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Financial Stability Oversight Council Releases Fifth Annual Report
Council Votes to Further Enhance Transparency and Governance
May 19, 29015--The Financial Stability Oversight Council (Council) today unanimously approved its 2015 annual report, which was developed collaboratively by the members of the Council and their agencies and staffs.
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Council reports annually to Congress on a range of issues, including significant financial market and regulatory developments, potential emerging threats to the financial stability of the United States, and the activities of the Council. The report also makes recommendations to promote market discipline; maintain investor confidence; and enhance the integrity, efficiency, competitiveness, and stability of U.S. financial markets.
view the 2015 FSOC Annual Report
Source: Financial Stability Oversight Council
New York Stock Exchange Launches Bitcoin Price Index
May 19, 2015--The New York Stock Exchange (NYSE) has today announced the launch of a bitcoin price index (NYXBT).
NYXBT will represent the daily US dollar value of one bitcoin at 4pm (BST) and will be published on the NYSE Global Index Feed (GIF).
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Source: coindesk.com
S&P Dow Jones Indices Licenses Several Indices to AccuShares
New ETFs Will Track Leading Spot Indices Including VIX(R)Index
May 19, 2015--S&P Dow Jones Indices ("S&P DJI"), one of the world's leading providers of financial market indices, announced today that is has licensed seven spot indices to AccuShares Investment Management, LLC ("AccuShares") for the launch of exchange traded funds based upon the indices.
The indices licensed to AccuShares include:
CBOE Volatility Index(R) (the VIX Index)
S&P GSCI(R)
S&P GSCI Crude Oil
S&P GSCI Brent Crude Oil
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Source: S&P Dow Jones Indices
SEC Said to Propose That Mutual Funds Disclose Risk of Rate Rise
May 19, 2015--The U.S. Securities and Exchange Commission is set to propose a requirement that mutual-fund companies report how vulnerable their bond portfolios are to interest-rate changes, two people familiar with the matter said.
The proposal, which the five-member commission is scheduled to vote on Wednesday, is among the agency's first moves to address regulators' concerns that many bond funds could face steep losses if the Federal Reserve's first interest-rate hike in almost seven years forces them to sell assets quickly.
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Source: Bloomberg
Clearing houses are big risk, top U.S. federal researcher says
May 19, 2015--Clearing houses, whose role to guard financial stability was much expanded after the 2007-09 crisis, now pose threats themselves, the head of the top U.S. financial research agency told Reuters on Friday.
The Office of Financial Research has looked at these firms, which are for instance run by CME Group Inc. (CME.O), Deutsche Boerse's (DB1Gn.DE) Eurex, and Intercontinental Exchange Inc (ICE.N), to see where risk is building up.
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Source: Reuters
Nasdaq Lists Two AccuShares Spot CBOE VIX ETFs
May 19, 2015--Nasdaq today announced that AccuShares Investment Management LLC (AccuShares) will list two new exchange-traded funds (ETFs), AccuShares Spot CBOE VIX ETF Up Class Shares (symbol:VXUP) and Down Class Shares (symbol:VXDN), which will begin trading on The Nasdaq Stock Market on Tuesday, May 19, 2015.
The funds will track the CBOE Volatility Index (VIX).
"We are delighted to partner with Nasdaq as we launch our first funds for the ETF market," said Jack Fonss, Chief Executive Officer and Co-Founder of AccuShares.
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Source: NASDAQ.com
Hill, Carney Introduce Bipartisan Bill to Increase Consumer Access to Investment Information
May 18, 2015--This week, the House Committee on Financial Services will meet to markup H.R. 2356, the Fair Access to Investment Research Act, a bill introduced last week by Congressman French Hill (AR-02) and Congressman John Carney (DE-At Large).
H.R. 2536 would direct the Securities and Exchange Commission (SEC) to provide a safe harbor for research reports that cover Exchange Traded Funds (ETFs) so that the reports would not be considered "offers" under the Securities Act of 1933.
Over the past three decades, ETFs have grown from about 100 funds with $100 billion in assets to over 1300 funds with $1.8 trillion in assets. However, due to anomalies in the securities laws and regulations, most broker-dealers do not publish research on ETFs, despite their growth in popularity. H.R. 2356 would clarify the law to allow broker-dealers to publish research on ETFs and increasing access to investment information for consumers.
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Source:https://hill.house.gov/
Nuveen Commodity Funds Provide Update on Proposed ETF Conversion
May 18, 2015--Nuveen Long/Short Commodity Total Return Fund Announces Shareholder Approval of Conversion
Nuveen Diversified Commodity Fund Adjourns Annual Meeting to Permit Continued Solicitation of Votes.
Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors,today announced that shareholders of the Nuveen Long/Short Commodity Total Return Fund (NYSE MKT: CTF), have approved the plan to convert the fund into open-ended exchange-traded fund (ETF). The conversion plan is also contingent on customary regulatory approvals.
As previously announced, the purpose of the conversion is to seek a closer alignment between the fund's share price and net asset value.
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Source: Nuveen Investments
Nuveen Commodity Funds Provide Update on Proposed ETF Conversion
May 18, 2015--Nuveen Commodity Funds Provide Update on Proposed ETF Conversion
Nuveen Long/Short Commodity Total Return Fund Announces Shareholder Approval of Conversion
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Adjourns Annual Meeting to Permit Continued Solicitation of Votes
Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that shareholders of the Nuveen Long/Short Commodity Total Return Fund (NYSE MKT: CTF), have approved the plan to convert the fund into open-ended exchange-traded fund (ETF). The conversion plan is also contingent on customary regulatory approvals.
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Source: Reuters
Vanguard widens lead over rivals; BlackRock gains on Fidelity
May 18, 2015--Vanguard Group Inc. stretched its lead as the largest manager of U.S. defined contribution plan assets in Pensions & Investments' annual money manager survey.
Fidelity Investments remained in second, after losing the crown in 2013, but BlackRock (BLK) Inc. (BLK) is gaining on it.
