Municipal Bond Tax
Municipal Bond Tax Compensation. If you own municipal bonds directly or through a mutual fund, and you have paid income tax on the interest income, you may be entitled to compensation. The state of Kentucky’s two highest courts, have declared that state’s policy of taxing out-of-state municipal bond interest … [Read more...]
SEC To Propose New Mutual-Fund Disclosure Rules
SEC New Mutual-Fund Disclosure Rules. The Securities and Exchange Commission (SEC) is investigating eight brokerage firms and 12 mutual-fund companies for failing to disclose sales incentives that may have influenced advice to investors, an SEC official said. SEC enforcement chief Stephen Cutler revealed the probes after … [Read more...]
Firm Is Ordered To Close
A Mutual Fund Firm Is Being Investigated. Federal regulators yesterday carried out their first act of capital punishment as part of the widening mutual fund investigation, ordering the Security Trust Co. out of business. The tough action came as New York Attorney General Eliot Spitzer filed felony charges against three former … [Read more...]
Mutual Fund Scandal Has Investors Bailing Out
Mutual Fund Scandal Are Prompting Disgusted Investors. Snowballing scandals in the $7 trillion mutual fund industry are prompting disgusted investors to dump funds. While defections haven’t made much of a dent in overall fund holdings, investors are transferring millions of dollars in assets to fund firms that haven’t … [Read more...]
2 More Fired In Mutual Fund Scandal
Alliance Capital Mutual Fund Scandal. Heads keep rolling off the chopping block in the mutual fund industry as Alliance Capital Management (AC) fired two top executives Monday. Alliance, which is under investigation by the Securities and Exchange Commission and New York Attorney General Eliot Spitzer, ousted President John Carifa … [Read more...]
