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SEC Enforcement Division Issues Report on FY 2018 Results
November 2, 2018--The Securities and Exchange Commission's Enforcement Division today issued the annual report of its ongoing efforts to protect investors and market integrity. The report also highlights several significant actions and initiatives that took place in FY 2018.
The report presents the activities of the Division from both a qualitative and quantitative perspective.
"As this report demonstrates, the Division's approach to enforcement is multifaceted and outcomes-oriented with the interests of our Main Street investors front of mind," said SEC Chairman Jay Clayton.
view the SEC Enforcement Division Annual Report-FY18
Source: SEC.gov
CFTC's Office of the Chief Economist Issues Report on Initial Margin Phase 5
October 31, 2018--The Office of the Chief Economist (OCE) of the Commodity Futures Trading Commission (CFTC) today issued, "Initial Margin Phase 5,," a report about uncleared margin rules, which goes into effect on September 1, 2020.
On that date, swaps market participants with between $8 and $750 billion of swaps notional amount must begin to post and collect initial margin on all trades that have at least one swap-dealer counterparty. The market is currently in Phase 3, in which counterparties with $1.5 trillion or more of swaps notional amount are subject to the rules. The OCE paper released today was written to assist regulators in responding to requests for relief from industry participants.
view the OCE Report: Initial Margin Phase 5
Source: CFTC.gov
SEC Issues Statement on Certain Provisions of Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
October 31, 2018--The Securities and Exchange Commission today announced that it has voted to issue a statement setting forth the Commission's position, for a limited time period, that certain actions with respect to specific provisions of its Business Conduct Standards for Security-Based Swap (SBS) Dealers and Major Security-Based Swap Participants will not provide a basis for a Commission enforcement action.
The statement also addresses the Commission's position on the ability of parties to security-based swaps to rely on written representations previously provided in relation to swaps, also for a limited time period.
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Source: SEC.gov
Crypto exchange Coinbase valued at $8bn after funding round
October 30, 2018--Latest round comes despite sharp falls this year in many coins.
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Source: FT.com
U.S. Weekly FundFlows Insight Report: Equity ETFs Take in Net New Money Despite a Market Meltdown During the Week
October 25, 2018--For the second week in three investors were net purchasers of fund assets (including those of conventional funds and ETFs), injecting $5.6 billion for Lipper's fund-flows week ended October 24, 2018.
Fund investors were net purchasers of equity funds (+$4.2 billion) and money market funds (+$6.4 billion) while being net redeemer of taxable fixed income funds (-$4.5 billion) and municipal bond funds (-$495 million).
Market Wrap-Up
The triple hangover of trade uncertainties, Federal Reserve rate hikes on the horizon, and slowing global growth weighed on investor psyche during the fund-flows week. Despite a strong beginning to the Q3 earnings season and continued good news on the U.S. economic front, considerations about Italy's budget crisis, Saudi Arabia's complicity in a dissident journalist's death, ongoing U.S./China trade disputes, and the upcoming midterm elections caused investors to flee equities.
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Source: Thomson Reuters
Distillate Capital Launches DSTL, Fundamental Stability & Value ETF
October 24, 2018--Rationally-defined value and quality metrics utilize proprietary normalized cash yield
methodologies
Distillate Capital, a Chicago-based asset manager
focused on fundamental equity analysis, today announced the launch of its first ETF.
The Distillate U.S. Fundamental Stability & Value ETF (NYSE:DSTL) seeks to distill a
starting universe of the roughly 500 largest U.S. companies by market cap into only the
stocks where quality and value overlap.
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Source: Distillate Capital
BlackRock Takes Sustainable Investing Mainstream with Range of Low-Cost Sustainable Core ETFs
October 23, 2018--Three Launches: New iShares Sustainable Core ETFs, new portfolio analytics, transparent ESG data
BlackRock projects global ESG ETF assets will rise to $400 Billion by 2028
iShares, a pioneer in simplifying investment portfolios for investors, introduces the iShares Sustainable Core-a line-up of sustainable ETFs that bundle the ability to focus on purpose and performance-for the core of investor portfolios.
To simplify sustainable investment's, BlackRock (NYSE:BLK) also unveiled transparent ESG data disclosures, new ESG portfolio analytic tools, and increased accessibility with ESG focused model portfolios.
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Source: BlackRock
Winthrop Capital Management-Economic & Capital Market Outlook Fourth Quarter, 2018
October 23, 2018--If you have been invested in the U.S. equity markets over the past five years, you have experienced a solid return and resurgence in the market value of your investment portfolio. In its basic form, a capital market, is simply a mechanism for pricing risk. Over the past five years, we have seen increases in prices on publicly traded risk assets, such as stocks and high yield bonds.
However, markets are not necessarily efficient at pricing risk all of the time. Equity investors have been richly rewarded over the past five years in spite of growing global risks. However, this period of rising equity prices and low levels of volatility is about to be tested as the global economy transitions and capital markets adjust to higher interest rates. The risk premium, which investor's demand on risk assets, needs to adjust higher.
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Source: Winthrop Capital Management
AdvisorShares Active ETF Market Share Update-Week Ending 10/19/2018
October 23, 2018--Actively managed ETFs gained $615 million despite the recent market decline, which brought the total net assets to $66.4 billion.
JP Morgan and iShares led weekly AUM growth among sponsors with $360 million and $102 million gains, respectively. Two fund launches occurred last week and brought the total number of actively managed ETFs to 240.
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Source: AdvisorShares
BlackRock stakes claim on 'sustainable investing' revolution
October 22, 2018--Larry Fink estimates such ETF assets will grow from $25bn to over $400bn in a decade
BlackRock stakes claim on 'sustainable investing' revolution. BlackRock intends to become a global leader in "sustainable investing", says Larry Fink, as the world's largest asset manager launched a range of exchange traded funds in the US and Europe that incorporate environmental, social and governance criteria.
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Source: FT.com