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December 31, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  • Investors urge SEC to take action against insider trading
    Pension funds and other institutional investors managing more than $3 trillion in assets called on the U.S. Securities and Exchange Commission to adopt guidance aimed at preventing corporate executives from engaging in abusive insider trading. Jeff Mahoney, the Council of Institutional Investors' general counsel, wrote in a letter to SEC Chairman Elisse Walter that new guidelines are "essential to restoring public confidence with respect to purchases and sales of a company's securities by its insiders." The Wall Street Journal (12/30) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Wirehouses aim to get back market share in 2013
    Wirehouses have been losing business to independent financial advisers, regional firms and smaller financial companies for several years. For 2013, the big investment firms plan to make a serious effort to get back some of the assets they have lost of rivals. (12/31) LinkedInFacebookTwitterEmail this Story
  • Poll: Financial services industry needs to restore integrity
    A survey of CFA Institute members found that 40% -- an increase of 6 percentage points over last year's poll -- expect the global economy will grow in 2013. However, respondents of the CFA Institute 2013 Global Merket Sentiment Survey said the financial services industry needs to work on restoring market integrity. “There is mounting optimism around global economic growth from both investors and the financial industry, despite ongoing issues like the European sovereign debt crisis and significantly greater concern about mis-selling,” Kurt Schacht of the CFA Institute said. Financial Advisor (12/2012) LinkedInFacebookTwitterEmail this Story
  • Analysis: SEC gives actively managed ETFs a boost
    Investors and money managers got a gift earlier this month from the Securities and Exchange Commission, which lifted some restrictions on actively managed exchange-traded funds. "This definitely gives a money manager more flexibility and more options in shaping a portfolio," Morningstar analyst Robert Goldsborough said. The Wall Street Journal (12/28) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  People & Personalities 
  • Hillary Clinton admitted to New York hospital
    Secretary of State Hillary Clinton was admitted to New York-Presbyterian Hospital after doctors discovered a blood clot during a medical exam. Clinton could be in the hospital longer than the two days originally ordered by her doctors, depending on the location of the clot, a medical expert said. Daily News (New York) (12/31) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • Bernanke's policies more of a threat than "fiscal cliff"
    Columnist William Cohan argues the real threat to the economy isn't the "fiscal cliff" but the policies of Federal Reserve Chairman Ben Bernanke, namely the promise to keep interest rates near zero until the unemployment rate is lowered to 6.5%. Cohan says the prospect of that happening could take years and result in another financial crisis. The Washington Post (12/28) LinkedInFacebookTwitterEmail this Story
  Financial Products 
  • SSgA readies 6 actively managed ETFs for launch
    State Street Global Advisors filed with the Securities and Exchange Commission for approval of six actively managed equities exchange-traded funds. The funds are the SPDR SSgA Risk Aware ETF, SPDR SSgA Large Cap Risk Aware ETF, SPDR SSgA Small Cap Risk Aware ETF, SPDR MFS Systematic Core Equity ETF, SPDR MFS Growth Equity ETF and the SPDR MFS Systematic Value Equity ETF. (12/27) LinkedInFacebookTwitterEmail this Story
  Editor's Note 
  • SmartBrief will not publish Tuesday
    In observance of New Year's Day, SmartBrief will not publish Tuesday. Publication will resume Wednesday. Enjoy the holiday! LinkedInFacebookTwitterEmail this Story
Never tell your resolution beforehand, or it's twice as onerous a duty."
--John Selden,
English jurist and scholar

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