Fidelity Investments, the second- largest mutual fund company, is exploring the creation of a U.S. stock trading venue along with other investors to address perceived flaws in the $23 trillion U.S. equity market.
JPMorgan Chase & Co., the largest U.S. lender, agreed to sell its large-market 401(k) recordkeeping business to a division of Canadian life insurer Great-West Lifeco Inc. Terms of the transaction weren’t disclosed.
Securities regulators are considering a change in how they exempt retail investors from proposed restrictions on money-market mutual funds after fund companies complained the original plan was too onerous, according to three people familiar with the matter.
Pacific Investment Management Co., the envy of the bond world when it tripled assets following the financial crisis, is finding itself in an unusual role: Playing catch up to competitors in the growing market for exchange- traded funds.
U.S. mutual fund companies are pushing back against claims that some firms may be too big to fail, saying that subjecting a few large money managers to more regulation would hurt competition and ultimately fund investors.