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April 25, 2012
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Daily newsletter from NYSSA for investment professionals

  Top Story 
  Industry Update 
  • FINRA plans to raise certain brokerage fees
    The Financial Industry Regulatory Authority suffered a "significant loss" in 2011 and is planning to increase some of the fees it levies on brokerages, according to an e-mail that Chairman and CEO Richard Ketchum sent to brokerages. Reuters (4/24) LinkedInFacebookTwitterEmail this Story
  • PBS documentary looks into birth of CDS
    PBS is in the midst of airing a four-part documentary on the global financial crisis. The first two parts, which aired Tuesday, rehash the crisis, starting with the history of credit derivatives and finishing with the bank rescues in late 2008. The trailer for the series suggests the documentary will build a case that the financial system is on the brink of another disaster. PBS (4/24), The Huffington Post/The Blog (4/24) LinkedInFacebookTwitterEmail this Story
  • SEC warns investors to beware of pre-IPO scams
    The Securities and Exchange Commission posted an alert on its website warning investors about fraudulent share offerings of hot technology companies before their initial public offerings. The SEC noted that genuine pre-IPO share offerings are typically limited to sophisticated investors. Reuters (4/24) LinkedInFacebookTwitterEmail this Story
  • Dodd-Frank Act arguments now encompass deficit reduction
    Bipartisan disagreements over the financial industry ramifications of the Dodd-Frank Act have expanded to include debate over how best to reduce the federal deficit. More than half the Democrats on the committee signed a written dissent to a Republican proposal to repeal a Dodd-Frank provision to cut what they claim will be $30 billion over 10 years from the federal deficit. (subscription required) (4/24) LinkedInFacebookTwitterEmail this Story
  • Other News
  New York Focus 
  Career Development 
  • Executives offer insights on managing millennials
    Millennials bring innovative ideas and technological savvy to the workplace, but often overestimate their abilities and resist performing low-level tasks, executives said at the University of Maryland's Robert H. Smith School of Business. Several executives detailed their retention strategies, which included online-learning programs and flexible work options. The Washington Post (4/22) LinkedInFacebookTwitterEmail this Story
  People & Personalities 
  • HighTower's Weissbluth changes conversation on Wall Street
    Investment Advisor has published its annual list of the most influential people for financial advisers, leading with a profile on Elliot Weissbluth of HighTower. Weissbluth, who founded HighTower five years ago, is someone who has altered the conversation on Wall Street and about the broader financial industry. “The old dialogue, which was ‘independent good; Wall Street bad,’ was never an intellectually honest discussion. There’s tremendous value and innovation on Wall Street," Weissbluth said. AdvisorOne (4/24) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • Big U.S. manufacturers demonstrate new strength, higher earnings
    Some of the biggest industrial companies in the U.S., led by 3M, posted higher-than-expected earnings and raised their second-half outlooks, adding to indicators that point to a building manufacturing rebound. Analysts said manufacturers' forecasts of significantly higher sales this year are credible because they are customarily based on orders already on the companies' books for products with long lead times. Reuters (4/24), CNNMoney (4/24), The Edmonton Journal (Alberta) (4/24) LinkedInFacebookTwitterEmail this Story
  • Other News
  Financial Products 
  • Global X aims to launch asset-allocation ETF targeting risk
    Global X Funds filed with the Securities and Exchange Commission to introduce an exchange-traded fund that would invest in a wide range of assets, with the objective of managing risk. The Global X Risk Parity ETF would overweight low-risk investments and underweight high-risk investments. (4/23) LinkedInFacebookTwitterEmail this Story
  Featured Content 

Opportunity is missed by most people because it is dressed in overalls and looks like work."
--Thomas Edison,
American inventor

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