Americas ETP News
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SEC to Gather Data on Unregistered Advisors, Brokers
September 29, 2017--Agency seeing many infractions involving distributed ledger technology; third-party advisor exams not front of mind, SEC's Clayton said
The Securities and Exchange Commission is mulling compiling data on people who are not registered as advisors or brokers in order to catch more incidences of fraud, the agency's chairman said.
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Source: thinkadvisor.com
XTF ETF Fund Stats Top 5 ETFs Funds week ending september 22, 2017 view complete report
September 29, 2017--View the top 5 ETF highs & lows, most active, top inflows & outflows, movers & laggards, successful recent launches, trade with caution and more
Source: XTF
Renaissance Capital-3Q17 US IPO Review
September 29, 2017--IPO Market Enters Fourth Quarter with the Wind at its Back
The US IPO market saw 29 IPOs raise $4.1 billion in the third quarter, a drop from the prior year period. Small-cap health care companies, mostly biotechs, made up almost half of all IPOs.
Technology IPOs fell by 70%. Private equity brought few large offerings, and quarterly proceeds settled to the lowest level in six quarters. While activity was low, returns were extraordinarily high, as the average deal gained 36%. After a slow summer, the quarter gained momentum post-Labor Day. Almost half of the 29 IPOs came in the final two weeks of the quarter. In stark contrast to the 2Q17 that ended with two high-profile tech flops, the 3Q ended with TV streaming platform Roku rocketing 100%, confirming there is still demand for high-growth tech stocks.
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Source: Renaissance Capital
Renaissance Capital Scheduled U.S. IPOs this week
September 29, 2017--Scheduled U.S. IPOs-Week of 10/02/17
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IPO Activity
There have been 106 IPOs priced so far this year, a +41% change from last year.
Source: Renaissance Capital
Hartford Funds Adds to its Actively Managed Fixed Income ETF Lineup
September 28, 2017--Hartford Funds today announced the listing of its third actively managed fixed income Exchange-Traded Fund ("ETF"), the Hartford Total Return Bond ETF (NYSE: HTRB).
Sub-advised by Wellington Management Company LLP ("Wellington"), this actively managed ETF delivers a core fixed income strategy and adds to a growing and comprehensive suite of investing tools for financial advisors and their clients.
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Source: Hartford Funds
Rep. Wagner Introduces Bill to Replace Fiduciary Rule with Best Interest Standard
September 28, 2017--Rep. Ann Wagner (R-MO) has introduced a bill in the U.S. House of Representatives to repeal the Department of Labor's fiduciary rule and replace it with a best interest standard of conduct for brokers.
If passed, The Protecting Advice for Small Savers (PASS) Act Of 2017 would give fiduciary rulemaking jurisdiction to the Securities and Exchange Commission, and would prevent the Treasury Department and the DOL from implementing fiduciary regulations on broker-dealers under The Employee Retirement Income Security Act of 1974.
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Source: thediwire.com
Canadian securities regulators announce ban on binary options
September 28, 2017--The Canadian Securities Administrators (CSA) today announce the implementation of Multilateral Instrument 91-102 Prohibition of Binary Options, which makes it illegal to advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual.
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Source: Canadian Securities Administrators (CSA)
Sage Launches Credit Index to Track Highly Liquid ESG Securities
September 28, 2017--Sage Advisory Services ("Sage"), a fixed income investment management firm, has launched the Sage ESG Intermediate Credit Index, with Wilshire Associates retained as index consultant and calculation agent.
The index uses Sage's proprietary ESG factor analysis framework and rules-based selection process. It is designed to maximize exposure to positive Environmental, Social & Governance (ESG) characteristics, while maintaining a high level of liquidity.
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Source: Sage Advisory Services
Backers withdraw two proposals to list U.S. bitcoin funds
September 28, 2017--An effort to allow investors to trade digital currencies as easily as stocks stumbled when backers withdrew two proposals to list bitcoin funds.
Van Eck Associates Corp pulled a registration document for a bitcoin fund after saying the SEC told them they would not review the filing until futures contracts on the digital currency start trading....
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Source: Reuters
Lipper-U.S. Weekly FundFlows Insight Report: Money Market Funds Attract the Largest Net Flows for the Week
September 28, 2017--For the third week in four investors were net purchasers of fund assets (including those of conventional funds and ETFs), injecting $7.3 billion. Investors padded the coffers of money market funds (+$16.1 billion), taxable bond funds (+$452 million), and municipal bond funds (+$378 million) for the week, while they were net redeemers of equity funds (-$9.7 billion).
Investors remained cautious during the fund-flows week ended Wednesday, September 27, 2017, as the rhetoric by both the United States and North Korea intensified and as the Fed continued to telegraph its intent to hike interest rates one more time in 2017 and begin unwinding its $4.5-trillion balance sheet in October. Nonetheless, talk of near-term rate hikes and President Donald Trump’s sweeping tax overhaul pushed bank stocks and small-cap issues higher during the week.
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Source: Thomson Reuters Lipper
