Americas ETP News
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CFTC's Division of Market Oversight Extends Existing Relief and Provides Additional Relief for Reporting Parties from Reporting Obligations as Required by the OCR Final Rule
September 25, 2017--The U.S. Commodity Futures Trading Commission's (CFTC) Division of Market Oversight (DMO) today issued a no-action letter (CFTC Staff Letter 17-45) that extends current relief and provides additional relief to reporting parties from reporting obligations as required by the ownership and control reports (OCR) final rule (OCR Final Rule).
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Source: CFTC.gov
CFTC looks to blockchain to transform how it monitors markets
September 25, 2017--Agency now struggling to manage data would be able to see firms' trading activities in real time-but plan would have to survive procurement process.
The Trump administration has promised to modernize the federal government's operations, aiming to run it more like a Silicon Valley technology giant.
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Source: Wall Street Journal
This Week in Active ETFs: Balance Sheet Reduction By Paper Cut
September 25, 2017--AdvisorShares Weekly Market Review-Week Ending 9/22/2017
Highlights of the Prior Week
Macro
The FOMC announced what the investment world already knew; it will start to reduce its greater than $4 trillion balance sheet, starting with $10 billion at a time.
Doing the math, it will take years before balance sheet is anywhere close to pre-crisis levels, which probably means it will never happen. Chair Yellen made it abundantly clear that the FOMC will step up in the face of an economic downturn and while the current expansion could last five or six more years, history is not on the side of that hope. Surprisingly, the committee also kept alive and well the expectation of another rate hike this year and the CME's Fedwatch Tool responded accordingly moving up to about a 70% chance of that December hike.
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Source: AdvisorShares
Thompson Hine-Advisers Must Offer Investors the Lowest-Fee Share Class Available
Investment Management Update
September 25, 2017--Key Notes:
Registered investment advisers have an affirmative duty to inform investors of the share classes with the lowest fees that those investors are eligible to own.
An adviser's written compliance procedures and policies must address how an adviser selects mutual funds to offer its clients, with a robust explanation of the distinctions between those funds' share classes.
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Source: ThompsonHine.com
Meet Wall Street's New King Makers: the ETF Strategists
September 24, 2017--Centrally managed portfolios have a big impact on how money moves in the ETF market.
The morning after Donald Trump's surprise victory in November, BlackRock Inc. quickly sold millions of dollars of shares in an emerging-markets exchange-traded fund, sales that rippled through thousands of client accounts totaling about $1 billion.
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Source: Wall Street Journal
Why a BlackRock Legal Victory Could Make It Harder for ETF Investors to Sue
September 24, 2017--A California court's decision may limit investors' ability to sue ETF providers for leaving out or misrepresenting risks in fund documents.
A group of investors who lost money during a wild day of ETF trading in 2015 accused BlackRock's iShares unit of leaving out certain warnings about what could go wrong in fund documents. BlackRock said in court documents that its warnings were adequate.
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Source: Wall Street Journal
Bats Welcomes Five New PowerShares Funds to the Bats ETF Marketplace
September 22, 2017--September 22, 2017--40 Issuers, 232 Funds Now Listed on Bats in the U.S.
Bats, a CBOE Holdings, Inc. company, and a leading market for exchange-traded product (ETP) trading globally, today welcomed a suite of five new PowerShares PureBeta funds to the Bats ETF Marketplace.
The launch brings the total number of PowerShares funds listed on the Bats ETF Marketplace to 15.view more
Source: Bats Global Markets
Global X Funds Announces Fund Liquidations
September 22, 2017--Global X Funds, the New York-based exchange-traded funds provider, today announced it will close the following funds: the Global X Brazil Mid Cap ETF (BRAZ), the Global X Brazil Consumer ETF (BRAQ), the Global X Guru® Activist Index ETF (ACTX), the Global X Guru® International Index ETF (GURI), the Global X Permanent ETF (PERM), the Global X Junior MLP ETF (MLPJ), and the Global X FTSE Andean 40 ETF (AND).
Shareholders may sell their holdings in the Funds prior to the end of the trading day on Friday, October 6, 2017 and customary brokerage charges may apply to these transactions. The Funds will cease trading at the close of regular trading on Friday, October 6, 2017.
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Source: Global X
CFTC.gov Commitments of Traders Reports Update
September 22, 2017--The current reports for the week of September 19, 2017 are now available.
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Source: CFTC.gov
Renaissance Capital Scheduled U.S. IPOs this week
September 22, 2017--Scheduled U.S. IPOs-Week of 09/25/17.
IPO Activity
There have been 100 IPOs priced so far this year, a +41% change from last year.
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Source: Renaissance Capital
