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SIFMA Proposes Best Interests Standard for Broker-Dealers as a Workable Solution to DOL's Fiduciary Rule Proposal
SIFMA Proposes Best Interests Standard for Broker-Dealers
June 3, 2015--Today, SIFMA president and CEO Kenneth E. Bentsen, Jr. announced the industry's "Proposed Best Interests of the Customer Standard for Broker-Dealers," which, if adopted, would establish a best interests standard for broker-dealers serving retail clients.
This proposal follows the industry's long established support for such a standard.
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Source: SIFMA
Crazy Quilt Chart of Regulation
Commissioner Daniel M. Gallagher
June 3, 2015--On March 2, 2015, I published a chart depicting the aggregation of U.S. financial services firm regulation since the enactment of the Dodd Frank Act in 2010.
My office has updated the chart to reflect significant FINRA rules and amendments implemented since July 2010.[1]
view the infographic-SEC Commissioner Daniel M. Gallagher-Rules Applicable to U.S. Financial Services Holding Company Adopted Since July 2010
Source: SEC.gov
Vanguard's China play ups the ante for industry
Other fund companies may find it difficult to match Vanguard's promise of access to a hot market
June 3, 2015--The Vanguard Group Inc.'s unexpected announcement this week that it will add exposure to China's high-flying but tightly regulated onshore markets accelerates competition among fund sponsors to provide the broadest exposure to global markets.
The firm, the largest U.S. mutual fund company, said Tuesday it would add exposure to China's vast "A share" market to its $68.7 billion Emerging Markets Stock Index Fund (VEIEX) and a related exchange-traded fund (VWO).
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Source: Investment News
Guggenheim Introduces BulletShares(R) ETF Bond Laddering Tool
June 3, 2015--Unique Online Resource Provides Advisors and Investors With Convenient and Efficient Ways to Create and Implement Customized Laddering Strategies With Innovative Guggenheim BulletShares ETFs.
Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, has introduced a unique online resource to help advisors and investors use Guggenheim's popular BulletShares ETFs to build a more efficient laddering strategy consisting of investment-grade and high-yield ETFs with varying terms to maturity.
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Source: Guggenheim Investments
ETF Research Center-Sector SPDR Analyzer + Equal Sector Weight ETF-June 2015
June 2, 2015--The monthly update on each of the nine Select Sector SPDRs plus the ALPS Equal Sector Weight ETF is now available.
view the ETF Analyzer Sector SPDR edition June 2015
view the ETF Analyzer ALPS Equal Sector Weight (EQL) as of May 29, 2015
Source: Etfresearchcenter.com
Vanguard Adds China A Shares to Emerging Fund Amid MSCI Debate
June 2, 2015--Vanguard Group Inc., the largest U.S. mutual fund firm, will add mainland Chinese shares to its $69 billion emerging-market fund.
China A shares will represent 5.6 percent of the benchmark index tracked by the Vanguard Emerging Markets Stock Index Fund, according to a statement Tuesday. The exchange-traded version of the fund--the Vanguard FTSE Emerging Markets ETF--will also include mainland equities. The fund will follow a transitional index unveiled last month by FTSE Group.
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Source: Bloomberg
Merk Outlook: dollar, currencies & gold
June 2, 2015--Has the tide turned, or is the dollar merely taking a breather? Is the euro's recent bounce off its lows just a dead cat bounce, or is it a sign of other changes to come? Why has gold not rallied with the recent retreat of the dollar?
What dynamics might be unfolding for the rest of the year? Below we share our outlook and analysis on how economic and financial developments might affect the price of the U.S. Dollar, other currencies, as well as the ultimate hard currency, gold.
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Source: Merk Investments
New TMX CEO shuffles executives, seeks sales administrator
June 2, 2015--TMX Group Ltd is looking to hire a sales chief as part of a reorganization initiated by recently hired Chief Executive Officer Lou Eccleston.
The operator of Canada's biggest stock exchange said on Tuesday that the new executive will focus on commercial strategy and client experience to help fend off competition from rivals, pitch products to investors and attract new stock issues
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Source: Reuters
Investors pull $2.7 bln from Pimco Total Return; $53 mln from ETF
June 2, 2015-- Investors yanked another $2.7 billion from the Pimco Total Return Fund in May, their 25th straight month of withdrawals, but less than half the previous month's pace.
The outflows in May leave the Pimco Total Return Fund, which lost its crown as the biggest bond fund in the world in April, with assets of $107.3 billion at month's end, Pacific Investment Management Co said on Tuesday.
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Source: Yahoo Finance
Structure Matters Series: Know the Factors that drive performance
June 1, 2015--The goal of this next Structure Matters series is to provide practical guidelines with how factor based investing should be monitored, measured and used.
In this series, we will interview ETF portfolio managers and key decision makers who are involved in the ETF construction and the factor weightings that drive index and "real money" performance. Although the label "smart beta" is at the core of the factor question, investors in passively managed funds need to recognize that a "do nothing strategy" arguably results in the automatic acceptance of certain risks.
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Source: Access ETF Solutions
