Genworth Financial is beefing up its asset management business: the company is buying AssetMark Investment Services, with $8 billion under management, to complement its Genworth Financial Asset Management (GFAM) arm. The acquisition will triple Genworth's fee-based assets under management. Genworth has agreed to pay $230 million, plus up to $110 million in performance-based incentives over five years…
The SEC is releasing added guidance on soft dollar rules that excludes "mass-market publications" and computer equipment; those are not eligible under Section 28(e) guidelines. (The release is at www.sec.gov/news/press/2006/2006-116.htm)…
Thanks to a request by the National Association of Independent Broker/Dealers, the NASD has agreed to put its NASD B Share Expense calculator directly on broker/dealers' Web sites, so representatives can make A and B share calculations without having to jump to the NASD's site and back to their own again. (For details, please go to www.naibd.com/index.htm#)…
