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December 14, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  Industry Update 
  • FSOC considers Fed supervision of money-market funds
    The Financial Stability Oversight Council, chaired by Treasury Secretary Timothy Geithner, discussed the possibility of placing money-market mutual funds under Federal Reserve regulation. Treasury Department spokeswoman Suzanne Elio said the council discussed a provision of the Dodd-Frank Act that would let it designate money funds "or their sponsors or advisers for Federal Reserve supervision and enhanced prudential standards." Bloomberg (12/13), Reuters (12/13) LinkedInFacebookTwitterEmail this Story
  • Advisers have had it with money-market funds
    Between low yields and uncertainty about government regulations regarding a floating NAV and other proposals, advisers have grown frustrated with money-market funds. Many financial advisers have started reducing their reliance on the vehicles and seeking out alternatives, mainly certificates of deposit and online savings accounts. The Wall Street Journal (12/13) LinkedInFacebookTwitterEmail this Story
  • Commentary: Rep. Hensarling plans to regulate the regulators
    Columnist Stephen Moore writes that Rep. Jeb Hensarling, incoming chairman of the House Financial Services Committee, sees his position as regulating the various financial regulatory agencies, including the Securities and Exchange Commission. Hensarling also noted his top priorities, which include resolving the "too big to fail" doctrine in the Dodd-Frank Act. Authorities must eliminate the "market perception that big banks are taxpayer-protected," Hensarling said. The Wall Street Journal (12/13) LinkedInFacebookTwitterEmail this Story
  • Other News
  New York Focus 
  • Senate set to begin work on Sandy aid bill
    Legislation to provide $60.4 billion to rebuild areas devastated by superstorm Sandy is starting to move through the Senate, where Republicans haven't said how they plan to respond to the measure. In the House, the staff of the Appropriations Committee has asked government departments for more information relating to funding requests. The Wall Street Journal/Metropolis blog (12/13) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • 12 steps to stress-free leadership
    Too many CEOs are stress-bunnies, writes Carole Spiers. To avoid burning out, it's important to stay focused, to make time for yourself and to learn to switch off whenever you get the chance. "Remaining disciplined, by managing both time and productivity well, is the key to good stress management," Spiers notes. Management-Issues (U.K.) (12/13) LinkedInFacebookTwitterEmail this Story
  People & Personalities 
  • CFTC's Gensler is driving force behind Libor crackdown
    Gary Gensler, chairman of the Commodity Futures Trading Commission, has emerged as a leader of the regulatory crackdown after allegations of manipulation of the London Interbank Offered Rate and other benchmark interest rates. "These rates are at the absolute core of our global financial system," Gensler said, adding that false reporting "goes to the integrity of markets and how much trust the public has in them." (12/13) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  Financial Products 
  • JPMorgan plans firewall between copper ETF and traders
    JPMorgan Chase told NYSE Arca that it would establish a firewall between a proposed exchange-traded fund investing in copper and the bank's metal traders, to prevent the release of nonpublic information, according to a filing with the Securities and Exchange Commission. The SEC is considering whether to allow the JPM XF Physical Copper Trust. Bloomberg (12/12) LinkedInFacebookTwitterEmail this Story
The best preparation for tomorrow is to do today's work superbly well."
--William Osler,
Canadian physician

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