AI apps link to accounts to assist with spending, saving, debts and more. Most ordinary consumers don’t have access to a personal financial adviser, but a growing number of AI services are promising to change that by offering tools to help spenders track their expenditure and give advice on how best to manage their money....Read More
US SEC would require 80% of a fund’s portfolio to match its name. For the protection of investors. US financial watchdogs are pushing ahead with a crackdown on deceptive fund names, despite industry warnings that it will discourage stock picking, violate free speech protections and force funds to sell assets at a loss when markets...Read More
Consolidation in private equity is rife right now, with deals this month including CVC’s purchase of a majority stake in Dutch infrastructure investor DIF Capital Partners, and Bridgepoint’s acquisition of US-based renewables specialist Energy Capital Partners. One leading European private equity firm has a particularly stark prediction for how this wave of dealmaking might whittle...Read More
Government officials and a growing number of investors believe the Federal Reserve’s interest rate rises will not damage the US economy significantly. But investment chiefs at two of the world’s largest asset managers are not so optimistic. FT spoke to investment chiefs at two of the world’s largest asset managers, BlackRock and Amundi, who warned...Read More
Relevant to: Regulated Entities[1]Circular C596 (“the Circular”) dated 11/09/2023 informs the Regulated Entities regarding thetransfer of Russian securities to Russia (‘Forced Transfers’). Through Circular C596, CySEC wishes with this Circular to inform the Regulated Entities on the matter of ‘Forced Transfers’.The key takeaways from CySEC’s C596 circular can be found below: 1) According to Law 319-FZ, the...Read More
JPMorgan analyst Nikolaos Panigirtzoglou explained in a note last week that the U.S. Securities and Exchange Commission (SEC) may be forced to approve several spot bitcoin exchange-traded funds (ETFs) after a court ruled in favor of Grayscale Investments regarding the crypto asset manager’s proposal to convert its bitcoin trust into a spot bitcoin ETF. “The...Read More
Source: Financial Times The London Stock Exchange Group has drawn up plans for a new digital markets business, saying this will make it the first major exchange to offer extensive trading of traditional financial assets on the blockchain technology best known for powering cryptocurrency. The company had been examining the potential for a blockchain-powered trading...Read More
Source: Financial Times Combination of stronger US economy in 2023 and stickier inflation trigger downgrades for next year. Persistently higher interest rates in major economies mean global growth is likely to slow next year after outperforming expectations so far in 2023, economists say. Output will expand 2.1 per cent in 2024, according to an aggregation...Read More
Bitcoin‘s value soared on Tuesday 29th August 2023 after the U.S. Court of Appeals for the DC Circuit deemed the SEC’s denial of Grayscale’s bitcoin trust conversion into an ETF as incorrect. Bitcoin surged 6.5% to $27,683.82, uplifting both cryptocurrenciesand crypto equities. Grayscale won its lawsuit against the SEC, which was filed after the SEC denied...Read More
Relevant to: Investment Fund Managers1 Circular C594 (“the Circular”) dated 23/08/2023 informs Investment Fund Managers on ESMA’s Common Supervisory Action with national regulators on the sustainability risks. Through Circular C594, CySEC wishes to inform Investment Fund Managers that the European Securities and Markets Authority (ESMA) has launched the 2023 and 2024 Investment Fund Sector CSA...Read More
