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Investor protection rule is dead
June 21, 2018--A decision by a U.S. court effectively put an end to the Department of Labor's fiduciary rule that would require all financial advisors to act in clients' best interests with regard to retirement accounts
The Securities and Exchange Commission is moving forward with its own best-interest standard for financial professionals who work with retail investors.
The decision drew mixed reactions, while one advocate saying all investors need to be vigilant as to whether or not they are working with a fiduciary.
A rule that would require that all financial advisors to act in their clients' best interests with regard to their retirement accounts has been killed.
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Source: CNBC
Man Behind an ETF of the ETF-Industry Wants to Help Others Get in the Game
June 20, 2018--Toroso Investments wants to become a white-label ETF issuer
Firm hires Direxion's Falkeis to run rebranded consulting unit
The man behind a very meta ETF is doubling down on exchange-traded funds.
Michael Venuto, chief investment officer of Toroso Investments--a New York-based consultant, asset allocator and sub-adviser, as well as the index provider for the ETF Industry Exposure & Financial Services fund --now wants to become an issuer.
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Source: Bloomberg
Reality Shares Launches First-Ever China Blockchain ETF
June 20, 2018--BCNA offers exposure to Chinese companies at the forefront of the burgeoning blockchain technology ecosystem
Reality Shares, an innovative asset management firm, exchange-traded fund (ETF) issuer and index provider, today launches the first ETF to give investors access to China-based companies potentially leading the blockchain technology revolution.
The Reality Shares Nasdaq NexGen Economy China ETF (Nasdaq: BCNA) tracks the Reality Shares Nasdaq Blockchain China Index, which seeks to identify and invest in Chinese companies committing material resources to develop and implement blockchain technology. The index rebalances semiannually and is comprised of 31 constituents.
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Source: Reality Shares
Vanguard To Transfer Exchange Listing Of Total Bond Market ETF To Nasdaq
June 20, 2018--Vanguard today announced plans to transfer the listing of the $36.7 billion Vanguard Total Bond Market ETF (BND) from NYSE Arca to Nasdaq on or about July 26, 2018. Until that time, Vanguard Total Bond Market ETF will continue to trade on NYSE Arca.
Clients should not expect any meaningful impact to their trading experience as a result of the transfer.
By moving BND to Nasdaq, Vanguard aims to achieve certain benefits, including trading and liquidity synergies among its suite of total bond market ETFs. Vanguard recently filed a preliminary registration statement for Vanguard Total World Bond ETF, which will invest primarily in two underlying ETFs: Vanguard Total Bond Market ETF and Vanguard Total International Bond ETF (BNDX). exchange-listing-of-total-bond-market-etf-to-nasdaq-300667937.html" TARGET="_blank">view more
Source: Vanguard
E*TRADE Adds Several of Today's Most Popular ETFs to Commission-Free ETF Lineup
June 20, 2018--E*TRADE Adds Several of Today's Most Popular ETFs to Commission-Free ETF Lineup
E*TRADE is now the only major online broker to offer Vanguard ETFs commission-free.
E*TRADE Financial Corporation (NASDAQ: ETFC) today announced it has surpassed 250 commission-free ETFs with the addition of 46 ETFs from six providers to its Commission-Free ETF Program, all of which are non-proprietary:
New additions include 32 Vanguard ETFs, in addition to ETFs from Direxion, iShares, Janus Henderson, NuShares, and Reality Shares.
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Source: E*TRADE
A Big Cannabis Compromise in the Works?
June 20, 2018--The upside potential of the cannabis industry remains enormous. However, the fact of the matter is that marijuana remains federally illegal in the United States. While sensationalism may appear to constantly dominate the news cycle, we may have received more clarity during the last week and a half regarding the prospects of the broader U.S cannabis industry perhaps than any other time in recent history.
We're not referring to Dennis Rodman's well-publicized appearances in Singapore surrounding an unprecedented summit between the heads of state of the United States and North Korea, which involved an unabashed promotion of a certain cryptocurrency sponsor. Instead, the introduction of a bicameral, bipartisan piece of legislation on June 7, an impromptu press availability by the president of the United States on June 11, and comments by the U.S. Federal Reserve chairman on June 13 brushed strokes of remarkable definition across a landscape that may be more quickly evolving than realized.
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CFTC.gov Swaps Report Update State Street Global Advisors Launches Communication Services Select Sector SPDR(R) ETF view more
The VIX futures June settlement, calculated using a subset of S&P 500 .SPX options, was 12.27, according to Cboe data. The VIX opened during regular trading hours at 12.47.
Source: Reuters
June 20, 2018--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
June 19, 2018--Newest SPDR ETF Keeps Industry's Largest Sector Suite Aligned with Upcoming GICS Changes
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the launch of the Communication Services Select Sector SPDR Fund (XLC).
The fund will provide exposure to the new Communication Services sector, unveiled by S&P Dow Jones Indices and MSCI Inc., following the annual review of the Global Industry Classification Standard (GICS) structure in November 2017.
Source: State Street Corporation
