Industry News

 

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May 22, 2013

Why BOJ Was Right Not to Talk Up Bonds - 4:10 am

The Bank of Japan ended a two-day meeting on Wednesday, taking some market participants by surprise with a decision not to take any steps to ease heightened uncertainty in bond markets.

May 21, 2013

Labor Woes Jolt South African Assets - 10:15 pm

South Africa's currency stumbled to a four-year low and the country's bonds sold off, signs that escalating labor unrest is starting to outweigh the lure of high yields for many investors.

Ketchum suggests brokers falling short in discussing risk - 3:13 pm

Finra chief says fixed income, structured products demand straight talk to clients.

Pru's all-bond VA getting lukewarm reception - 1:26 pm

Not a ton of excitement but advisers intrigued by newfangled approach.

SandP Capital IQ expands analysis, ranking of bond ETFs - 12:55 pm

Criteria will include performance, credit quality, duration, yield, expense ratio

Central bankers turn deaf ear to warnings - 12:42 pm

Despite poor progress on reducing big deficits and debt, yields on US and UK government bonds fell and their currencies appreciated, says John Plender

LPL hit with largest Finra fine ever for e-mail case - 11:31 am

Finra on Tuesday slapped LPL with a $7.5M fine, its largest ever for an email-related case. The brokerage allegedly failed to adequately oversee 28 million electronic messages over a four-year period.

May 20, 2013

LPL $9M Settlement a Warning for Firms - 8:00 pm

After LPL Financial agrees to pay FINRA case, compliance expert says there's ‘no legitimate excuse' for email missteps.

FINRA CEO Ketchum: Work to Restore Investor Confidence Now - 8:00 pm

With markets at near historic highs, investor confidence still lags. Both regulators and financial firms share the responsibility to do something about it, said Richard Ketchum, CEO of FINRA on Tuesday.

Can 1994 Bond Collapse Repeat? - 8:00 pm

What will happen if 1994's sudden burst in interest rates repeats itself? That is the question being asked by industry overseers and by investors who want to protect their commitments to fixed-income investments after four years of historically low payouts. That year, interest rates on 10-year Treasury notes were hiked more than two points to nearly 8%. This jump slashed more than $600 billion from the value of U.S. bonds at a time when total market size…

New SIFMA CEO Says Dodd-Frank Rules Hastily Written, Not Fleshed Out - 8:00 pm

Former three-term Republican U.S. Senator Judd Gregg, the Securities Industry and Financial Markets Association's new chief executive officer, said Monday that he wants to improve the image of the industry and make sure Dodd-Frank rules are focused and not overly burdensome.

Wealthy Unprepared for Long-Term-Care Costs - 8:00 pm

Advisors have not done enough to prepare the majority of wealthy investors for long-term care costs and financial support for extended family, according to a study conducted by U.S. Trust, a unit of Bank of America.

The Takeaway: The weirdest pro-bond argument ever and#8212; and it kind of makes sense - 4:07 pm

Not even Gross, Gundlach immune to bond gloom - 2:21 pm

Inflows way down at flagship funds piloted by celebrated pair; when will the hammer fall?

SIFMA names two high-profile politicians to top posts - 1:59 pm

Gregg, Bentsen hired to lead securities industry group; want DOL to ditch fiduciary reform

May 19, 2013

Taking Charge of a Regulatory Examination - 8:00 pm

FINRA has increasingly put more firms on notice that they should expect their branch office doorbells to ring more often. In the past two years, FINRA has changed its approach when conducting examinations, favoring branch office inspections in lieu of the home office visits that it used to emphasize, said Susan Axelrod, executive vice president of regulatory operations at FINRA, at the self-regulatory organization's annual conference on Monday.

SIFMA Names Judd Gregg CEO - 8:00 pm

The Securities Industry and Financial Markets Association named former New Hampshire governor and U.S. senator Judd A. Gregg as its next chief executive officer. Gregg is known for advocating bipartisan approaches to balancing the national budget.

Gross, Buffett Wary of Credit Markets Success - 8:00 pm

Sales of corporate bonds in the U.S. are surging toward the busiest May ever as borrowers race to the market before demand dries up with Bill Gross and Warren Buffett cautioning against buying debt at all-time low yields.

Credit Suisse Mixes Bonds and Gold - 8:00 pm

Credit Suisse has filed with the SEC to launch the Gold and Income Strategy Fund, which will be available in institutional shares

IRS Acting Commissioner an Ally for Muni Market? - 8:00 pm

The municipal bond market may benefit from the shake-up at the Internal Revenue Service as the newly named acting commissioner Daniel Werfel has close ties with state and local governments and is viewed by market groups as a strong ally.

Advisors Missing Generational Shift? - 8:00 pm

A great wealth transfer may indeed be looming, but advisory firm executives are still focusing their creative energy on their boomer (and older) clients.

SEC's Walter Calls for Uniform Fiduciary Standard for Investment Industry - 8:00 pm

SEC Commissioner Elisse Walter endorsed a uniform fiduciary standard for all investment pros … then invited her audience to fight industry fraud and abuse by becoming whistleblowers

Trailing Production Prevails in Bank Advisor Pay - 8:00 pm

Bank advisors producing $120,000 in revenue had an average payout of 20% last year; those producing more than $2 million averaged 41%.

Advisors Hanging On to SEC Registration - 8:00 pm

Only about 2,100 SEC-registered investment advisors switched their registration to state oversight, according to the North American Securities Administrators Association -- roughly half the number that the SEC estimated would switch as a result of the Dodd-Frank Act.

FINRA Kicks Off Annual Conference - 8:00 pm

The Financial Industry Regulatory Authority will present the latest on fiduciary rules, enforcement and other issues affecting financial advisors at its annual three-day annual conference opening today in D.C.

House Passes SEC Cost-Benefit Analysis Bill - 8:00 pm

The House passed a controversial bill on Friday requiring the Securities and Exchange Commission to conduct additional economic analysis on its rules.