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15 March 2013
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  • Congress works on tax-code overhaul
    Bipartisan work on a comprehensive overhaul of U.S. tax law got under way in the Senate Finance Committee with Democrats and Republicans agreeing on one issue: The economy would benefit from eliminating tax breaks worth tens of billions of dollars, they said. They disagree, however, on what to do with the money saved. The Washington Post (14 Mar.) LinkedInFacebookTwitterEmail this Story
  • Senate report criticizes JPMorgan risk management
    A Senate Permanent Subcommittee on Investigations report on JPMorgan Chase's derivatives-trading losses is critical of the bank's risk oversight and regulators that permitted the trades. The case "provides a startling and instructive case history of how synthetic credit derivatives have become a multibillion-dollar source of risk within the U.S. banking system," according to the report. CNBC (14 Mar.), Reuters (14 Mar.), The Wall Street Journal (14 Mar.) LinkedInFacebookTwitterEmail this Story
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  Market Activity 
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  • Analysis: Outside Washington, America solves its problems
    While the dysfunctional federal government in Washington, D.C., stumbles from one crisis to the next, entrepreneurs, inventors and state governments beyond the District of Columbia are starting to deal with the nation's serious competitive challenges, according to The Economist. "Businesses and politicians are not waiting for the federal government to ride to their rescue. Instead ... they are getting to grips with the failings Congress is ignoring," the magazine notes. The Economist (tiered subscription model) (16 Mar.) LinkedInFacebookTwitterEmail this Story
  • Survey: Financial advisers help alleviate retirement stress
    Concerns about retirement are a source of anxiety and stress for 73% of Americans, but the figure is much lower for people who work with a financial adviser, according to a survey by Franklin Templeton. Among those who have worked with an adviser to develop a retirement strategy, 58% are at ease with the amount of income that Social Security will replace and 55% are confident about the income they will receive from an employer-sponsored retirement plan. AdvisorOne (14 Mar.) LinkedInFacebookTwitterEmail this Story
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  • EU's tougher rules for OTC derivatives begin
    Starting Friday, EU banks and other firms that deal in over-the-counter derivatives will have to report more information to trade repositories, including the value of contracts and related collateral. "The complexity of these new obligations, and the short timeframe" mean "many firms just aren't ready for [the] deadline," Crispian Lord of PricewaterhouseCoopers wrote in an e-mail. Bloomberg (14 Mar.) LinkedInFacebookTwitterEmail this Story
  • U.K. lawmakers want regulator to focus on prop trading
    Britain's Parliamentary Commission on Banking Standards is encouraging the Prudential Regulation Authority to discourage -- but not ban -- proprietary trading at deposit-taking banks. "The immediate risk to U.K. banking standards from proprietary trading may be limited," commission Chairman Andrew Tyrie said. "However, effective regulatory oversight will be particularly important for the future. At a time when banks are under less intense scrutiny, proprietary trading could re-emerge as a greater risk." Reuters (14 Mar.), The Wall Street Journal/Dow Jones Newswires (14 Mar.) LinkedInFacebookTwitterEmail this Story
CFA Institute: 2013 Asset and Risk Allocation
15-16 April 2013
Grand Hyatt New York
New York, New York, United States

Hosted with the New York Society of Security Analysts

Register by 18 March 2013 and save US$200.
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