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SEC Adopts Additional Rules Related to Security-Based Swap Transaction Reporting
July 13, 2016--The Securities and Exchange Commission today announced that it has adopted amendments and guidance related to rules regarding the regulatory reporting and public dissemination of security-based swap transactions, known as Regulation SBSR.
The new rules and guidance are designed to increase transparency in the security-based swap market.
The rules and guidance implement mandates under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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Source: SEC.gov
AdvisorShares Launches the AdvisorShares Cornerstone Small Cap ETF (SCAP)
July 12, 2016--Small cap offering becomes first actively managed ETF to convert the performance history from a different investment structure
AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), has launched the AdvisorShares Cornerstone Small Cap ETF (NYSE Arca: SCAP), which began trading on Thursday, July 7, 2016.
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Source: AdvisorShares
Global X Funds Launches Conscious Companies ETF
July 12, 2016--Global X Funds, the New York-based provider of exchange-traded funds (ETFs), today launched the Global X Conscious Companies ETF (KRMA).
The ETF tracks a proprietary index created by Concinnity Advisors, which draws on dozens of sources to identify companies that have demonstrated a long term focus on creating positive outcomes for a variety of stakeholders, including employees, customers, communities, suppliers, and stock and debt holders.
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Source: GLOBAL X
CBO-H.R. 5424, Investment Advisers Modernization Act of 2016
July 12, 2016--Under current law, the Securities and Exchange Commission (SEC) enforces rules and requirements for advertising, transferring, and selling funds and securities by investment advisers. H.R. 5424 would provide investment advisers several exemptions from certain of those requirements.
It also would prohibit the SEC from applying its rules to private funds that provide sales literature about their securities offerings.
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Source: Congressional Budget Office (CBO)
CBO-The 2016 Long-Term Budget Outlook
July 12, 2016--If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years-reaching the highest level of debt relative to GDP ever experienced in this country.
If current laws governing taxes and spending did not change, the United States would face steadily increasing federal budget deficits and debt over the next 30 years, according to projections by CBO. Federal debt held by the public, which was equal to 39 percent of gross domestic product (GDP) at the end of fiscal year 2008, has already risen to 75 percent of GDP in the wake of a financial crisis and a recession.
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Source: CBO
IMF-Structural Forces Weigh on Future U.S. Growth
July 12, 2016--U.S. growth resilient, forecast at 2.2 percent this year, 2.5 percent in 2017
Addressing long-term structural problems key to ensure continued solid growth
U.S needs to lower public debt
While the U.S. economy is doing well, continued solid growth hinges on addressing long-term issues of falling labor force participation, weak productivity, rising income polarization, and high poverty rates, the IMF said in its annual review on the state of the U.S. economy.
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Source: IMF
Rep. DeFazio to Propose Financial Transactions Tax
July 11, 2016--Rep. Peter DeFazio (D-Ore.) is scheduled to introduce a plan to levy a 0.03 percent tax on most financial trades as he seeks to curb high-frequency trading.
The legislation, set to be introduced July 13, "will discourage risky trading behaviors that put everyday Americans' investments on the line and is expected to collect over $417 billion in revenue in the next decade," according to a July 11 statement from DeFazio's office. DeFazio introduced similar legislation in 2013.
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Source: Bloomberg BNA
CBO-Monthly Budget Review for June 2016
July 8, 2016--The federal budget deficit was $397 billion for the first nine months of fiscal year 2016, the Congressional Budget Office estimates-$81 billion more than the shortfall recorded during the same period last year.
Total Receipts: Up by 1 Percent in the First Nine Months of Fiscal Year 2016
Receipts for the first nine months of fiscal year 2016 totaled $2,470 billion, CBO estimates-just $23 billion more than in the same period last year.
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Source: Congressional Budget Office (CBO)
Auour Investments and Riskalyze Partner to bring Risk Number(R) to the Instinct Family of Downside Protection Strategies
July 7, 2016--Auour Investments, an investment firm focused on downside protection through risk regime detection, and Riskalyze, a platform that enables advisers to capture a quantitative measurement of client risk tolerance, have formalized a partnership to bring Auour Investment's Instinct family of ETF-based downside protection strategies to the Riskalyze community.
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Source: Auour Investments LLC
Folio Institutional's Model Manager Exchange Adds Morningstar Managed Portfolios ETF and Mutual Fund Models
July 7, 2016--Folio Institutional has added 31 Morningstar(R) Managed PortfoliosSM ETF and mutual fund models to its Model Manager Exchange (MMX).
Folio provides MMX, a network of third-party investment models, to registered investment advisors (RIAs) who seek more efficient, cost-effective asset management solutions.
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Source: Folio Institutional
