Americas ETP News
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UBS Settles Charges Related to Investments in Complex Exchange-Traded Product
July 19, 2021--More Than $8 Million Returning to Harmed Investors as Part of Ongoing Risk-Based Initiative
The Securities and Exchange Commission today filed a settled action against UBS Financial Services Inc. for compliance failures relating to sales of a volatility linked exchange-traded product (ETP). This is the sixth matter arising from the Enforcement Division's ETP Initiative.
As described in the SEC's order, the ETP at issue is designed to track short-term volatility expectations in the market as measured against derivatives of a volatility index. According to the order, the issuer of the product warned UBS that it was not appropriate to hold the product for extended periods, and the product’s offering documents made clear that the product was more likely to decline in value when held over a longer period. The order finds that UBS prohibited brokerage representatives from soliciting sales of the product and placed other restrictions on sales of the product to brokerage customers, but did not place similar restrictions on certain financial advisers' use of the product in discretionary managed client accounts.
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Source: SEC.gov
FTSE Russell to review $9tn US index shake-up
July 19, 2021-- FTSE Russell has launched an internal review into the rebalancing frequency of its widely followed family of US stock indices.
Massive concentration of trading around rebalancing prompts rethink.
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Source: FT.com
SS&C ALPS Advisors Adds Active Large-Cap Value ETF to the Lineup
July 16, 2021-The ALPS|Hillman Active Value ETF invests in stocks of large U.S. companies which the Fund's managers believe have sustainable competitive advantages and may be temporarily undervalued by investors
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that SS&C ALPS Advisors, an asset manager and wholly-owned subsidiary of SS&C, launched the ALPS|Hillman Active Value ETF (HVAL), an active large-cap value ETF.
"ALPS Advisors is recognized for innovation and that continues with our Hillman Capital partnership," said Laton Spahr, President of SS&C ALPS Advisors. "Bringing the strategy to market as an ETF may provide additional benefits and broadens access to the great tradition of Hillman Capital."
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Source: SS&C / ALPS Advisors
Demand for loan ETFs 'skyrockets' as inflation worries intensify
July 16, 2021--Demand for exchange traded funds investing in senior loans has rocketed this year as investors hunt for respite from rising inflation.
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Source: ft.com
Renaissance Capital Greenwich Funds files with the SEC-Renaissance IPO ETF
July 15, 2021-Renaissance Capital Greenwich Funds has filed a Form 497K-Summary Prospectus with the SEC for the Renaissance IPO ETF.
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Source: SEC.gov
Goldman Sachs Asset Management Announces Launch of Goldman Sachs Future Planet Equity Exchange-Traded Fund
July 15, 2021--Goldman Sachs Asset Management today announced the launch of the Goldman Sachs Future Planet Equity ETF ("GSFP" or the "Fund"). GSFP is the first transparent, actively managed equity ETF launched by Goldman Sachs and expands the firm's existing suite of thematic ETFs designed to help investors position their portfolios on the right side of disruption by providing focused exposure to long-term secular growth trends.
Goldman Sachs intends to invest in the Fund alongside its clients.
"Rapid change is disrupting the status quo across industries and around the world. We believe we are on the cusp of a sustainability revolution that could have the scale of the industrial revolution and the speed of the digital revolution. In our view, this may give rise to a unique wealth creation opportunity for investors over the next decade," said Katie Koch, co-head of the Fundamental Equity business within Goldman Sachs Asset Management.
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Source: Goldman Sachs Asset Management
Goldman Sachs Asset Management Announces Launch of Goldman Sachs Future Planet Equity Exchange-Traded Fund
July 15, 2021--Goldman Sachs Asset Management today announced the launch of the Goldman Sachs Future Planet Equity ETF ("GSFP" or the "Fund"). GSFP is the first transparent, actively managed equity ETF launched by Goldman Sachs and expands the firm's existing suite of thematic ETFs designed to help investors position their portfolios on the right side of disruption by providing focused exposure to long-term secular growth trends.
Goldman Sachs intends to invest in the Fund alongside its clients.
"Rapid change is disrupting the status quo across industries and around the world. We believe we are on the cusp of a sustainability revolution that could have the scale of the industrial revolution and the speed of the digital revolution. In our view, this may give rise to a unique wealth creation opportunity for investors over the next decade," said Katie Koch, co-head of the Fundamental Equity business within Goldman Sachs Asset Management.
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Source: Goldman Sachs Asset Management
Goldman Sachs Asset Management Announces Launch of Goldman Sachs Future Planet Equity Exchange Traded Fund
July 15, 2021--Goldman Sachs Asset Management today announced the launch of the Goldman Sachs Future Planet Equity ETF ("GSFP" or the "Fund").
GSFP is the first transparent, actively managed equity ETF launched by Goldman Sachs and expands the firm's existing suite of thematic ETFs designed to help investors position their portfolios on the right side of disruption by providing focused exposure to long-term secular growth trends.
Goldman Sachs intends to invest in the Fund alongside its clients.
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Source: Goldman Sachs Asset Management
US regulator under fire for delays to delisting Chinese stocks
July 15, 2021--Companies that do not comply with US audit rules could keep New York listing as late as 2025
Pressure is being put on the U.S. Securities and Exchange Commission to finalize regulations to delist Chinese companies that do not comply with U.S. auditing standards, after lawmakers found that the agency might not start law enforcement until 2025 at the earliest.
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Source: ft.com
SEC Further Delays WisdomTree Bitcoin ETF Decision
July 14, 2021--The U.S. Securities and Exchange Commission (SEC) pushed a decision on WisdomTree's bitcoin exchange-traded fund (ETF) application to the autumn.
In a Tuesday order launching proceedings on whether or not the agency should approve the application, the SEC asked for feedback from the general public and industry experts on the WisdomTree application and whether the ETF would be a safe product for investors.
Comments must be submitted within three weeks of the document's publication in the Federal Register' the national logbook' with rebuttals filed within seven weeks.
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Source: coindesk.com
