Most Clicked SIFMA SmartBrief Stories


1. Lack of market liquidity is a top concern

SIFMA SmartBrief | May 21, 2015

Bank executives, hedge fund managers and investors are raising concerns about a lack of market liquidity. Executing big trades in the government-debt and foreign exchange markets has become increasingly difficult without affecting prices partly because banks are reluctant to make markets. SIFMA will hold a discussion on fixed-income liquidity on June 11 in NYC. Registration is now open. The Wall Street Journal (tiered subscription model) (05/20)


2. SEC votes to collect more info from asset managers

SIFMA SmartBrief | May 21, 2015

The Securities and Exchange Commission has voted unanimously on a proposal to increase data collected from the asset-management industry to improve risk assessment. The proposal calls for mutual fund firms to provide information, such as use of complex and possibly risky derivatives. The SEC also voted unanimously to propose a rule requiring bond funds to disclose how portfolios would be affected by changes in interest rates. Reuters (05/20) The Wall Street Journal (tiered subscription model) (05/20) Bloomberg (05/20)


3. Citigroup to sell forex businesses

SIFMA SmartBrief | May 26, 2015

Citigroup is selling its margin foreign exchange business to U.S.-based FXCM and the Denmark's Saxo Bank. The transaction includes CitiFX Pro and TradeStream. Terms of the deal were not disclosed. Reuters (05/22)


4. Revenue expected to fall in Q2 at major investment banks

SIFMA SmartBrief | May 20, 2015

Weaker revenue from bonds, commodities and currencies at global investment banks, accounting for seasonal differences, will cut the top line in the second quarter, according to an analysis by JPMorgan Chase. "We are witnessing a slowdown in investment banking revenues in the second quarter of 2015, potentially more than normal seasonality, driven by weakness in rates following a strong first-quarter 2015 performance," according to analysts. Bloomberg (05/19)


5. Young candidates for regulatory jobs hard to find, FINRA exec says

SIFMA SmartBrief | May 21, 2015

The Financial Industry Regulatory Authority is having difficulty finding young candidates for regulatory jobs, said Susan Axelrod, executive vice president of regulatory operations at FINRA. Speaking at SIFMA's NextGen seminar Wednesday, Axelrod said regulatory jobs call for knowledge of changing and complicated products and sometimes require road trips of up to six weeks. WealthManagement.com (U.S.) (05/20)


6. Fed might let banks use some munis to meet new rules

SIFMA SmartBrief | May 22, 2015

The Federal Reserve has proposed letting large banks use some municipal bonds to comply with liquidity requirements. However, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency have not signed on, so it's unclear how many large banks would be able to capitalize on the change. The Bond Buyer (free content) (05/21) The Wall Street Journal (tiered subscription model) (05/21) Reuters (05/21) Bloomberg (05/21)


7. Basel Committee's risk-calculation models face opposition

SIFMA SmartBrief | May 26, 2015

GFMA and other industry groups have written to the Basel Committee on Banking Supervision to say proposed risk models would increase financial-market instability and volatility. Meanwhile, the committee must persuade governments and regulators to enforce rules it has adopted because it lacks authority to penalize them. Read the groups' comment letter. Financial Times (tiered subscription model) (05/25) The Irish Times (Dublin) (05/26)


8. More compliance execs face securities-misconduct charges

SIFMA SmartBrief | May 21, 2015

More than a dozen chief compliance officers for investment advisers and broker-dealers were charged with violating securities rules in the second half of 2014, according to a study by Sutherland Asbill & Brennan. The data suggest U.S. regulators are focusing enforcement on internal watchdogs. MLex (subscription required) (05/19)


9. NYSE to launch midday auction to boost liquidity

SIFMA SmartBrief | May 26, 2015

The New York Stock Exchange is poised to become the latest high-profile bourse to launch an auction midday to help improve trading liquidity. Read SIFMA's comments on the initial proposal. Financial Times (tiered subscription model) (05/22)


10. Young candidates for regulatory jobs hard to find, FINRA exec says

SIFMA SmartBrief | May 26, 2015

The Financial Industry Regulatory Authority is having difficulty finding young candidates for regulatory jobs, said Susan Axelrod, executive vice president of regulatory operations at FINRA. Speaking at SIFMA's NextGen seminar Wednesday, Axelrod said regulatory jobs call for knowledge of changing and complicated products and sometimes require road trips of up to six weeks. WealthManagement.com (U.S.) (05/20)




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