A Northbrook, Ill.-based insurer sued Goldman Sachs and its affiliates for allegedly selling the insurer more than $123 million in securities backed by poor-quality mortgages between 2006 and 2007.

The Jackson National Life Insurance Co. set a company record for monthly variable annuity sales in March, logging more than $1.3 billion.

A government watchdog group has sent a letter to congressional committees in charge of financial oversight asking them to challenge the government’s reliance on financial self-regulatory organizations like the Financial Industry Regulatory Authority (FINRA).

Fidelity Investment lost its top-dog status as the number one distributor and mutual fund provider to rivals Charles Schwab and Vanguard, according to a new report.

A House committee has scheduled a hearing to examine the Federal Reserve Bank of New York’s possible role in prohibiting public disclosure of some of the details of the taxpayer bailout of American International Group.

Merrill Lynch agreed to pay about $425,000 to Virginia to settle allegations that some of its administrative and sales support staff involved in securities transactions in the state were not registered under the Virginia Securities Act.