Kent Lawayne Edlin was indicted on eight counts of securities fraud by a grand jury on May 4, 2023. Edlin…
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—The Bank of England is set to raise interest rates later Thursday to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K.. Other major central banks, such as the U.S. Federal Reserve and the European Central Bank, have also been raising interest rates at a consistent pace in order to get inflation rates down from…
Many analysts don't think the economy will get weak enough to force the Federal Reserve to cut interest rates this year. But market guru Jeremy Siegel anticipates several months of job losses later this year. If the Fed doesn't answer with rate reductions, the stock market's rally may be done for the year, the Wharton School finance professor told CNBC.
When an emergency occurs and you need cash, that lump of money sitting in your retirement account suddenly looks very tempting. Secondly, even if you fall into one of the exceptions that waives the 10% early withdrawal penalty, you'll need proof for the IRS. For example, if you are withdrawing $7,000 for medical expenses, you'll need to have receipts for $7,000 in…
Apollo expects to pull wealthy investors into alternatives with new annuity, investment vehicle
Apollo Global Management has high hopes for two new products that it expects will interest high-net-worth investors in alternative investments.
Retirement is about YOU— your values, your priorities and your dreams for the future. Is there a "right" time to retire? If you begin collecting Social Security benefits as soon as you are eligible, your benefits may be 25% to 30% less than they would be if you wait until age 66 or 67.
Retirement can be a time of great joy and relaxation, but it can also be a time of stress and anxiety. Transitioning from working life to retirement can be challenging, and the loss of routine, identity and social connections can be difficult to navigate. Moreover, retirement can bring new financial and health-related concerns, adding to many retirees' stress.
The U.S. Federal Reserve has once again hiked interest that it charges banks in the wake of continued elevated inflation— which peaked at 9.1 percent in June 2022— in a bid to calm what has been a lingering problem for the overheating economy, which slowed down to 1.1 percent annualized growth in the first quarter. Usually, the central bank eventually gets its own…
Research found that while 46% of financial advisers say they are comfortable with their current growth rate, a mere 12% strongly agree with that sentiment.
Allianz Investment Management launched two new Buffered Exchange Traded Funds.
The key to financial freedom? Open conversations, survey finds
It’s time we had the money talk, say 66% of Americans, who say conversations about money are the key to financial freedom. But taboos remain.
May 6— NAUGATUCK— A federal grand jury has indicted a former Naugatuck man with fraud and money laundering offenses for running an investment scam that defrauded at least dozen people out of more than $550,000. Rafael Muzzi, 27, of Brazil, has been charged with 12 counts of wire fraud and two counts of money laundering in connection with the scheme, according to the…
U.S. officials said they were monitoring the banking sector for signs of fraud back in March. The source also pointed out that the U.S. Securities and Exchange Commission warned in March that it was carefully watching market stability and would prosecute any form of misconduct during the collapse of Silicon Valley Bank and Signature Bank– two regional banks…
May 4— The Adna School District was defrauded of $346,000 through what school officials have called a "sophisticated phishing scam," according to Adna Superintendent Thad Nelson. The district announced the fraud in a detailed email to The Chronicle on Thursday, noting that after the activity was confirmed, the district notified the FBI, the Washington state…
This week, a similar ESG debate is playing out in North Carolina. On Tuesday, the Senate Pensions and Retirement and Aging Committee approved Senate Bill 737, which lists the criteria the state treasurer is allowed to consider when investing North Carolina’ s pension fund. On Wednesday, the House Committee on State Government was scheduled to address House Bill…
A trial date has been set for a Howell County couple who have each been charged with a Class A felony of financial exploitation of an elderly person and a Class C felony of stealing at least $25,000 after an investigation conducted by the Missouri Department of Health and Senior Services. It is alleged Jeffrey Proffitt, 64, and Juanita Proffitt, 54, both of…
Tips for financial advisors: What it takes to be a winner
We asked two award-winning advisors to share their tips for financial advisors who want to join the ranks of the winners.
Legislation introduced this week would establish parity for 403(b) retirement plans serving teachers, hospital workers, clergy, and non-profit employees.
Four U.S. regional banks failed in March and April. Four U.S. regional banks fell in two months, victims of bank runs by their customers, who were worried about losing their funds. But two days later, on March 10, the most serious banking crisis since the financial crisis of 2008 began, when the Federal Deposit Insurance Corp., the Federal Reserve and the U.S. Treasury…
On May 2, 2023, the Securities and Exchange Commission charged Brett M. Bartlett, his father-in-law Scott A. Miller, and their companies for fraudulent securities offerings that raised at least $20.5 million, some of which Bartlett and Miller misused for personal expenses. According to the SEC's complaint, from at least June 2018 to May 2020, Bartlett and Miller…
