Goldman Sachs has laid the groundwork to launch actively managed exchange-traded funds, the latest Wall Street bank to set its sights on the market.» Read More
LONDON, Sept 30- The one minute window for setting a widely used currency market benchmark should be extended to 5 minutes to make it harder to manipulate prices, the Group of Twenty's regulatory task force said on Tuesday.
NEW YORK, Sept 22- Goldman Sachs Group Inc has laid the groundwork to launch actively managed exchange-traded funds, becoming the latest Wall Street bank to set its sights on the fast-growing market.
LONDON, Aug 13- The world's top banks have backed the bulk of recommendations from regulators to reform the setting of the leading global currency benchmark following allegations of market rigging, making changes inevitable.
WASHINGTON, Aug 5- U.S. regulators on Tuesday told banks to come up with better living wills, inching a step closer to taking action if these plans to avoid taxpayer bailouts during a future crisis were still deficient next year.
The planned transformation of EBS, owned by the world's largest interdealer broker ICAP, comes as the sector faces greater regulatory scrutiny after alleged manipulation of foreign exchange benchmarks used to price trillions of dollars of investments and company deals.
*Report backs reform of existing ECB and 4 p.m. London fixes. At the center of the investigations is activity around the 4 p.m. currency fix in London, a 60- second window where key exchange rates are set. The Financial Stability Board, based in Basel in Switzerland, said it had no access to any evidence or knowledge of any details of the investigations.
*Report backs reform of existing ECB and 4 p.m. London fix. LONDON, July 15- The G20's global financial regulator on Tuesday urged deep-rooted change to how currency benchmarks are set, a response to allegations that dealers at major banks colluded and manipulated rates.
July 9- State Street Corp has reached $70 million in settlements to end three lawsuits claiming it inflated its share price by overcharging clients on foreign exchange services and falsely representing that its investments in mortgage-backed securities were safe.
July 9- State Street Corp has reached a $60 million settlement of a shareholder lawsuit that accused it of overcharging clients for foreign exchange services, and falsely stating it invested only in "high quality" assets, according to a court filing.
Funds managed by Trian collectively own about 28.9 million shares, or about 2 percent, of BNY Mellon after adding to the stake in the first quarter, according to disclosures with the U.S. Securities and Exchange Commission and the person familiar with Trian's investment strategy. "Trian is a respected investment firm," BNY Mellon spokesman Kevin Heine said.
Even as BlackRock is set to amass $1 trillion in exchange-traded fund assets, investors increasingly send money to low-cost leader Vanguard.
NEW YORK, June 30- Even as BlackRock Inc is set to amass $1 trillion in exchange-traded fund assets in its iShares business, U.S. retail investors increasingly prefer to send their money to low-cost leader Vanguard Group, highlighting a weak spot for the world's biggest money manager.
LONDON, June 19- British investigators are examining millions of electronic messages which include fresh evidence of possible collusion by a small group of top currency traders, sources say.
JPMorgan is launching its first exchange-traded fund on Tuesday.
NEW YORK, June 17- J.P. Morgan Chase& Co is launching its first exchange-traded fund on Tuesday as the Wall Street bank's asset management business makes its debut in the $1.8 trillion U.S. exchange-traded fund arena.
Three major banks are below or almost at minimum capital thresholds expected to be included in a rule still being hammered out by U.S. regulators.
June 12- Institutional investors having trouble finding bonds for their portfolios from the usual suppliers are accepting a higher degree of risk and pumping billions of dollars into exchange-traded bond funds, boosting asset management firms such as BlackRock, Pimco and State Street.
The euro weakened against the dollar, as yield differentials between Treasuries and Bunds widened to multi-year highs.
May 31- BlackRock Inc Chief Executive Larry Fink this week dropped a stink bomb on a small corner of the $2.5 trillion global market for exchange-traded funds. Sponsors of leveraged ETFs and related products, which make up only about $60 billion of global industry assets, called his remarks an exaggeration.
Vanguard Group CEO Bill McNabb says the idea of tagging some funds as systemically important to the financial system will cost investors.