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January 30, 2013
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News on the capital markets, securities and financial industry

  Morning Bell 
  • Advisers gain business amid tougher retirement-plan rules
    Recent moves by the U.S. Labor Department to strengthen rules governing employer-sponsored retirement plans are bringing business to financial advisers, according to a white paper by Broadridge Financial Solutions. Employers are seeking out advisers who can help them understand and comply with the requirements. Many small-business owners are demanding that advisers assume fiduciary duty when they work on retirement plans, the paper says. InvestmentNews (free registration) (1/28) LinkedInFacebookTwitterEmail this Story
  Video View 
  • Starwood Capital CEO expects quiet 2013 for private equity
    Source: CNBC
    Starwood Capital Group Chairman and CEO Barry Sternlicht expects a slow year in private equity deals, but sees the industry turning toward real estate to provide them with the yield they are seeking. Sternlicht also discusses his thoughts on the initial public offering landscape. CNBC (1/29) LinkedInFacebookTwitterEmail this Story

  Industry News 
  • ILS and cat bonds had a historically strong 2012
    According to a Swiss Re report, insurance-linked securities and catastrophe bonds had their second biggest issuance year in history in 2012. The market saw a marked increase in investor demand as well as an increased demand for coverage to offset risk. This growth was achieved despite large tests such as superstorm Sandy, which the market handled in stride. Hear from featured speaker Haag Engineering's Meteorologist and Principal Engineer Tim Marshall and a program full of industry experts on what's in store for the ILS market in 2013 at SIFMA's Insurance- and Risked-Linked Securities Conference on March 5-6 in New York City. Artemis (1/29) LinkedInFacebookTwitterEmail this Story
  • BofA claims AIG ceded lawsuit rights in rescue
    Bank of America argued in federal court that American International Group no longer had the right to pursue fraud claims over mortgage-backed securities that the bank acquired from Countrywide Financial. BofA claimed that when AIG was forced to sell the securities to the government in its rescue package, it lost the right to sue. Bloomberg (1/29) LinkedInFacebookTwitterEmail this Story
  • Strategist: Economy is in better shape than reported
    While it may not be apparent from news reports, the fundamentals underlying the U.S. economy look remarkably good, Greg Valliere, Potomac Group's chief political strategist, said at a conference. Unemployment is set to fall to 7% by year's end, gross domestic product likely will rise 2.5% in the second quarter, there isn't a hint of inflation and interest rates are low, he said. (U.S.) (1/29) LinkedInFacebookTwitterEmail this Story
  Washington Roundup 
  • U.S. official will lead development of LEI program
    Matthew Reed, the U.S. Office of Financial Research's chief counsel, is expected to take on the role of leading the Regulatory Oversight Committee, which the Group of 20 nations has ordered to get the legal-entity identifier initiative up and running. "The LEI should provide financial companies and global financial regulators a better view of true exposures and counterparty risks across the world's financial system," according to the U.S. Treasury. Learn more at SIFMA's Legal Entity Identifier Resource Center. Reuters (1/29) LinkedInFacebookTwitterEmail this Story
  • No plan in sight to avert deep spending cuts in U.S.
    Severe, across-the-board U.S. government spending cuts are set to automatically take effect March 1 and lawmakers of both parties said there is little hope of averting them. Military spending will take a big hit, and some of the Pentagon's most vocal advocates are resigned to seeing the cuts implemented for now. The Washington Post (1/29) LinkedInFacebookTwitterEmail this Story
  Asset/Wealth Management Report 
  • DOL looks to improve benefit statements
    The Department of Labor plans to use the American Life Panel as well as other focus groups to assess whether information can be better presented in retirement plan benefit statements. The department is also seeking comments about those survey methods to assess their effectiveness. (1/28) LinkedInFacebookTwitterEmail this Story
SIFMA takes its next Social Media Seminar - West Coast to San Francisco on February 28th. Engage experts across multiple fields and explore the increasingly important issues our industry faces in light of the rapidly changing and growing tools of social media.
  SIFMA News 
  • Last call: SIFMA AML Workshops & Conference early-bird rates end tomorrow
    The robust program is now available! You can still register and take advantage of the early-bird rates before they expire tomorrow, Jan. 31. SIFMA's 13th Annual Anti-Money Laundering and Financial Crimes Workshops and Conference is the securities industry's premier events for anti-money laundering compliance and practices. Join us Feb. 26 and 27 and hear exclusive presentations from newly appointed FinCEN Director Jennifer Shasky Calvery, and OFAC Director Adam Szubin on their agendas for the upcoming year. Half-day workshops complement the main conference by providing practical guidance to financial services industry AML compliance requirements. The conference convenes leading experts from the industry, regulatory agencies and law enforcement to discuss the most recent developments in AML laws, and provides expert insights for implementing robust and effective compliance programs. LinkedInFacebookTwitterEmail this Story
  • AMF Workshop -- Innovation in Asset Management Operations -- Feb. 6 -- NYC
    Innovation is critical in today's fast-paced business environment. Register to learn how each of us can contribute to our own personal growth and development, and how we can be innovative leaders for the buy-side industry. This Asset Managers Forum Workshop is designed especially for operations professionals, will feature panel and roundtable discussions on: Operational Game Changers, The Future Landscape of Asset Management Operations, Central Clearing of Derivatives and more. Also join us the following day, Feb. 7, for our next AMF Member Meeting -- free for members! LinkedInFacebookTwitterEmail this Story
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Resentment is like taking poison and waiting for the other person to die."
--Malachy McCourt,
Irish-American actor, writer and politician

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