The former head of Bank of America Corp's global wealth and investment management division would replace the reams of disclosure documents given to brokerage clients in favor of a single page of salient facts about products, potential conflicts and risks.
WASHINGTON, May 30- The U.S. Securities and Exchange Commission is taking steps to help spot if money starts flowing to alternative investments as the SEC cracks down on money market funds.
The Securities and Exchange Commission's plan will be unveiled after nearly a year of internal wrangling within the SEC over exactly how to craft the rules, and whether reforms were even needed. The SEC said it plans to meet on June 5 to consider the proposal in public. A second majority vote by the SEC would be needed to adopt the new rules.
LONDON, May 29- Any European Central Bank move to cut interest rates below zero could deal a further blow to money market funds already struggling in a low rate environment, raising risks to the wider financial system. Aggregated assets held by euro zone money funds fell to just 929 billion euros at the end of March from 1 trillion euros in 2011, according to the ECB.
*EU readies first shadow banking reform. LONDON, May 23- About half of the European Union's trillion euro money market funds would have to set aside a chunk of cash under a proposed EU reform to make a run on a fund in rocky markets less likely.
TOKYO, May 15- Struggling to stem a rout in government bond prices, the Bank of Japan said on Wednesday it will pump a massive amount of cash into the Tokyo money market.
TOKYO, May 15- The Bank of Japan offered on Wednesday to pump a massive amount of cash into the Tokyo money market in an attempt to soothe a spike in government-bond yields. The central bank announced on Wednesday it will offer 800 billion yen in one-month funds and 2 trillion yen in one-year funds on Friday.
WASHINGTON, May 3- The top U.S. securities regulator remained tight-lipped on Friday about the details of her agency's efforts to craft reforms for money market funds, probably disappointing an audience of fund industry executives who gathered in Washington for an annual conference.
WASHINGTON, May 3- The top U.S. securities regulator remained tight-lipped on Friday about the details of her agency's efforts to craft reforms for money market funds, probably disappointing an audience of fund industry executives who gathered in Washington for an annual conference.
Treasury sells $32 bln 3- year notes, high yield 0.342 pct. NEW YORK, April 9- Prices for longer-dated U.S. The small buyside takedown suggests to us that demand for the 3- year note is not all that huge at the moment, "said Thomas Simons, a money market economist at Jeffries& Co. Thirty-year bonds fell 13/ 32 in price to yield 2.931 percent after the auction.
*Want Want China up ahead of 2012 earnings. HONG KONG, March 5- China shares rebounded from a two-month closing low on Tuesday, lifting Hong Kong markets, led by banks as concerns about policy tightening ebbed after the central bank refrained from draining funds following a sharp dip in rates in the money market.
HONG KONG, Feb 27- China shares had their best day in three weeks on Wednesday, thanks to a proposed relaxation of investment rules that boosted listed brokerages and to expectations of greater money market liquidity.
HONG KONG, Feb 27- China shares rebounded from multi-week lows on Wednesday, led by strength in the brokerage sector, on easing of investment rules and expectations of greater liquidity in the money market.
*PBOC cash injection eases China tightening worries. HONG KONG, Feb 27- China shares rebounded from multi-week lows on Wednesday, led by strength in the brokerage sector on signs of more financial innovation as the central bank eased tightening concerns after injecting funds into the money market.
WASHINGTON, Feb 21- A bipartisan group of former top officials of the Securities and Exchange Commission are urging the U.S. financial risk council to back down from its efforts to pressure the SEC into adopting new rules for the $2.6 trillion money market fund industry.
DuckDuckGo CEO Gabriel Weinberg says web traffic on his search engine, billed as an alternative to Google that doesn't store your private information, surged 33 percent after the NSA news broke. Weinberg discusses the model of his search engine, and how the company makes money.
Wednesday, 19 Jun 2013 | 6:31 AM ETJohn Silvia, Wells Fargo Securities, and Barbara Marcin, Gabelli Dividend Income Fund, discuss whether investors should reconsider allocating their portfolios as the Fed wraps up its two-day policy meeting.
Wednesday, 19 Jun 2013 | 8:53 AM ETKen Langone, Invemed Associates chairman and president, called Fed Chairman Ben Bernanke a "lame duck."