| News on the capital markets, securities and financial industry |  |
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| Industry News | | |
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- Bond covenants weaken as demand rises, Moody's says
Increasing demand for high-yield bonds is prompting a corresponding decline in the quality of protective covenants that investors will accept, according to Moody's Investors Service. "There is so much demand that issuers have more flexibility to weaken their covenant package," said Alexander Dill, head of covenant research. The broader worry is a possible bubble in the market. Financial News Online (U.K.) (subscription required)
(11/19)      
- Judge dismisses Greenberg's AIG suit against N.Y. Fed
A U.S. district judge in New York dismissed a case Monday against the Federal Reserve Bank of New York. Former American International Group CEO Maurice "Hank" Greenberg sued the Fed for $25 billion claiming that it broke the law when it rescued the insurer during the 2008 financial meltdown. As a major AIG shareholder, Greenberg lost a lot of money because of the bailout. Reuters
(11/19)
- Obama confers with Dimon and Buffett about "fiscal cliff"
President Barack Obama consulted over the weekend with corporate leaders, including investor Warren Buffett and JPMorgan Chase CEO Jamie Dimon, about avoiding the U.S. "fiscal cliff." Both business leaders support the president's call to increase tax rates for the wealthy, but Dimon was critical about waiting so long to start talks about the fiscal cliff. Reuters
(11/19)
- SEC ramps up oversight of exchanges
The Securities and Exchange Commission is responding to technological advancements and other changes in trading by expanding its examinations of how new products are developed by exchanges. The move comes amid concerns that some order types give high-frequency traders an unfair advantage. The Wall Street Journal
(11/19)
 | Experience the Benefits of Consolidation
Learn how you can enhance your level of client service and simplify your day-to-day activities by transferring your clients' existing directly held mutual fund positions, 529 plan accounts, annuity policy information and other outside assets into a brokerage account on the Pershing platform. Learn more. |
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| Asset/Wealth Management Report | | |
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- Investors seek better alternative-investment reporting
Use of alternative investments is increasing, and financial advisers, as well as other entities offering investment guidance, are facing pressure to produce client statements more quickly and accurately and with more detail. One solution is for advisers to use a data-aggregation service. AdvisorOne
(11/19)
 | LEI Seminar — Implementing a Global LEI Framework
Learn about the key issues that will influence and shape the future of a global standard for legal entity identification standardization going forward at the joint SIFMA-GFMA: LEI Seminar - Implementing a Global LEI Framework - Dec. 12. Register today. |
| SIFMA News | | |
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- SIFMA 2013 Securitization Outlook Conference -- Dec. 6 -- New York City
Attending SIFMA's 2013 Securitization Outlook Conference will be your opportunity to hear the near-term outlook for the housing markets, how the housing market will continue to recover, and ask the questions that must be addressed as we develop the nation's new system of housing finance. FHFA Acting Director Edward DeMarco will keynote this half-day program and provide his insight on the outlook for agency and non-agency MBS markets in 2013. DeMarco will be joined by CFPB Deputy Director Raj Date
and several industry experts who will examine issues central to securitization, including the regulatory and
market outlook for private-label securitization markets and the latest proposals to use eminent domain to seize underwater mortgage loans.
- Video: SIFMA Foundation recognizes top student achievers in financial education
For more than 35 years, the SIFMA Foundation has dedicated itself to fostering knowledge and
understanding of the financial markets for individuals of all backgrounds. During an awards presentation at SIMFA's 2012 Annual Meeting and the SIFMA Foundation Tribute Dinner, winners from this year's Stock Market Game and InvestWrite Challenge discussed their strategy and experience from participating in SIFMA Foundation's signature financial education programs. Check out video from the ceremony.
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