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UBS case shines light on proprietary index disclosures
December 3, 2015--With greater regulatory focus on proprietary indexes following UBS's $19.5 million settlement in October for making false and misleading statements in its disclosures, dealers are redoubling their efforts to shore up product governance.
Eighteen days before Halloween, US structured product providers suffered a nasty fright. After years of general warnings to tighten up disclosures for products linked to proprietary indexes, the Securities and Exchange Commission (SEC) finally took action, accusing UBS of making false and misleading disclosures about the performance...
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Source: risk.net
Brazil GDP plunges 4.5%
December 2, 2015--Brazil's economy shrank by a record 4.5 percent year-on-year in the third quarter, new figures revealed yesterday, deepening the country's sharpest recession in 25 years and adding fuel to opposition
fires targeting President Dilma Rousseff as she struggles to close a growing fiscal deficit and contain a vast corruption scandal.
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Source: buenosairesherald.com
BATS ETF Marketplace Welcomes MomentumShares ETF
MomentumShares U.S. Quantitative Momentum ETF Began Trading Today
December 02, 2015
December 2, 2015--BATS Global Markets (BATS), the #1 U.S. market for the trading of exchange-traded funds (ETFs), today welcomed the MomentumShares U.S. Quantitative Momentum ETF (BATS: QMOM), which began trading today on BATS Exchange.
The MomentumShares U.S. Quantitative Momentum ETF invests primarily in U.S. equity securities that the Adviser believes has positive momentum.
MomentumShares is advised by Alpha Architect, an SEC-registered investment firm that seeks to design affordable, active-management strategies for ETFs and Separately Managed Accounts.
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Source: BATS Global Markets, Inc.
State Street launches fossil fuel-free ETF, cites climate worries
December 2, 2015--State Street Corp's asset management arm on Wednesday launched its first fossil-fuel free exchange-traded fund, citing investors' concerns over climate change.
The ETF is among the first of its kind offered in the United States, as climate activists encourage mainstream investors to steer clear of oil, gas and coal stocks.
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Source: Reuters
ETF Research Center-Sector SPDR Analyzer+Equal Sector Weight ETF-December 2015
December 2, 2015--The monthly update on each of the eleven Select Sector SPDRs plus the ALPS Equal Sector Weight ETF is now available.
view the ETF Analyzer Sector SPDR edition December 2015
view the ETF Analyzer ALPS Equal Sector Weight (EQL) as of November 30, 2015
Source: Etfresearchcenter.com
CFTC.gov Swaps Report Update
December 2, 2015--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Yellen says no set plan for pace of rate hikes
December 2, 2015--Federal Reserve Chair Janet Yellen said there is no set plan for how steadily to raise U.S. interest rates once the initial hike is approved.
The Fed is expected to approve its first rate hike in a decade at a meeting in two weeks, and focus has begun turning to how quickly or slowly the central bank may enact subsequent rate increases. Fed officials in general have said the pace of hikes will be "gradual."
SPDR Spotlight-Why Fossil Fuel Free Investing is Gaining Momentum
December 1, 2015--Why Fossil Fuel Free Investing?
A growing number of endowments, pension funds and other institutions are adapting their investment portfolios to accommodate for the risks associated with climate change. Concerned about the impact of rising global temperatures on the environment,
more investors are focusing on low carbon investing and eliminating fossil fuels from their portfolios
Aside from environmental motivations, the sustainability of fossil fuels
as a viable energy source in the long-run is coming into question amid more potential competition from alternative energy sources and changing carbon-restrictive regulations that from an investment standpoint, threaten turning certain of companies' fossil fuel reserves into "stranded assets," resulting in negative impact for their balance sheets and valuations.
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Source: State Street Global Advisors
ProShares Names Richard Morris General Counsel
December 1, 2015--ProShares, a premier provider of ETFs, today announced the appointment of Richard Morris as general counsel
He will report to ProShares Co-Founder and CEO Michael L. Sapir and serve on the company's executive management team.
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Source: ProShares
S&P Dow Jones Indices U.S. Equities Market Attributes November 2015
December 1, 2015--KEY HIGHLIGHTS
The S&P 500(R) increased 0.05% in November, bringing its YTD return to 1.04%.
The Dow Jones Industrial Average(R) returned 0.32% this month but was off 0.58% YTD.
The S&P MidCap 400(R) was up 1.18% for the month and 0.65% YTD.
The S&P SmallCap 600(R) returned 2.52% in November, bringing its YTD return to 1.68%.
MARKET SNAPSHOT
Quarter point, quarter point, quarter point onward, into the valley of bears rode the mighty S&P 500, as a rate increase of 0.25% in December became the battle cry, even as the youngest of them had traded not for the last (June 2006).
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Source: S&P Dow Jones Indices
