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SEC Proposes New Family Office Definition Under Dodd-Frank Act

October 12, 2010-- The Securities and Exchange Commission today proposed a new rule, based on requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, that would help those managing their own family's financial portfolios determine whether their "family offices" can continue to be excluded from the Investment Advisers Act of 1940.

Family offices are entities established by wealthy families to manage their money and provide tax and estate planning and similar services.

Historically, family offices have not been required to register with the SEC under the Advisers Act because of an exemption provided to investment advisers with fewer than 15 clients. The Dodd-Frank Act removes that exemption to enable the SEC to regulate hedge fund and other private fund advisers, but includes a new provision requiring the SEC to define family offices in order to exempt them from regulation under the Advisers Act.

The Commission is proposing to define a family office as any firm that:

Provides investment advice only to family members, as defined by the rule; certain key employees; charities and trusts established by family members; and entities wholly owned and controlled by family members. Is wholly owned and controlled by family members.

Does not hold itself out to the public as an investment adviser. Public comments on the proposed rule should be received by the Commission by Nov. 18, 2010.

view propsed rule

Source: SEC.gov


Credit Suisse, Goldman Sachs, J.P. Morgan, MF Global, Morgan Stanley and Newedge Join Green Exchange as Clearing Members

October 11, 2010--Green Exchange ("GreenX") today announced the addition of six new Clearing Member firms who will provide clearing services for the Exchange’s international customer base. Credit Suisse Securities (USA) LLC, Goldman Sachs & Company, J.P. Morgan Futures Inc., MF Global Inc., Morgan Stanley & Co., Inc. and Newedge USA LLC were approved by CME Clearing and join GreenX's first clearing member, BNP Paribas Commodity Futures Inc., as approved GreenX Clearing Members to date.

Clearing Members assume full financial and performance responsibility for all transactions guaranteed by and executed through them on GreenX.

Commenting on the approval of the additional clearing members, Tom Lewis, Chief Executive of GreenX, said: "The approval of Credit Suisse, Goldman Sachs, J.P. Morgan, MF Global, Morgan Stanley and Newedge as Clearing Members of the GreenX is a significant milestone for us. These firms offer clearing services to some of the largest traders in environmental commodities and their admittance will allow their customers access to our markets. We are confident that they will bring with them a breadth of experience and expertise in risk management to our marketplace."

These memberships will take effect upon the migration of the environmental products from the NYMEX Designated Contract Market (DCM) to the GreenX DCM on January 24th, 2011. Until then, the GreenX product suite will continue to be listed for trading on NYMEX and cleared through CME Clearing. All CME/CBOT/NYMEX/COMEX Clearing Members are eligible to become GreenX Clearing Members.

Source: SFO


FIA Calls for Joint Industry-CFTC Cooperation to Develop Ownership and Control Reporting System

October 11, 2010-- The futures industry is working on an ownership and control reporting system that will serve as a practical and cost-effective alternative to the OCR system proposed by the Commodity Futures Trading Commission, the Futures Industry Association said in comments submitted to the agency on Oct. 7.

“We recognize and support the CFTC’s need to develop a more robust trade practice and market surveillance program,” said FIA President John Damgard. “The FIA OCR Working Group has devoted considerable time to developing an industry solution that we hope will meet the Commission’s goal, but CFTC feedback is critical to the progress of the initiative.”

The FIA working group, comprised of 16 firms and all the U.S. exchanges, is actively involved in designing an industry-wide reporting solution that is expected to be submitted to the CFTC by the end of this month. The industry solution is designed to use data currently available in existing systems. It is also designed to be less costly and less time-consuming to implement, and have less impact on small entities.

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Source: FIA


US stocks higher on hopes of monetary intervention

October 8, 2010--US stocks advanced, with the Dow rising above the key 11,000 mark for the first time since May, after weak jobs data raised investors’ hopes that the Federal Reserve could embark on further quantitative easing.

The S&P 500 closed up 0.6 per cent to 1,165.15 on Friday, higher by 1.8 per cent over the week.

The Dow Jones Industrial Average had gained 0.5 per cent to close at 11,006.48, up 1.9 per cent over the five days. The Dow has not closed above 11,000 since May 3.

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Source: FT.com


Investors wait for official word on easing

October 8, 2010--Dollar selling intensified this week as economic data from the US continued to support the case for a further round of quantitative easing by the Federal Reserve.

The dollar has found scant support since the US central bank’s monetary policy meeting in September when Ben Bernanke, chairman, said in a statement after the meeting that the Fed would act “appropriately” should economic conditions worsen.

Investors have taken this to mean that another round of quantitative easing is on the way, probably at the Fed’s November meeting, and have been dollar bears ever since.

read more

Source: FT.com


Invesco PowerShares Announces Changes to ETF Family

October 8, 2010-- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs) with more than $50 billion in franchise assets, announced changes to its PowerShares family, one of the broadest in the marketplace today. In a continuing effort to proactively address the growing needs of investors in ETFs and to position its business for future growth opportunities, Invesco PowerShares announced that it plans to close 10 of its ETFs. The affected funds represent less than 1% of Invesco PowerShares’ total assets.

“We regularly review portfolios carefully evaluating numerous factors such as investment results, length of time in the market, investor interest, and the potential for future growth," said Ben Fulton, Invesco PowerShares managing director of global ETFs. “Based on this assessment, we believe that it’s in the best interest of our investors that we refocus our resources on areas that we believe are of greater client interest. As a pioneer and one of the leading innovators in the ETF industry, Invesco PowerShares continues to be fully committed to maintaining and developing a comprehensive product line. We have actively introduced several innovative ETFs to the market in the past year and we anticipate introducing new products in the months ahead.”

At an Oct. 5, 2010 meeting, the PowerShares Funds Board of Trustees approved the closings. The final day of trading on The NASDAQ Stock Market LLC (“NASDAQ”) and NYSE Arca, Inc. (“NYSE Arca”) will be Dec. 14, 2010.

Shareholders may sell their holdings on or before Dec. 14, 2010, and may incur typical transaction fees from their broker-dealer. Shareholders who do not sell their holdings on or before Dec. 14, 2010, will receive cash equal to the amount of the net asset value of their shares, which will include any capital gains and dividends, in the cash portion of their brokerage accounts on the liquidation date (currently scheduled for Dec. 21, 2010). Shareholders will generally recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares.

The affected ETFs are listed below:

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Name 
Ticker Symbol
PowerShares Dynamic Healthcare Services Portfolio PTJ
PowerShares Dynamic Telecommunications & Wireless Portfolio PTE
PowerShares FTSE NASDAQ Small Cap Portfolio PQSC
PowerShares FTSE RAFI Europe Portfolio PEF
PowerShares FTSE RAFI Japan Portfolio PJO
PowerShares Global Biotech Portfolio  PBTQ
PowerShares Global Progressive Transportation Portfolio  PTRP
PowerShares NASDAQ-100 BuyWrite Portfolio  PQBW
PowerShares NXQ Portfolio    PNXQ
PowerShares Zacks Small Cap Portfolio PZJ

For additional information, shareholders of the ETFs which are scheduled for liquidation may call Invesco PowerShares at 800-983-0903.

Invesco PowerShares Capital Management LLC is leading the Intelligent ETF Revolution® through its family of more than 148 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets over $50 billion as of Sept. 30, 2010, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at www.invescopowershares.com.

Source: Invesco PowerShares Capital Management LLC


Unit of Springs firm launches exchange traded fund

October 8, 2010--A unit of Colorado Springs money management firm Huntley Thatcher Ellsworth Ltd. has launched a publicly traded investment fund that allows small investors to use the primary investment strategy used by most hedge funds.

Mars Hills Partners LLC, formed in January by Huntley Thatcher to manage exchange traded funds it plans to launch, has grown its first such fund, the Global Relative Value fund, from $2.5 million when it began trading July 9 to $44 million this week, said David Houle, a partner in both Huntley Thatcher and Mars Hill.

Exchange traded funds are similar to mutual funds but trade like stocks and in many cases are designed to track a stock market index.

The Global Relative Value fund invests in 30 to 50 other exchange traded funds using a strategy that balances buying shares in funds it believes represent the best value and taking a short position in funds it believes represent the worst value, Houle said.

read more Read more: http://www.gazette.com/articles/funds-106042-traded-fund.html#ixzz11qSK01ba

Source: gazette.com


Latin America's Growth Expected to Reach 5-6 Percent in 2010

October 8, 2010-- Latin America’s new face following the global financial crisis is tough and almost impervious to shocks but also soft and kind to the most vulnerable.

A World Bank report argues that the region’s economic demeanor is resilient, globalized, and dynamic as it zips towards 5-6 percent growth for 2010 and shows that its investments in social protection managed to shield the most vulnerable from the worst effects of the downturn.

Presented as part of the World Bank Annual Meetings, Latin America’s semiannual economic report also reveals that the region’s recovery is ahead of the rich nation’s and compares well with the Asian Tigers’ expected growth of over 7 percent. All in all, the crisis in Latin America & Caribbean (LAC) was short lived, as compared to other parts of the globe, thanks in part to solid macroeconomic and fiscal frameworks set in place well before the crisis struck.

Individually, Brazil, Peru and Argentina lead the pack with 7.5 percent projected growth while Uruguay and Paraguay are expected to largely surpass the regional average. Chile, Colombia, Dominican Republic, Mexico and Panama, in the meantime, will likely post a robust 4-5 percent growth, according to ‘Resilient, globalized, dynamic: The new face of Latin America’.

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view the report-Resilient, globalized, dynamic: The new face of Latin America’

Source: World Bank


Treasury Announces State-By-State Funding Allocations

State Small Business Credit Initiative Critical Component of Small Business Jobs Act President Obama Signed into Law This Week;
All 50 States, DC, and the U.S. Territories Now Eligible for Funds to Help Local Entrepreneurs Expand Their Businesses and Put More Americans Back to Work;
October 8, 2010--Today, the U.S. Department of the Treasury announced individual State Small Business Credit Initiative (SSBCI) funding allocations for all 50 states, the District of Columbia, and the U.S. territories, which will support $15 billion in new small business lending through innovative local programs that help entrepreneurs expand their businesses and create new jobs.

These SSBCI funds are a critical component of the Small Business Jobs Act President Obama signed into law last week to help unlock credit and provide targeted tax cuts for small businesses. (A full listing of the state-by-state allocations announced today is included below.)

read more

view full lsiting

Source: U.S. Department of the Treasury


CFTC Commitments of Traders Reports Update

October 8, 2010--The CFTC.gov Commitments of Traders Reports has been updated for the week of October 5, 2010 and are now available.

view updates

Source: CFTC.gov


SEC Filings


September 09, 2025 Man ETF Series Trust files with the SEC-Man Active High Yield ETF and Man Active Income ETF
September 09, 2025 Tema ETF Trust files with the SEC-Tema International Durable Quality ETF
September 09, 2025 AIM ETF Products Trust files with the SEC-AllianzIM U.S. Equity Buffer5 ETF
September 09, 2025 AIM ETF Products Trust files with the SEC-AllianzIM Growth-100 Buffer5 ETF and AllianzIM Growth-100 Buffer15 ETF
September 09, 2025 AIM ETF Products Trust files with the SEC-AllianzIM International Equity Buffer5 ETF and AllianzIM International Equity Buffer15 ETF

view SEC filings for the Past 7 Days


Europe ETF News


September 04, 2025 Global X Launches Two High Dividend ETFs, Tracking Solactive European and United Kingdom SuperDividend Indices
September 03, 2025 The T+1 Thursday conundrum pushing instantaneous settlement on traders
September 01, 2025 ETF and ETP Listings on September 1, 2025, new on Xetra and Borse Frankfurt
August 29, 2025 21Shares Launches First ETP Tracking Hyperliquid, the Market Leader in Decentralized Perpetuals
August 27, 2025 ETF and ETP Listings on August 27, 2025, new on Xetra and Borse Frankfurt

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Asia ETF News


September 08, 2025 Samsung Securities Launches Two ETNs Tracking Solactive China Mobility Top 5 Hedged to KRW Index and AI Tech Top 5 Hedged to KRW Index in First Collaboration with Solactive
September 03, 2025 SGX Securities Welcomes The Listing Of SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF
September 03, 2025 BTIG Begins Offering Access To Tokyo Stock Exchange's CONNEQTOR Platform
September 03, 2025 Exclusive: US trading firm Jane Street files appeal against India markets regulator
September 02, 2025 Hana Asset Management Launches 1Q Xiaomi Value-Chain Active ETF Tracking the Solactive-KEDI Xiaomi Focus China Tech Index

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Global ETP News


September 04, 2025 Infographic-G20 Inflation Tracker: July
September 03, 2025 Ondo Brings Over 100 Tokenized U.S. Stocks and ETFs Onchain, Starting on Ethereum
August 27, 2025 FBS Analysis Highlights How Political Shifts Are Redefining the Next Altcoin Rally

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Middle East ETP News


September 02, 2025 Indxx US Infrastructure Index Licensed by KSM Mutual Funds Ltd. for an Index Tracking Fund
September 01, 2025 Lunate Launches Boreas Solactive Quantum Computing UCITS ETF, the First Thematic ETF to List on ADX, Tracking the Solactive Developed Quantum Computing Index
August 20, 2025 Mideast Stocks: Gulf bourses trade lower ahead of key Fed speech
August 14, 2025 Saudi, UAE drive GCC assets under management growth to $2.2trln
August 12, 2025 Exchanges get religion in pursuit of Muslim cryptobros

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Africa ETF News


August 24, 2025 Africa: Nigeria Leads Africa in Stablecoin Adoption With $22bn in Transactions

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ESG and Of Interest News


August 28, 2025 Collapse of critical Atlantic current is no longer low-likelihood, study finds
August 06, 2025 Why investing in Southern Africa's critical minerals is key for the global energy transition
August 04, 2025 World Cannot Recycle Its Way Out of Plastics Crisis, Report Warns
August 02, 2025 The Brain Economy: The New New Thing

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White Papers


September 08, 2025 Economic development, carbon emissions and climate policies

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