A Boston law firm has filed a suit seeking class-action status against Fidelity Investments, claiming the company illegally skimmed tens of millions dollars from the retirement accounts of hourly workers at General Motors Corp. The suit, filed in U.S. District Court in Massachusetts, claims Fidelity improperly kept interest generated when account holders' cash is temporarily placed in interest-bearing accounts when deposited, withdrawn or transferred. Fidelity lost part of an earlier suit over this so-called float income in Missouri, which it is appealing.

Fidelity Investments Presents at 25th Annual Card Forum and Expo, Apr-09-2013 02:50 PM. Venue: Boca Raton Resort & Club, Boca Raton, Florida, United States. Speakers: Stefan Ross, Director, Credit and Debit Card Products.

Fidelity Investments and BlackRock, Inc. announced a long-term strategic alliance that provides extensive collaboration across Fidelity's distribution and asset management organizations with BlackRock and its ETF provider, iShares, to deliver significant value to investors across a range of ETF initiatives. This partnership will give millions of Fidelity customers increased and improved access to a broad selection of passive ETF solutions provided by iShares. As part of this unique manufacturing and distribution partnership with iShares, Fidelity will more than double its current successful online commission-free ETF offerings and will create new ETF portfolio strategies using iShares as components within its managed account offering (Portfolio Advisory Services). In addition, as part of Fidelity's growing sector-based business strategy, the company has established a strategic relationship with BlackRock whereby the firm will help support Fidelity's future passive sector investment management efforts. Both companies will support this strategic alliance with personnel focused on successfully delivering iShares ETFs to Fidelity customers through their respective retail and advisor networks. As part of this partnership, Fidelity will also expand its managed account offerings by making available to customers new ETF managed portfolios using iShares as components within Portfolio Advisory Services. The ETF managed portfolios will complement Fidelity's existing mutual fund and unified managed account offerings. Portfolio Advisory Services currently offers professional money management and access to proprietary research through model portfolios of mutual funds and personalized portfolios using mutual funds, ETFs, and separate accounts. Customer investments have increased in Fidelity managed accounts products by 73% in the past 3 years. Fidelity and BlackRock will jointly focus on providing innovative ETF-based solutions on an ongoing basis as part of this partnership. Fidelity has been a pioneer in sector investing for 30 years and currently has one of the lineups of actively managed sector funds with assets of more than $47 billion. While actively managed sector strategies will continue to be a core focus, Fidelity intends to deploy passive sector capabilities as part of its expanding sector-based strategy, and as part of those efforts, Fidelity will work with BlackRock. Fidelity will continue to develop its active and smart beta investment management capabilities and these efforts will complement the expanded ETF alliance with BlackRock and iShares, further reinforcing Fidelity's commitment to providing customers with the breadth and depth of investment products and services they need to meet their distinct financial goals.