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DOL-CONFLICT OF INTEREST FAQS (PART II- RULE)
January 13, 2017--Set out below are a number of Frequently Asked Questions (FAQs) regarding implementation of the conflict of interest (COI) final rule (Rule) on fiduciary investment advice.
Since the publication of the Rule last April, the Department has held many meetings with stakeholders to assist in their compliance efforts. Many of the questions they raised related to the various Rule provisions that draw lines between fiduciary and non-fiduciary communications.
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U.S. Department of Labor Employee Benefits Security Administration
DOL CONSUMER PROTECTIONS FOR RETIREMENT INVESTORS-FAQS ON YOUR RIGHTS AND FINANCIAL ADVISERS
January 13, 2017-Beginning on April 10, 2017, retirement investors will benefit from important new protections requiring that financial advisers act in their best interest.
While many investors think that their financial adviser already is required to act in their best interest-like their doctor or their lawyer-the law hasn't always required it. Financial companies often pay advisers more to promote certain products rather than to recommend what is best for their customers. That incentive creates what is known as a conflict of interest. And conflicts of interests sometimes can cause advisers to give bad advice.
Pacer ETFs unifies Cash Cows fund series by renaming Pacer Global High Dividend ETF
January 13, 2017--Pacer Global High Dividend ETF was renamed Pacer Global Cash Cows Dividend ETF.
Pacer ETFs announces that as of Friday, January 13, 2017, the BATS Global Markets-listed "Pacer Global High Dividend ETF"
(PGHD) will now be called the "Pacer Global Cash Cows Dividend ETF" (GCOW, the "fund").
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Source: Pacer
NYSE Extends Lead in U.S. ETF Listings, Trading and AUM in 2016; Market Quality and Liquidity Drove Continued Market Share Leadership
January 12, 2017--In 2016, NYSE Arca, NYSE Group's marketplace for exchange traded funds1 (ETFs), reaffirmed its position as the leading ETF listings exchange for the ninth consecutive year with greater than 92 percent of total ETF assets under management (AUM).
NYSE Arca also maintained its position as the deepest pool of liquidity for the trading of ETF securities with nearly 2.5 times the trading of the next closest venue. 35 of the top 50 (70%) new ETF listings by assets under management listed on NYSE Arca in 2016.
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Source: NYSE Group
NYSE Launches Smart Beta Index With Roger Ibbotson And Zebra Capital
The NYSE(R) Zebra EdgeTM Index applies renowned economist's behavioral finance research aiming to capture higher returns with lower volatility
January 12, 2017--The New York Stock Exchange (NYSE), part of Intercontinental Exchange (NYSE:ICE), and Zebra Capital Management announce the recent launch of the NYSE Zebra Edge Index (NYSE: ZEDGENY),
an index that incorporates behavioral finance research on high-turnover, or "popular" stocks, with the goal of capturing higher returns with lower volatility.
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Source: Intercontinental Exchange (ICE)
SEC Announces 2017 Examination Priorities
January 12, 2017--The Securities and Exchange Commission today announced its Office of Compliance Inspections and Examinations' (OCIE) 2017 priorities. Areas of focus include electronic investment advice, money market funds, and financial exploitation of senior investors. The priorities also reflect a continuing focus on protecting retail investors, including individuals investing for their retirement, and assessing market-wide risks.
"These priorities make clear we are continuing to focus on a wide range of issues impacting our markets, from traditional areas such as market-wide risks to new forms of technology including automated investment advice," said SEC Chair Mary Jo White.
view the Examination Priorities-2017
Source: SEC.gov
Davis Advisors launches three transparent actively managed equity ETFs
January 12, 2017--Davis Advisors today announced the launch of three transparent actively-managed exchange traded funds (ETFs), Davis Select U.S. Equity ETF (DUSA), Davis Select Financial ETF (DFNL), and Davis Select Worldwide ETF (DWLD).
They are the first ETFs offered by Davis and among the first true actively-managed equity ETFs in the industry, using a fundamental bottom up approach. Davis has decades of experience investing in these areas. Each ETF utilizes the Davis Investment Discipline and is a high-conviction, best ideas, benchmark-agnostic portfolio. The ETFs have low expected portfolio turnover and a strategic long-term time investment horizon. Davis ETFs offer investors the traditional benefits of ETFs in general, which include low costs, tax efficiency, intraday liquidity, and transparency.1
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Source: Davis Advisors
Redwood to Launch Series of Active Exchange Traded Funds on NEO
January 12, 2017--Redwood Asset Management ("Redwood"), a wholly owned subsidiary of Purpose Investments Inc. ("Purpose"), and Aequitas NEO Exchange Inc. ("NEO Exchange" or "NEO") are pleased to announce that Redwood plans to launch four exchange traded funds, consisting of six ETF listings, on NEO.
This is the first series of Redwood ETFs to be launched on the public markets, and will provide investors with a suite of ETF solutions managed by best-in-class specialist investment boutiques.
view filing PowerShares Launches Ultra-Short-Term Bond ETF, Cash Alternative view more
Closing out 2016, Nasdaq now has a total of 328 products listed, marking an increase of 50 percent compared to 2015. In the fourth quarter, nine ETPs listed and 27 products switched to Nasdaq from other U.S. exchanges.
Source: Nasdaq.com
January 12, 2017--Invesco PowerShares has debuted an ultra-short-term Treasury bond exchange traded fund that catered toward investors in need of posting collateral or a safe haven to park their cash.
On Thursday, PowerShares rolled out the PowerShares Treasury Collateral Portfolio (NYSEArca: CLTL).
Source: foxbusiness.com
