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January 30, 2012
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News on the capital markets, securities and financial industry

  Morning Bell 
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  • Bankers are most concerned about economic downturn, survey finds
    The Centre for the Study of Financial Innovation released a study showing that bankers' No.1 concern is macroeconomic risk. Bankers are worried that another recession would cause more losses from troubled loans and the collapse of more financial institutions. "The fragility of the world economy with the possibility of a return to recession poses the greatest risk to the banking industry in these turbulent times," the centre said. "The picture painted by this survey is unquestionably the bleakest we have seen in more than 15 years." Bloomberg (1/29) LinkedInFacebookTwitterEmail this Story
  • Industry is split on whether REO rental program would work
    At a recent industry conference, participants discussed the idea of a public-private investment program for renting foreclosed homes backed by Fannie Mae and Freddie Mac. The idea was popular, but some insiders raised concerns. Barclays Capital representatives, for example, said implementing the program would be too difficult. Housing Wire (1/27) LinkedInFacebookTwitterEmail this Story
  Washington Roundup 
  • Bank of Canada's Carney voices concerns about Volcker rule
    Mark Carney, governor of the Bank of Canada and chairman of the Financial Stability Board, said the Volcker rule could hinder market efficiency. "I am speaking from my perspective at the Bank of Canada," Carney said. "We and other officials in Canada have looked at the current draft of the Volcker rule, and we have some obvious concerns." Carney said there is a risk that the rule will prevent banks from purchasing securities as they conduct trades for customers. "It is not clear the definition of 'market making' versus 'proprietary trade'," he said. See SIFMA's Volcker Rule Resource Center, including two recent studies on the impact of the proposed rule. Bloomberg Businessweek (1/30) LinkedInFacebookTwitterEmail this Story
  • SEC dismisses case against former bank general counsel
    The Securities and Exchange Commission dropped a case against Theodore Urban, former general counsel of investment bank Ferris Baker Watts, which is now part of RBC Wealth Management. The SEC had said Urban did not adequately supervise a rogue broker. Securities industry compliance professionals were concerned that the case might redefine the SEC's definition of "supervisor" in the industry. Reuters (1/27), (1/30), InvestmentNews (free registration) (1/27) LinkedInFacebookTwitterEmail this Story
  • FINRA says all-public arbitration panels are popular
    The Financial Industry Regulatory Authority has been letting investor plaintiffs exclude industry representatives from arbitration panels for about a year now. The program has been popular and could end calls to do away with mandatory arbitration. InvestmentNews (free registration) (1/29) LinkedInFacebookTwitterEmail this Story
  • Other News
  Asset/Wealth Management Report 
  • Financial advisers pin revenue hopes on attracting new clients
    Financial advisers, who know it will be difficult to make more money from existing clients in 2012, are focusing on adding many clients, according to a survey by account-aggregation firm ByAllAccounts. This year, 46% of advisers each plans to attract 16 new clients, the survey found. Registered Rep. (1/25) LinkedInFacebookTwitterEmail this Story
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  SIFMA News 
  • SIFMA Quarterly Survey finds net Treasury bill, note, and bond issuance on the rise
    Just released: the SIFMA Quarterly Government Securities Issuance and Rates Forecast for Q1 2012 is forecasting Treasury bill, note, and bond issuance to increase to $365.3 billion in the first quarter of 2012, 17.8 percent above the net $310.0 billion issued in Q4 2011. The survey, which canvasses trading strategists and research analysts at SIFMA member firms who specialize in the U.S. government securities markets, was conducted Jan. 9 to 17. Read this survey and explore our other SIFMA Research reports. LinkedInFacebookTwitterEmail this Story
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