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Innovator Announces New Upside Caps for October Series of S&P 500 Buffer ETFs
September 30, 2019--ETFs provide exposure to the S&P 500 with downside buffer levels of 9%, 15%, or 30% over a one-year Outcome Period
Innovator's Defined Outcome ETFs are the subject of a patent application filed with the U.S. Patent and Trademark Office
Innovator Capital Management, LLC (Innovator) announced today the successful completion of the initial outcome period for the October Series of Innovator S&P 500 Buffer ETFsTM.
The October Series of S&P 500 Buffer ETFs resets on October 1, 2019, based on the current level for the S&P Price Return Index, with new upside caps and downside buffers for the next one-year outcome period, which concludes on September 30, 2020.
"The October Series of Innovator S&P 500 Buffer ETFs performed in line with the S&P 500 Price Return Index over their first one-year outcome period," said Bruce Bond, CEO of Innovator Capital Management. "Advisors developing portfolio strategies using the S&P 500 Buffer ETFs are delivering investors market returns with about half the volatility, and lower drawdowns along the way."
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Source: Innovator
U.S. taxpayers are at risk for homes threatened by climate change
September 30, 2019--September 30, 2019--Banks are selling mortgages on homes in coastal areas around the U.S. that are vulnerable to natural disasters to Fannie Mae and Freddie Mac, a study finds.
That could leave taxpayers footing the bill because the two government-sponsored enterprises buy the mortgages without adequately accounting for the heightened property risks.
"Climate change could lead to a 'Big Short' kind of crisis," one of the study's authors said.
The growing threat from natural disasters like hurricanes and floods could leave U.S. taxpayers footing the bill for damage to properties battered by rising seas. The reason: Mortgage lenders-mostly Wall Street banks-are selling loans for homes in vulnerable coastal areas to Fannie Mae and Freddie Mac, according to a working paperreleased Monday by the National Bureau of Economic Research.
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Source: cbsnews.com
SEC Adopts New Rule to Modernize Regulation of Exchange-Traded Funds
September 26, 2019--The Securities and Exchange Commission today announced that is has voted to adopt a new rule and form amendments that are designed to modernize the regulation of exchange-traded funds (ETFs), by establishing a clear and consistent framework for the vast majority of ETFs operating today. The adoption will facilitate greater competition and innovation in the ETF marketplace, leading to more choice for investors.
It also will allow ETFs to come to market more quickly without the time or expense of applying for individual exemptive relief. In addition, the Commission voted to issue an exemptive order that further harmonizes related relief for broker-dealers.
view the Final Rule
Source: SEC.gov
SEC Proposes Amendments to Enhance Retail Investor Protections
September 26, 2019--Actions Increase Availability of Issuer Information and Modernize the Rule Governing Quotations for Over-the-Counter Securities
The Securities and Exchange Commission today announced that it has voted to propose amendments to Exchange Act Rule 15c2-11, which sets out certain requirements with which a broker-dealer must comply before it can publish quotations for securities in the over-the-counter ("OTC") market.
The proposed amendments are designed to modernize the Rule, which was last substantively amended in 1991, and to enhance investor protection by requiring that current and publicly available issuer information is accessible to investors. The proposed amendments would provide greater transparency to the investing public by requiring that information about the issuer and the security be current and publicly available before a broker-dealer can begin quoting that security.
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Source: SEC.gov
SEC Adopts New Rule to Allow All Issuers to "Test-the-Waters"
September 26, 2019--The Securities and Exchange Commission today announced that it has voted to adopt a new rule that extends a "test-the-waters" accommodation-currently a tool available to emerging growth companies or "EGCs"-to all issuers.
Under the new rule, all issuers will be allowed to gauge market interest in a possible initial public offering or other registered securities offering through discussions with certain institutional investors prior to, or following, the filing of a registration statement.
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Source: SEC.gov
Nuveen Unveils High-Yield Bond ESG ETF
September 26, 2019-- Nuveen today introduced what it calls the first high-yield corporate bond exchange-traded fund with an environmental, social and governance (ESG) focus.
The Nuveen ESG High Yield Corporate Bond ETF (NUHY) starts with an investment universe found in the Bloomberg Barclays U.S. High Yield Very Liquid Index that captures the U.S. dollar-denominated, high-yield, fixed-rate corporate bond market. From there, MSCI and the responsible investing team at Nuveen choose securities conforming to ESG-focused criteria determined by MSCI ESG Research LLC. That criteria is measured on an industry-specific basis.
view more The Fed pumps another $105 billion into markets, continuing its streak of capital injections view more IEX Exchange to Exit Listings Business view more
State Street Global Advisors Expands Low-Cost SPDR(R) Portfolio ETFTM Suite view more
The Securities and Exchange Commission (SEC) has delayed a scheduled decision on the so-called 'ETF rule,' which it was set to vote on today.
Source: citywireusa.com
September 24, 2019--The Federal Reserve on Tuesday sold $105 billion in market repurchase agreements, or repos, in a continued effort to calm money markets and bring interest rates within its intended range.
The bank offered $75 billion in repos expiring overnight and $30 billion in repos expiring in 14 days. Banks bid for more than was available of each repo, signaling strong demand for the government-backed asset.
Source: businessinsider.com
September 23, 2019--Upstart exchange's only listed company decided to jump ship
IEX Group Inc. will abandon its listings effort after the upstart exchange's only listed company decided to jump ship.
The move means that corporate listings will remain an effective duopoly of the New York Stock Exchange and Nasdaq Inc., despite a long effort to break into the business by IEX, whose founders were the heroes of Michael Lewis's 2014 book "Flash Boys: A Wall Street Revolt."
Source: Wall Street Journal
September 20, 2019--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the addition of seven rebranded SPDR ETFs to the SPDR Portfolio suite. Introduced in 2017 and attracting $34.4 billion in new assets in just two years,1 the SPDR Portfolio offering now comprises 22 low-cost ETFs that provide access to a wide range of domestic and international equity and fixed income asset classes.
The seven rebranded funds added to the SPDR Portfolio suite comprise five fixed income and two international equity ETFs, representing $4.4 billion in assets.2 All seven have new names and ticker symbols to align with the SPDR Portfolio ETF suite and three funds have reduced net expense ratios, as detailed below, and the other four were reduced earlier:3
Source: State Street Global Advisors
