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SEC takes steps to free up proxy advisers, shareholder proposals
NEWS REGULATION AND LEGISLATION JUL 14, 2022
SEC takes steps to free up proxy advisers, shareholder proposals

The agency approved rules that free proxy advisers from restrictions placed on them at the end of the Trump administration; it also amended the reasons companies can use to try to keep shareholder proposals off their ballots.

JPMorgan halts share buybacks as earnings miss estimates
NEWS INDUSTRY NEWS JUL 14, 2022
JPMorgan halts share buybacks as earnings miss estimates

The pause in buybacks is needed to quickly meet higher capital requirements and give the firm "flexibility to best serve our customers, clients and community," said CEO Jamie Dimon.

Morgan Stanley expects $200 million fine for misuse of personal devices
YOUR PRACTICE FINTECH JUL 14, 2022
Morgan Stanley expects $200 million fine for misuse of personal devices

Meanwhile, the firm's wealth management franchise reported positives for the second quarter despite the broad stock market decline seen so far this year.

Wealthy business owners are at center of fight over Biden’s tax plan
RETIREMENT RETIREMENT PLANNING JUL 13, 2022
Wealthy business owners are at center of fight over Biden’s tax plan

Senate Majority Leader Chuck Schumer’s tax plan is key to the Democrats’ economic package.

Fed could weigh historic 100 basis-point hike after inflation scorcher
NEWS INDUSTRY NEWS JUL 13, 2022
Fed could weigh historic 100 basis-point hike after inflation scorcher

Futures priced roughly a one-in-two chance of such a hike after consumer prices rose a hotter-than-forecast 9.1% in the year through June.

God Bless America ETF may be coming soon with ticker YALL
INVESTING ESG JUL 13, 2022
God Bless America ETF may be coming soon with ticker YALL

The exchange-traded fund seeks to invest in companies that create American jobs and will screen out firms that stress political activism.

BlackRock warns against dip buying as high-volatility era dawns
INVESTING FIXED INCOME JUL 12, 2022
BlackRock warns against dip buying as high-volatility era dawns

Investors should bet on credit instead, because valuations have improved and default risk is contained, according to BlackRock strategists.

Bitcoin is more likely to hit $10,000 than $30,000, survey finds
INVESTING ALTERNATIVES JUL 11, 2022
Bitcoin is more likely to hit $10,000 than $30,000, survey finds

Retail investors were more apprehensive about cryptocurrencies whereas professional investors were more open-minded toward digital assets.

UBS considers promoting Khan to sole wealth management head
YOUR PRACTICE PRACTICE MANAGEMENT JUL 11, 2022
UBS considers promoting Khan to sole wealth management head

The move would potentially position Iqbal Khan as the eventual successor to CEO Ralph Hamers.

BlackRock sees 30% jump in flows to suite of climate ETFs
INVESTING ESG JUL 07, 2022
BlackRock sees 30% jump in flows to suite of climate ETFs

The nine ETFs, which have tracked EU-regulated climate transition benchmarks since October, attracted a net $2.7 billion this year as of mid-June.