Most Clicked SIFMA SmartBrief Stories

1. FINRA's Ketchum raises concerns about Labor's fiduciary proposal

SIFMA SmartBrief | May 28, 2015

A Labor Department plan to impose stricter standards on brokers who give advice on retirement accounts, is "not the way to go," said Richard Ketchum, chairman and CEO of the Financial Industry Regulatory Authority. The Obama administration's plan "would leave enforcement entirely to investors who feel they're wronged," he said. Read Ketchum's remarks. Read SIFMA's statement. InvestmentNews (free registration) (05/27) Reuters (05/28) (U.S.) (05/27)

2. Fed's massive bond portfolio has market participants anxious

SIFMA SmartBrief | May 27, 2015

Asset managers are concerned about how the Federal Reserve will dispose of $4 trillion in bonds it has accumulated through quantitative easing. Financial Times (tiered subscription model) (05/26)

3. SEC approves dealer post-trade reporting requirements

SIFMA SmartBrief | May 28, 2015

Rules approved by the Securities and Exchange Commission will require dealers to report new post-trade information through the Municipal Securities Rulemaking Board's Real-Time Transaction Reporting System. SIFMA and other groups expressed concerns about burdens, but the SEC cited a long implementation period. The data reporting requirements take effect in May 2016. Read SIFMA's comment letter. The Bond Buyer (special access for readers of SIFMA SmartBrief) (05/27)

4. 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)

5. 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)

6. 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)

7. 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)

8. Goldman Sachs hires former FBI agent

SIFMA SmartBrief | May 27, 2015

Goldman Sachs Group has hired Patrick Carroll, a former FBI agent who investigated Bernard Madoff and used wiretaps in insider-trading cases, for its compliance, surveillance and strategy group. Bloomberg (05/26)

9. Investment managers look to corporate-bond market to create alpha

SIFMA SmartBrief | May 27, 2015

Investment managers finding it difficult to outperform benchmarks because of near-zero interest rates and central bank policies are turning to the corporate-bond market. Outstanding U.S. corporate debt went from $5.9 trillion in 2009 to $7.8 trillion at the end of 2014, SIFMA says. Bloomberg (05/26)

10. BlackRock CEO: Low interest rates create structural problems

SIFMA SmartBrief | May 28, 2015

Pension funds and insurers are being harmed by low interest rates intended to boost global economic growth, said Larry Fink, BlackRock's chairman and CEO. Companies are "having more structural problems than ever before" in meeting rising liability without sufficiently yielding assets, he said. Reuters (05/27)

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