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CFTC.gov Swaps Report Update
September 28, 2016--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
SEC Proposes Rule Amendment to Expedite Process for Settling Securities Transactions
September 28. 2016--The Securities and Exchange Commission today voted to propose a rule amendment to shorten the standard settlement cycle for most broker-dealer securities transactions from three business days after the trade date (T+3) to two business days after the trade date (T+2).
The proposed amendment is designed to reduce the risks that arise from the value and number of unsettled securities transactions prior to the completion of settlement, including credit, market, and liquidity risk directly faced by U.S. market participants.
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Source: SEC.gov
SEC Adopts Rules for Enhanced Regulatory Framework for Securities Clearing Agencies
September 28, 2016--The Securities and Exchange Commission voted today to adopt new rules to establish enhanced standards for the operation and governance of securities clearing agencies that are deemed systemically important or that are involved in complex transactions, such as security-based swaps.
The Commission also voted to propose to apply the enhanced standards established by the new rules to other categories of securities clearing agencies, including all SEC-registered central counterparties.
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Source: SEC.gov
SEC Charges UBS With Supervisory Failures in Sale of Complex Products to Retail Investors
September 28, 2016--The Securities and Exchange Commission today announced that UBS Financial Services has agreed to pay more than $15 million to settle charges that it failed to adequately educate and train its sales force about critical aspects of certain complex financial products it sold to retail investors.
The SEC's order finds that UBS failed to develop and implement policies and procedures reasonably designed to educate and train UBS registered representatives in connection with the sale of reverse convertible notes (RCNs) so that they could form a reasonable basis to make suitable recommendations.
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Source: SEC.gov
First Actively Managed Utilities ETF "UTES" Celebrates One Year of Operation
September 28, 2016--ETF has benefitted from Reaves Asset Management's 50 years of expertise in the sector
The Reaves Utilities ETF (Ticker: UTES) has marked its first full year of management. (Inception date of the fund is 9/23/2015.)
UTES is the only actively managed and fully transparent utilities exchange traded fund (ETF). In its first year of operations, UTES's managers have employed a relative value strategy, to focus on distinctive opportunities in the utilities sector that have the potential for consistent earnings growth in the long term. UTES had a total return, including reinvested distributions, of 29.02% in its first full year of operations which outperformed its benchmark* by 321 basis points. The fund’s Total Annual Operating Expense is 0.95%.
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Source: Reaves Asset Management
AdvisorShares Launches the AdvisorShares KIM Korea ETF (Ticker: KOR)
September 28, 2016--Actively managed offering provides direct access to Korea's
equity market through the country's
leading asset manager
AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares KIM Korea Equity ETF (NYSE Arca: KOR) is scheduled to begin trading on Thursday, September 29, 2016.
KOR is sub-advised by Korea Investment Management Co., Ltd. (KIM). Founded in 1974 and headquartered in Seoul, South Korea, the firm is the country's largest independent asset manager with a well-established equity investment approach that stands continuously committed to bringing sustained outperformance to its clients over the long-term
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Source: AdvisorShares
TrimTabs Asset Management Launches Float Shrink ETF Under Ticker (BATS: TTAC)
September 28, 2016--Actively-managed Fund will feature low 0.59% expense ratio
TrimTabs Asset Management (TTAM), a New York City-based investment manager focused on free cash flow-centric strategies, today launched the TrimTabs Float Shrink ETF under the ticker (BATS: TTAC).
This follows AdvisorShares' decision to replace TrimTabs as the Sub-Advisor for TTFS as of June 30th 2016. In less than 90 days, TrimTabs is ready to begin rolling out their new line of free cash flow products.
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Source: TrimTabs Asset Management
ProShares Launches Only U.S. Crude Oil ETF With No K-1
September 28, 2016--ProShares, a premier provider of ETFs, today announced the launch of ProShares K-1 Free Crude Oil Strategy ETF (Bats: OILK).
OILK is the only crude oil ETF that is not a commodities partnership and therefore does not deliver K-1 tax forms to shareholders.
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Source: ProShares
AdvisorShares Active ETF Report: Steady Growth
September 28, 2016--Assets in actively managed ETFs continued their steady growth in August, increasing by $485 million, or 1.1%, to $27.031 billion.
Short Term Bond more than reversed July's decline by adding $266 million in August.
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Source: AdvisorShares
New Study Finds Russell 2000 Index Options Benchmarks and Options-Based Funds Less Volatile
September 27, 2016--15 Years of Data Show CBOE Russell 2000 PutWrite Index (PUTR) Topped Performance with Less Risk vs. Underlying Index
Chicago Board Options Exchange(R) (CBOE(R)) and Fund Evaluation Group, LLC (FEG) today announced findings from a study of four CBOE strategy performance benchmark indexes designed to track the performance of positions in Russell 2000 (RUT) index options, looking at various aspects of their performance over a 15-year period spanning 2001 through 2016.
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Source: CBOE
