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March 4, 2013
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  Industry Update 
  • Banks express concerns about consequences of regulations
    A Citigroup securities filing says a Dodd-Frank Act provision forcing overseas branches to comply with U.S. derivatives rules might cost the bank customers. Clients "have expressed an unwillingness to continue to deal with overseas branches of U.S. banks if the rules would subject them to these requirements," according to Citigroup. Meanwhile, Goldman Sachs says ring-fencing subsidiaries would force the bank to hold more capital. Bloomberg (3/1) LinkedInFacebookTwitterEmail this Story
  • Goldman continued to rein in risk last year
    Goldman Sachs Group's risk levels last year were the lowest they have been since 2005, and it saw no days with trading losses of $75 million or more. Goldman did, however, see the number of days with trading gains of at least $100 million decrease from 54 to 41. Reuters (3/1) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  • Rivera pokes Newark's Booker for tweets
    Television personality Geraldo Rivera jabbed at Newark, N.J., Mayor Cory Booker for turning to Twitter to mention his efforts to help others. Rivera and Booker have said they are considering running for the U.S. Senate seat that will be left vacant when Sen. Frank Lautenberg, D-N.J., retires at the end of his current term next year. The Star-Ledger (Newark, N.J.) (3/4) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • 10 steps that CEOs can take to create leaders
    Top leaders should constantly try to improve themselves and should set similar standards for their organization's other senior managers, Dan McCarthy writes. "A CEO's behaviors are powerful -- they set the expectations for the rest of the management team, creating a trickle-down effect of leadership development," McCarthy writes. SmartBrief/SmartBlog on Leadership (2/28) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • QE3 is going smoothly, Fed's Potter says
    The Federal Reserve's third round of quantitative easing hasn't disrupted the markets, says Simon Potter of the New York Fed. "So far, there seems to be little evidence that the current pace of purchases is straining the market's ability to deliver securities to us," Potter says. Reuters (3/1) LinkedInFacebookTwitterEmail this Story
  • Analysis: Jobs, salaries stagnate as corporate profits surge
    The Dow Jones industrial average rose to within 75 points of a record high last week, marking what has become a "golden age for corporate profit" while millions of Americans are still unable to find work, Nelson Schwartz writes. Corporate profits accounted for 14.2% of national income in the third quarter, the most since 1950. The portion of that income paid to workers was 61.7%, close to the lowest amount since 1966. The New York Times (tiered subscription model) (3/3) LinkedInFacebookTwitterEmail this Story
  Financial Products 
  • ALPS rolls out ETF linked to options index
    ALPS has introduced an exchange-traded fund that tracks the performance of an index of options on high-volatility stocks. The U.S. Equity High Volatility Put Write Index Fund is linked to the NYSE Arca U.S. Equity High Volatility Put Write Index. The index is designed to replicate the performance of put options on a group of highly volatile large-capitalization stocks. Zacks (3/1), Bloomberg (3/1) LinkedInFacebookTwitterEmail this Story
The man who insists upon seeing with perfect clearness before he decides, never decides. Accept life, and you must accept regret."
--Henri Frédéric Amiel,
Swiss philosopher, poet and critic

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