner certification but were also barred from...
View ArticleJPMorgan, Goldman Sachs, Bank of New York Mellon, Charles Schwab Disclose...
While regulators continue pondering whether to impose more regulations on money market mutual funds, a number of financial institutions, including Goldman Sachs Group Inc. (GS), JPMorgan Chase &...
View ArticleFidelity Investments Settles Class Action Lawsuits Over 401(K) Plan for $12...
Fidelity Investments has consented to pay $12 million to settle two class action employee lawsuits. The plaintiffs contend that the retirement plan provider was self-dealing in the FMR LLC Profit...
View ArticleFINRA Fines Fidelity $350K for Overcharging More than 20,000 Clients $2.4M
The Financial Industry Regulatory Authority says that Fidelity Investments must pay $350,000 for overcharging thousands of clients $2.4 million for transactions involving fee-based accounts in its...
View ArticleMassachusetts Regulator Says Fidelity Let Unregistered Advisers Trade on Its...
Commonwealth William Galvin has filed an administrative complaint against Fidelity Brokerage Services. The firm is accused of letting at least 13 unregistered investment advisers trade on its...
View ArticleFidelity Must Pay $1M Penalty For Failing to Detect Elder Financial Fraud
The Financial Industry Regulatory Authority (FINRA) has imposed an over $1 million penalty on Fidelity Investment’s Fidelity Brokerage Services (Fidelity) for failing to protect clients from a...
View ArticleRetirement Accounts : Ameriprise Settles SEC Allegations That It Overcharged...
The US Securities and Exchange Commission has filed civil charges against Ameriprise Financial Services (AMP). The regulator is accusing the brokerage firm and investment adviser of recommending to...
View ArticleFidelity is Sued Over Alleged Retirement Plan Mismanagement Again
Nearly years after settling two 401K lawsuits for $12 million, participants in Fidelity Investments’ retirement plan are once more suing the firm. The plaintiffs allege that self-dealing cost them...
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