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Expect tumult for broker-dealers if DOL fiduciary plan goes through
Prohibited transaction is key: Will give rise to new legal exposure, new comp models
April 14, 2015--It's early days, but retirement plan experts predict a major shake-up in the way broker-dealers do business with small retirement plans and IRAs-all thanks to a prohibited transaction exemption in the Labor Department's new fiduciary duty proposal.
The DOL released its newly minted "definition of fiduciary" reproposal on Tuesday afternoon, adding to it a block of related regulation in the form of prohibited transaction exemptions. In all, the brand-new rule and its exemptions came out to more than 300 pages of text-now open for comments.
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Source: Investment News
US Labor Department seeks public comment on proposal to protect consumers from conflicts of interest in retirement advice
April 14, 2015--The U.S. Department of Labor has released a proposed rule that will protect 401(k) and IRA investors by mitigating the effect of conflicts of interest in the retirement investment marketplace.
A White House Council of Economic Advisers analysis found that these conflicts of interest result in annual losses of about 1 percentage point for affected investors-or about $17 billion per year in total.
Under the proposals, retirement advisers will be required to put their clients' best interests before their own profits. Those who wish to receive payments from companies selling products they recommend and forms of compensation that create conflicts of interest will need to rely on one of several proposed prohibited transaction exemptions.
view the The Effects of Conflicted Investment Advice of Retirement Savings
view the DOL Proposed Best Interest Contract Exemption
Source: DOL
Exceed Investments Redefines the Future of Risk and Return with the Launch of the Exceed Structured Shield Index Strategy Fund
April 14, 2015--Exceed Investments announced today the launch of its new mutual fund which is designed to provide increased control for advisors with specific levels of participation and downside protection.
The Exceed Structured Shield Index Strategy Fund seeks to track the performance of the Nasdaq Exceed Structured Protection Index (EXPROT).
The Fund focuses on a clearly defined conservative exposure to the S&P 500 (Tickers: SHIEX, SHIIX).
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Source: Exceed Investments
Fed official warns 'flash crash' could be repeated
April 14, 2015--A senior Federal Reserve official has warned that last autumn's "flash crash" in US Treasurys could happen again due to the changing nature of the US government debt market, and urged banks, investors and exchanges to adopt a revised set of guidelines in response to the turmoil.
The US Treasury market is the biggest and most liquid in the world, and forms the bedrock for the global financial system.
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Source: CNBC
CFTC.gov Commitments of Traders Reports Update
April 10, 2015--The current reports for the week of April 7, 2015 are now available.
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Source: CFTC.gov
IMF Executive Board Concludes 2014 Article IV Consultation with Brazil
April 10, 2015--The Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation1 with Brazil on March 16, 2015.
Starting in 2015, the new government has been introducing a series of measures to strengthen macroeconomic policies and restore credibility following a period in which Brazil's growth has surprised on the downside.
Determined implementation of these measures should help restore confidence and foster a recovery in growth and investment in due course.
Brazil's growth has decelerated in recent years.2 The boost from decade-old reforms, expanding labor income, and favorable external conditions, which enabled consumption and credit-led growth and underpinned sustained poverty reduction, has lost steam. Investment has been sluggish, reflecting eroding competitiveness, a worsening business environment, and lower commodity prices. Consumption has also moderated despite strong wage increases, as job creation has halted and financial conditions have tightened, affecting household income and consumer confidence.
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Source: IMF
CFTC.gov Commitments of Traders Reports Update
April 10, 2015--The current reports for the week of April 7, 2015 are now available.
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Source: CFTC.gov
Morningstar Q1 Market Commentary Now Available
April 10, 2015--The bull market in U.S. equities reached its six-year anniversary in March, but stocks endured a quieter quarter than most during this historic run.
Biotech stocks surged on acquisition offers, but crude oil and natural gas prices remained depressed and energy stocks traded at steep discounts to summer 2014 levels. The Federal Reserve ended the morphine drip of stimulus in October of last year, and markets are entering a new territory.
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Source: Morningstar
This Week's IPO Calendar from Renaissance Capital
April 10, 2015--Renaissance Capital's upcoming IPO calendar tracks the companies scheduled to price their IPOs this week.
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Source: Renaissance Capital
Invesco PowerShares Announces Launch of S&P 500 ex-Rate Sensitive Low Volatility Portfolio (XRLV)
Increased Volatility and Rising Rates Highlight Need for Risk Management Solutions
April 9, 2015--Invesco PowerShares Capital Management, LLC, a leading global provider of exchange-traded funds (ETFs), announced the launch of the PowerShares S&P 500 ex-Rate Sensitive Low Volatility Portfolio (XRLV), which was listed today on the NYSE ARCA.
Based on the industry leading S&P 500 Low Volatility Rate Response Index, XRLV offers a two-factor solution to investors looking for low volatility equity exposure while seeking protection against rising interest rates.
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Source: Invesco PowerShares
