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Challenges, Wide-Ranging Effects Seen for LIBOR Phase-Out
SEC Chairman Jay Clayton was among several speakers at a recent eventfocused on reference rate reform, including what the phasing out of LIBOR from the global financial system means for companies and...
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SEC asks Exchanges to Revisit Market Data Access Fees
The SEC recently issued a decision that concluded the NYSE Arca, Inc. and Nasdaq Stock Market LLC had not met their burden to show that certain fees the exchanges charged for data used to measure...
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MFDF Webinar: 2018 Elections: Outcomes and Impacts for 2019
Tim Jenkins and Shelby Hagenauer of Nossaman LLP will discuss the 2018 elections and how the outcomes will affect the regulatory and legislative agenda in 2019, with an emphasis on developments that...
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SEC Proposes Simplified Disclosure Document for Variable Products
The SEC released a proposal designed to improve and simplify disclosures about variable annuities and variable life insurance contracts. The proposed summary prospectus aims to help investors better...
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More Bank Scrutiny, Sharper Consumer Finance Focus Expected from New Congress
According to Bloomberg and other media reports, big banks like Wells Fargo can expect to see more stringent oversight and possibly greater penalties for wrongdoing in the wake of the mid-term election...
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Victory Touts Benefits of USAA Acquisition
Victory Capital Holdings plans to purchase USAA Asset Management Company, including its mutual fund and ETF businesses and USAA 529 College Savings Plan, in an $850 million deal, the companies...
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SEC Releases FY2018 Enforcement Report as Data is Scrutinized
A lengthy report in the New York Times scrutinized the SEC’s Division of Enforcement’s record during the Trump Administration. The report, which analyzed enforcement actions initiated from May 18,...
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SEC Conducting Crypto Sweep Among Advisers, Report Says
According to a report in Politico, the SEC is currently undertaking a sweep of investment advisers to seek out violations related to the custody rules, valuation and cybersecurity. Politico reported...
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Securities Lending by Funds at Highest Level in Decade
Reuters is reporting that global asset managers generated $6 billion in revenue loaning out stocks and bonds during the first half of 2018. The report says securities lending by funds has reached a...
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OCIE to Focus on Board Oversight Processes in Adviser Exam Initiative
The SEC’s Office of Compliance Inspections and Examinations issued a risk alert, announcing a series of examination initiatives focused on mutual funds and exchange-traded funds, specific business...
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SEC Roundtable Seeks Fixes for Complex, Antiquated Proxy Voting System
New SEC Commissioner Elad Roisman encouraged participants at the recent SEC Staff Roundtable on the Proxy Voting Process to submit their data and comments to the SEC, acknowledging that the current...
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SEC Staff Urge Disclosure on Brexit, LIBOR Phaseout, Cybersecurity
SEC Chairman Jay Clayton at a recent conference said he believes the potential impact of Brexit has been understated and urged firms to look at the Brexit issue closely and share their views with...
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Salary, Job Cuts Increase as Asset Managers Pare Expenses
The Wall Street Journal reports that PIMCO is among asset managers warning employees that their pay could remain flat as 2018 comes to a close. According to the report, increasing competition and...
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MFDF Webinar: Accounting, Tax and Center for Board Matters Updates
Please join experts from Ernst & Young as they present this webinar, focused on current updates in the audit and tax spaces specific to mutual funds. There will also be an update presented from the...
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Fidelity CEO in Bloomberg Interview Talks Fees, Technology, Industry Trends
In an in-depth interview with Bloomberg Markets, Fidelity chief executive Abigail Johnson and Kathleen Murphy, head of Fidelity’s personal investing division, discussed the rationale behind Fidelity’s...
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Paper Links Reduced Flows to Excess Load Funds to DOL Rule
A research paper from Morningstar examines how payments to brokers drive fund flows and affect investor returns. The researchers reached a number of conclusions, including that the DOL Fiduciary Rule,...
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SEC Whistleblower Office Reports Increased Tips in FY2018
The SEC reports that it received over 5,200 whistleblower tips in FY 2018, the highest increase in tips since the beginning of the program and a nearly 76 percent increase since FY 2012. In its annual...
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Paper Compares Compliance, Legal Officer Roles and Sees Broader Reach for CCO
A recent academic paper from Tamar Frankel, Professor of Law Emerita at Boston University, explores the roles of the compliance officer and legal officer in the corporation. The paper while it does...
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MFDF Webinar: An Update on Mutual Fund Valuations – Latest Trends and...
During this webinar, Paul Kraft, a Deloitte partner and US Mutual Fund & Investment Management Practice Leader, will discuss the observations from the 16th Annual Deloitte Fair Valuation Survey...
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Financial Firms to Boost Spending on Cybersecurity
A Bloomberg report quoting a survey from a data security firm says U.S. banks and other financial firms are projecting higher spending on cybersecurity. The article cited a Thales eSecurity survey of...
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