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EU unveils plans for pan-European pension
June 29, 2017--The European Commission has set out plans to create a 'simple and cost effective' pan-European personal pension product (PEPP)-in effect, a cross-state voluntary personal pension scheme.
The Commission said the PEPP was designed to give savers more choice when they were putting money aside for old age, and aimed to provide them with more competitive products.
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Source: professionaladviser.com
ECB-Monetary developments in the euro area: May 2017
June 28, 2017--The annual growth rate of the broad monetary aggregate M3 stood at 5.0% in May 2017, after 4.9% in April 2017.
The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, stood at 9.3% in May, unchanged from the previous month.
The annual growth rate of adjusted loans to households increased to 2.6% in May, from 2.4% in April.
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Source: ECB
IndexIQ launches five multi-factor ESG ETFs
June 28, 2017--IndexIQ has launched five new ETFs that employ an environmental, sustainable and governance (ESG) filter to screen potential securities and then a smart beta multi-factor methodology to weight the selected constituents.
The suite includes three equity and two bond (sovereign and corporate) ETFs listed on the Euronext Paris Exchange.
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Source: etfstrategy.co.uk
UK regulator sets sights on institutional cost transparency
June 28, 2017--The Financial Conduct Authority (FCA) has today published the final findings of its asset management market study and announced the package of remedies it will take forward to address the concerns identified in its interim report into the sector.
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view the FCA Asset Management Market Study -Final Report
Source: fca.org.uk
Solactive And Candriam Team Up To Launch The Factors Sustainable Index Family-Providing The Underlying Indices For Five Etfs Issued By Candriam
June 28, 2017--Solactive and Candriam have joined forces to launch the Solactive Candriam Factors Sustainable Index Family offering exposure to companies with sustainable and responsible investing criteria as determined by Candriam's SRI screening methodology.
The family is composed of five fundamentally-weighted indices with factor tilts, including three equity and two fixed-income indices, which are used as the basis for five new ETFs issued by Candriam and trading on the Paris Euronext Stock Exchange (and cross-listed on Amsterdam Euronext).
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Source: solactive.com
Investment consultants face greater regulatory oversight
June 28, 2017--UK watchdog finds evidence of opaque fees and conflicts of interest in £1.6tn sector
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Source: FT.com
Bank of England-Financial Stability Report, June 2017
June 27, 2017--The Financial Policy Committee (FPC) prepares and publishes a Financial Stability Report (FSR) twice per calendar year.
The FSR sets out the FPC's assessment of the outlook for financial stability in the United Kingdom. To do this, the FPC identifies the risks faced by the UK financial system and weighs them against the resilience of the system.
view the Bank of England-Financial Stability Report, June 2017
Source: Bank of England
Solactive introduces Solactive Spain 40 Index
June 27, 2017--Underlying the db x-
trackers Spanish Equity UCITS ETF (DR)
Solactive is excited to announce the release of the Solactive Spain 40 Index, a new benchmark tracking the performance of the forty largest and most liquid
companies listed in Spain.
The index is used as the underlying index for the db x-trackers Spanish Equity UCITS ETF (DR), formerly db x-trackers IBEX 35(R) UCITS ETF (DR), switching today
from the IBEX 35(R) Index to the
Solactive Spain 40 Index.
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Source: solactive.com
MiFID II: ESMA issues final guidelines on trading halts
June 27, 2017--The European Securities and Markets Authority (ESMA) has issued today its final guidelines on trading halts under the Markets in Financial Instruments Directive (MiFID II).
MiFID II provides that Member States shall require a regulated market to be able to temporarily halt or constrain trading if there is a significant price movement in a financial instrument on that market or a related market during a short period and, in exceptional cases, to be able to cancel, vary or correct any transaction.
view the Guidelines on calibration of circuit breakers and publication of trading halts under MiFID II
Source: ESMA
The EU May Need to Introduce a Bloc-Wide Tax After Brexit
June 27, 2017--Commission sees gap in EU finances after U.K.'s withdrawal
Bloc's executive arm publishes reflection paper on EU budget
The European Union should consider introducing common taxes as it seeks to overhaul its budget and cover a more-than 10 billion-euro ($11.4 billion) annual financing hole created by Brexit, the bloc's executive arm said.
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Source: Bloomberg