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CFTC.gov Commitments of Traders Reports Update
July 12, 2019--The current reports for the week of July 12. 2019 are now available.
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Source: CFTC.gov
SEC Staff Publishes Statement Highlighting Risks for Market Participants to Consider As They Transition Away from LIBOR
July 12, 2019--The Securities and Exchange Commission today announced that SEC staff have published a statement that encourages market participants to proactively manage their transition away from LIBOR and outlines several potential areas that may warrant increased attention during that time. It is expected that parties reporting information used to set LIBOR will stop doing so after 2021.
"The transition away from LIBOR is gaining some much needed traction, but, as the staff's statement makes clear, significant work remains," said Chairman Jay Clayton.
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Source: sec.gov
Aptus expands risk management suite with launch of options collar ETF
July 11, 2019--Independent investment manager Aptus Capital Advisors has launched a new actively managed equity ETF that seeks to provide income while offering downside protection through the use of option strategy overlays.
The Aptus Collared Income Opportunity ETF (ACIO US) has listed on Cboe BZX Exchange and comes with an expense ratio of 0.79%.
The fund invests in approximately 30 US-listed large-cap equity securities including real estate investment trusts (REITs) and American Depository Receipts (ADRs).
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Source: etfstrategy.com
Vanguard 'green' fund invests in oil and gas-related stocks
July 10, 2019--SEC commissioner complains investors are being 'misled' by marketing materials.
A $500m exchange-traded fund run by Vanguard that claims to 'specifically exclude' fossil fuel stocks invests in a host of companies in the oil and gas industry,
amplifying concerns that investors could be misled by socially and environmentally focused products.
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Source: FT.com
CBO-Monthly Budget Review for June 2019
July 8, 2019--The federal budget deficit was $746 billion for the first nine months of fiscal year 2019, CBO estimates, $139 billion more than the deficit recorded during the same period last year.
Revenues were $69 billion higher and outlays were $208 billion higher than during first nine months of 2018.
Total Receipts: Up by 3 Percent in the First Nine Months of Fiscal Year 2019
Receipts totaled $2,609 billion during the first nine months of fiscal year 2019, CBO estimates-$69 billion (or 3 percent) more than during the same period last year. That increase was the result of changes in receipts from the following sources:
Individual income and payroll (social insurance) taxes together rose by $60 billion (or 3 percent).
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Source: Congressional Budget Office (CBO)
SoFi Introduces Stock Bits: Fractional Share Buying Made Easy
July 8, 2019--Fractional Shares Added to Mobile-First Robo, No-Fee Brokerage SoFi Invest
SoFi today announced the general availability of its Stock Bits feature for SoFi Invest, offering the ability to buy and sell fractional shares with as little as $1 in over 50 popular stocks and ETFs ranging from Apple and Amazon, to Alphabet and Tesla*.
Designed with those new to investing in mind, the SoFi Invest platform offers industry-leading benefits, no fees, and a seamless mobile-first interface.
"People are told to 'buy what they like', but when what they like costs over $100 or $1,000 per share, first-time investors are priced out," said Anthony Noto, CEO at SoFi. "Investing is a financial requirement for achieving financial independence, and it is our focus to remove the barriers to getting started by providing features like Stock Bits for SoFi Invest."
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Source: SoFi
NYSE Gets New Cannabis ETF With Unique Characteristics
July 8, 2019--The New York Stock Exchange is getting a new cannabis-focused ETF: The Cannabis ETF (NYSE:THCX).
With a name as great as its ticker, the Cannabis ETF will focus on companies in the legal marijuana, CBD, and hemp industries.
This passively managed pure-play ETF was launched by Innovation Shares, a sponsor of unique thematic exchange traded funds, and will trade on the NYSE Arca, formerly known as ArcaEx.
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Source: Forbeas
SEC and FINRA-Joint Staff Statement on Broker-Dealer Custody of Digital Asset Securities
July 8, 2019--Market participants have raised questions concerning the application of the federal securities laws and the rules of the Financial Industry Regulatory Authority ("FINRA") to the potential intermediation-including custody-of digital asset securities[1] and transactions.
In this statement, the staffs of the Division of Trading and Markets (the "Division") and FINRA (collectively, the "Staffs")-drawing upon key principles from their historic approach to broker-dealer regulation and investor protection—have articulated various considerations relevant to many of these questions, particularly under the SEC's Customer Protection Rule applicable to SEC-registered broker-dealers.[2]
As a threshold matter, it should be recognized by market participants that the application of the federal securities laws, FINRA rules and other bodies of laws to digital assets, digital asset securities and related innovative technologies raise novel and complex regulatory and compliance questions and challenges.
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Source: sec.gov
CFTC.gov Commitments of Traders Reports Update
July 8, 2019--The current reports for the week of July 2, 2019 are now available.
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Source: CFTC.gov
FTSE Russell launches first climate risk government bond index1
July 8, 2019--FTSE Climate Risk-Adjusted World Government Bond Index allows sovereign debt investors to incorporate climate change risk considerations
into their portfolios
First time that a quantitative measure of climate risk has been applied to
sovereign debt
Countries are weighted in the index according to their "Climate Score"-the higher the index weight, the lower the Climate Risk exposure
Index utilises climate risk modelling developed by Beyond Ratings,
respected ESG analytics provider recently acquired by LSEG
FTSE Russell, the global index, data and analytics provider, has launched the first government bond index to
adjust index weights based on each country's preparedness and resilience to climate change risk. The FTSE
Climate Risk-Adjusted World Government Bond Index ("Climate WGBI") is derived from the FTSE World
Government Bond Index, a widely used benchmark of investment-grade sovereign bonds of 22 developed
economies.
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Source: FTSE Russell
