Alternatives

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SEC marketing rule causes advisers most compliance concerns
RIA NEWS SEP 07, 2021
SEC marketing rule causes advisers most compliance concerns

Even though advisers don’t have to comply with the rule for more than a year, it ranked as the hottest compliance topic, according to a survey; cybersecurity and climate change/ESG were other areas worrying advisers.

By Mark Schoeff Jr.
SEC charges crypto exchange BitConnect with $2 billion fraud scheme
ALTERNATIVES SEP 02, 2021
SEC charges crypto exchange BitConnect with $2 billion fraud scheme

The regulator sued five BitConnect promoters in May for their roles in promoting the scheme by creating testimonials on YouTube, sometimes multiple times a day.

By Bloomberg
Bain Capital to create ESG hedge fund
ALTERNATIVES AUG 24, 2021
Bain Capital to create ESG hedge fund

Long-short strategy launching by October to focus on global consumer, tech, financial and healthcare stocks with $1 billion or more.

By Bloomberg
Bitcoin mining is an 'existential threat' to crypto
ALTERNATIVES AUG 23, 2021
Bitcoin mining is an 'existential threat' to crypto

The process of mining cryptocurrency sops up more energy than entire nations. Lawmakers like Elizabeth Warren, and billionaires like Bill Gates, have recently called attention to the environmental impacts.

By Sean Allocca
RIA makes lowball offer for former Schorsch BDC shares
ALTERNATIVES AUG 19, 2021
RIA makes lowball offer for former Schorsch BDC shares

MacKenzie Capital is offering investors of Business Development Corp. of America $2.50 per share compared to its recent value of $7.43.

By Bruce Kelly
GOP challenges SEC chief's bid to regulate cryptocurrency
ALTERNATIVES AUG 12, 2021
GOP challenges SEC chief's bid to regulate cryptocurrency

Rep. Patrick McHenry, R-N.C., argues that Gensler’s appeal to Congress for jurisdiction over cryptocurrency regulation is a 'power grab.'

By Nicole Casperson
Senate vote gives advocates for real estate tax break hope of protecting it
ALTERNATIVES AUG 12, 2021
Senate vote gives advocates for real estate tax break hope of protecting it

Lawmakers could decide to limit like-kind property exchanges as a way to pay for Biden administration spending priorities.

By Mark Schoeff Jr.
Flood of Bitcoin ETF filings  but cooling demand for funds
ALTERNATIVES AUG 12, 2021
Flood of Bitcoin ETF filings but cooling demand for funds

Digital asset investment products from Grayscale, Bitwise, 21Shares and others saw outflows for the fifth straight week, the longest such streak since January 2018.

By Bloomberg
Hackers return funds from likely record crypto attack
ALTERNATIVES AUG 11, 2021
Hackers return funds from likely record crypto attack

After stealing $610 million from a DeFi protocol that lets users swap crypto tokens, the online thieves pledged to give back the money. So far, they've returned about $258 million.

By Bloomberg
MassMutual indie broker-dealer to offer Bitcoin fund to clients
ALTERNATIVES AUG 11, 2021
MassMutual indie broker-dealer to offer Bitcoin fund to clients

MML Investors Services has entered into a placement agent agreement with NYDIG, a provider of technology and investment solutions that focuses on Bitcoin.

By Bruce Kelly
Finra targets options trading in latest exam sweep
ALTERNATIVES AUG 11, 2021
Finra targets options trading in latest exam sweep

The regulator is probing how brokerages approve and monitor options trading for customers and is requesting information pertaining to self-directed accounts and accounts in which a registered representative made recommendations.

By Mark Schoeff Jr.
Gensler seeks Warren's help in crypto exchange crackdown
ALTERNATIVES AUG 11, 2021
Gensler seeks Warren's help in crypto exchange crackdown

The SEC chairman tells Sen. Warren that lawmakers should give watchdogs clear powers to write rules for exchanges, including DeFi trading venues.

By Bloomberg
Digital asset proposal puts spotlight on crypto taxes
ALTERNATIVES AUG 05, 2021
Digital asset proposal puts spotlight on crypto taxes

The provision, tucked inside a massive infrastructure bill, would require tax reporting for transactions similar to securities. The measure seeks to ensure that details about digital transactions — such as purchase price, gains and losses — are reported to the IRS.

By Mark Schoeff Jr.
F.L. Putnam acquires Atrato Advisors
ALTERNATIVES AUG 05, 2021
F.L. Putnam acquires Atrato Advisors

The purchase of the investment boutique will provide the RIA with expertise in alternatives.

By InvestmentNews
Congress should expand SEC oversight of crypto's 'Wild West': Gensler
ALTERNATIVES AUG 03, 2021
Congress should expand SEC oversight of crypto's 'Wild West': Gensler

The Securities and Exchange Commission chairman called on lawmakers to expand the agency's investor protection mandate to include crypto trading and decentralized finance. Cryptocurrency assets are worth roughly $1.6 trillion.

By Nicole Casperson
Cryptoasset platform Onramp Invest raises $6 million
ALTERNATIVES AUG 03, 2021
Cryptoasset platform Onramp Invest raises $6 million

The San Diego tech firm will use the funds to expand its offerings to RIAs and explore registering as a broker-dealer.

By InvestmentNews
Bill mandating SEC test for accredited investors draws criticism
ALTERNATIVES JUL 30, 2021
Bill mandating SEC test for accredited investors draws criticism

Legislation by Rep. Patrick McHenry, R-N.C., would allow anyone who passes the agency's exam to purchase unregistered securities, but credentialing groups are concerned about the mechanism for becoming a sophisticated investor.

By Mark Schoeff Jr.
Alternative investments platform iCapital lands $440 million in fresh funding
ALTERNATIVES JUL 27, 2021
Alternative investments platform iCapital lands $440 million in fresh funding

Assets serviced by iCapital have exploded to $80 billion across more than 780 funds to date, up from $46 billion in March 2020.

By Nicole Casperson
Alternative investment sales skyrocket in 2021
ALTERNATIVES JUL 26, 2021
Alternative investment sales skyrocket in 2021

Sales of such alternative investments are so strong, they have already surpassed last year's total of close to $27 billion, and are tracking to nearly double that amount by year end.

By Bruce Kelly
Bitcoin nears $40,000 as shorts fuel rally on Amazon speculation
ALTERNATIVES JUL 26, 2021
Bitcoin nears $40,000 as shorts fuel rally on Amazon speculation

The cryptocurrency's gains were sparked by speculation that Amazon might eventually accept Bitcoin as a method of payment.

By Bloomberg