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Credit Suisse to exit prime services, pivot to wealth
NEWS INDUSTRY NEWS NOV 04, 2021
Credit Suisse to exit prime services, pivot to wealth

The bank is exiting the hedge fund business after the implosion of Archegos cost it billions of dollars and will shift more resources to wealth management.

Bitcoin futures ETF mania cools as Wall Street hits pause button
INVESTING ALTERNATIVES NOV 04, 2021
Bitcoin futures ETF mania cools as Wall Street hits pause button

Wall Street analysts had expected as many as four Bitcoin futures ETFs to begin trading in October.

Mega-IRA tax changes resurface in draft of House bill
NEWS REGULATION AND LEGISLATION NOV 04, 2021
Mega-IRA tax changes resurface in draft of House bill

The measure would place limits on individual retirement accounts, including preventing contributions to accounts once they reach $10 million, and give the IRS more oversight over them.

SEC paves way for more proxy votes on climate change
INVESTING ESG NOV 03, 2021
SEC paves way for more proxy votes on climate change

The change is the latest attempt by the agency to make it easier for shareholders to take action on hot-button issues like race and climate change.

Democrats eye raising minimum tax rates to offset SALT expansion
NEWS REGULATION AND LEGISLATION NOV 03, 2021
Democrats eye raising minimum tax rates to offset SALT expansion

An expansion of the alternative minimum tax, would require some top earners to pay more in taxes.

Riskier Bitcoin ETF filings prove too much for SEC
NEWS REGULATION AND LEGISLATION NOV 03, 2021
Riskier Bitcoin ETF filings prove too much for SEC

Direxion pulled a request to launch the Direxion Bitcoin Strategy Bear ETF.

Plan to suspend SALT cap 'unacceptable,' Bernie Sanders says
NEWS REGULATION AND LEGISLATION NOV 03, 2021
Plan to suspend SALT cap 'unacceptable,' Bernie Sanders says

House Democrats are considering a five-year suspension of the cap on federal deductions for state and local taxes, but the Vermont senator disapproves.

Franklin Templeton agrees to buy Lexington Partners for $1.75 billion
NEWS INDUSTRY NEWS NOV 01, 2021
Franklin Templeton agrees to buy Lexington Partners for $1.75 billion

The asset manager is expanding into private equity with the acquisition of Lexington, which is a big player in the booming secondaries market, which involves buying maturing portfolios from PE investors.

Citi requires vaccines for all US workers
YOUR PRACTICE PRACTICE MANAGEMENT OCT 29, 2021
Citi requires vaccines for all US workers

The bank, citing President Joe Biden's directive to federal contractors, is asking staffers to submit proof of vaccination by Dec. 8.

Biden attempts to end deadlock with $1.75 trillion package
NEWS REGULATION AND LEGISLATION OCT 28, 2021
Biden attempts to end deadlock with $1.75 trillion package

The administration believes the package, which includes tax increases and climate and social welfare spending, can pass Congress.