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IMF-Argentina: Financial System Stability Assessment
February 29, 2016--Summary: The documents related to the Financial Sector Assessment Program for the Republic of Argentina were completed in 2013.
The reports were prepared by an IMF team in spring of 2013 and were discussed and finalized by the IMF's Executive Board on July 12, 2013. The assessment and recommendations included herein reflect the views of IMF staff at that time and do not apply to developments occurred since then.
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Source: IMF
Rafferty Asset Management Closing Three Direxion Value Line(R) ETFs
February 29, 2016--The Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close the Direxion Value Line(R) Small- and Mid-Cap High Dividend ETF (VLSM), Direxion Value Line® Mid- and Large-Cap High Dividend ETF (VLML), and Direxion Value Line(R) Conservative Equity ETF (VLLV) ("the Funds") based on the recommendation of Rafferty Asset Management, LLC, the Trust's advisor.
Due to the Funds' inability to attract sufficient investment assets, Rafferty believes they cannot continue to conduct their business and operations in an economically efficient manner.
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Source: Direxion
UPDATE 1-Wall Street watchdog's board approves bond-markup rules
February 27, 2016--The Financial Industry Regulatory Authority's board of governors has approved a plan that would require brokerage firms to disclose how much they mark up the price of most bonds they sell to retail customers, the Wall Street watchdog said on Friday.
FINRA's controversial plan is similar to a parallel proposal by the Municipal Securities Rulemaking Board (MSRB), which regulates municipal advisers and bond dealers. The two plans aim to help the public assess the fairness of prices charged by brokers for corporate and municipal bonds.
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Source: Reuters
FINRA Approves Enhanced Price Disclosure to Retail Investors in Fixed-Income Securities
February 26, 2016--The Financial Industry Regulatory Authority's Board of Governors today approved a proposal designed to help retail customers understand and compare transaction costs in fixed-income securities.
The proposal, subject to the approval of the Securities and Exchange Commission, would require member firms to disclose on retail customer confirmations the "mark-up" or "mark-down" for most transactions in corporate and agency debt securities.
"FINRA has found that some individual investors pay considerably more than others for similar trades.
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Source: FINRA
Global X Funds Announces Name and Index Change for Greece ETF
February 26, 2016--Global X Funds, the New York based provider of exchange traded funds (ETFs), has announced that at the open of trading on March 1, 2016, the Global X FTSE Greece 20 ETF (NYSE Arca: GREK) will begin tracking the MSCI All Greece Select 25/50 Index.
The fund, with currently nearly $200 million in assets under management1, will change its name to the Global X MSCI Greece ETF.
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Source: Global X
Closing of Recon Capital FTSE 100 ETF
Recon Capital Series Trust Announces Closing of the Recon Capital FTSE 100 ETF
February 26, 2016--Recon Capital Series Trust and its series Recon Capital FTSE 100 ETF (Nasdaq: UK) (the "Fund") announce that the Fund will close to new investors on March 8, 2016 and liquidate on or about March 11, 2016.
The decision to close the Fund was made by the Recon Capital Series Trust's Board of Trustees after consultation with Recon Capital Advisors, LLC, the investment adviser to the Fund.
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Source: Recon Capital
ProShares RAFI Long/Short ETF (RALS) Changes Inde
February 26, 2016--ProShares, a premier provider of ETFs, announced that ProShares RAFI(R) Long/Short ETF (RALS) is changing its benchmark to the FTSE RAFI US 1000 Long/Short Total Return Index effective as of market close on Feb. 29, 2016.
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Source: ProShares
Economy was stronger than believed in Q4
February 26, 2016--The economy wasn't as feeble as believed late last year as businesses throttled back stockpiling less than initially estimated.
The nation's gross domestic product-a measure of all the goods and services produced in the economy-expanded at a seasonally adjusted annual rate of 1% in the fourth quarter, above the 0.7% initially estimated, the Commerce Department said Friday.
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Source: usatoday.com
Virtus files with the SEC
February 26, 2016--Virtus has filed a post-effective amendment, registration statement with the SEC for the Virtus Japan Alpha ETF.
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Source: SEC.gov
CFTC EEMAC Releases Report on 2015 Review and Consideration of the Proposed Rule on Position Limits
February 25, 2016--U.S. Commodity Futures Trading Commission (CFTC) Commissioner J. Christopher Giancarlo, who serves as the sponsor of the CFTC's Energy and Environmental Markets Advisory Committee (EEMAC or Committee), announced today that the Committee has submitted to the CFTC a report and recommendations approved by an 8-1 vote of the EEMAC.
The report also includes a minority dissent.
view moreview the Report on EEMAC's 2015 Review and Consideration of the CFTC's Proposed Rule on Position Limits
Source: CFTC.gov
