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SEC Proposes Amendments to Enhance Retail Investor Protections
September 26, 2019--Actions Increase Availability of Issuer Information and Modernize the Rule Governing Quotations for Over-the-Counter Securities
The Securities and Exchange Commission today announced that it has voted to propose amendments to Exchange Act Rule 15c2-11, which sets out certain requirements with which a broker-dealer must comply before it can publish quotations for securities in the over-the-counter ("OTC") market.
The proposed amendments are designed to modernize the Rule, which was last substantively amended in 1991, and to enhance investor protection by requiring that current and publicly available issuer information is accessible to investors. The proposed amendments would provide greater transparency to the investing public by requiring that information about the issuer and the security be current and publicly available before a broker-dealer can begin quoting that security.
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Source: SEC.gov
SEC Adopts New Rule to Allow All Issuers to "Test-the-Waters"
September 26, 2019--The Securities and Exchange Commission today announced that it has voted to adopt a new rule that extends a "test-the-waters" accommodation-currently a tool available to emerging growth companies or "EGCs"-to all issuers.
Under the new rule, all issuers will be allowed to gauge market interest in a possible initial public offering or other registered securities offering through discussions with certain institutional investors prior to, or following, the filing of a registration statement.
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Source: SEC.gov
Nuveen Unveils High-Yield Bond ESG ETF
September 26, 2019-- Nuveen today introduced what it calls the first high-yield corporate bond exchange-traded fund with an environmental, social and governance (ESG) focus.
The Nuveen ESG High Yield Corporate Bond ETF (NUHY) starts with an investment universe found in the Bloomberg Barclays U.S. High Yield Very Liquid Index that captures the U.S. dollar-denominated, high-yield, fixed-rate corporate bond market. From there, MSCI and the responsible investing team at Nuveen choose securities conforming to ESG-focused criteria determined by MSCI ESG Research LLC. That criteria is measured on an industry-specific basis.
view more The Fed pumps another $105 billion into markets, continuing its streak of capital injections view more IEX Exchange to Exit Listings Business view more
State Street Global Advisors Expands Low-Cost SPDR(R) Portfolio ETFTM Suite view more CFTC.gov Commitments of Traders Reports Update Global X Launches Cannabis ETF (POTX) To Provide Focused Access to a Burgeoning Theme
By tracking an index that specifically targets companies that attribute at least 50% of their revenue, operating income, or assets from the cannabis industry, POTX aims to offer investors a focused approach to investing in an emerging industry that may benefit from further legalization efforts across North America and the rest of the world. view more Financial Regulation and the Federal Budget view more
The Securities and Exchange Commission (SEC) has delayed a scheduled decision on the so-called 'ETF rule,' which it was set to vote on today.
Source: citywireusa.com
September 24, 2019--The Federal Reserve on Tuesday sold $105 billion in market repurchase agreements, or repos, in a continued effort to calm money markets and bring interest rates within its intended range.
The bank offered $75 billion in repos expiring overnight and $30 billion in repos expiring in 14 days. Banks bid for more than was available of each repo, signaling strong demand for the government-backed asset.
Source: businessinsider.com
September 23, 2019--Upstart exchange's only listed company decided to jump ship
IEX Group Inc. will abandon its listings effort after the upstart exchange's only listed company decided to jump ship.
The move means that corporate listings will remain an effective duopoly of the New York Stock Exchange and Nasdaq Inc., despite a long effort to break into the business by IEX, whose founders were the heroes of Michael Lewis's 2014 book "Flash Boys: A Wall Street Revolt."
Source: Wall Street Journal
September 20, 2019--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the addition of seven rebranded SPDR ETFs to the SPDR Portfolio suite. Introduced in 2017 and attracting $34.4 billion in new assets in just two years,1 the SPDR Portfolio offering now comprises 22 low-cost ETFs that provide access to a wide range of domestic and international equity and fixed income asset classes.
The seven rebranded funds added to the SPDR Portfolio suite comprise five fixed income and two international equity ETFs, representing $4.4 billion in assets.2 All seven have new names and ticker symbols to align with the SPDR Portfolio ETF suite and three funds have reduced net expense ratios, as detailed below, and the other four were reduced earlier:3
Source: State Street Global Advisors
September 20, 2019--The current reports for the week of September 17, 2019 are now available.
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Source: CFTC.gov
September 19, 2019--Global X ETFs, the New York-based provider of exchange-traded funds, announced today the launch of the 15th fund in its Thematic Growth suite, the Global X Cannabis ETF (Nasdaq: POTX).
Tracking the Cannabis Index, POTX aims to provide investors with an efficient tool to access leading companies across the cannabis industry.
Source: Global X ETFs
February 19, 2019--Financial institutions, such as banks, play a vital role in the economy by channeling funds from investors to households and businesses that need financing. By doing so, such institutions support economic activity, including household consumption and business investment, and thereby contribute to economic growth and job creation.
But instability in the financial industry can spill over into the economy and may even cause severe recessions, as demonstrated by the financial crisis of 2007 to 2009. Financial regulation and government guarantees, such as deposit insurance, are intended to protect consumers and investors and to ensure that the financial system remains stable and continues to make funding available for investments that support the economy.
Source: Congreaaional Budget Office (CBO)
