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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.

JPMorgan chases active ETFs with $10 billion mutual fund switch
MUTUAL FUNDS AUG 11, 2021
JPMorgan chases active ETFs with $10 billion mutual fund switch

The firm plans to convert four mutual funds into ETFs next year, making it the biggest name so far to make such a move.

Wells Fargo names Steve Black chairman
WIREHOUSES AUG 10, 2021
Wells Fargo names Steve Black chairman

Charles Noski, who had served as the bank's chairman since March 2020, is stepping down.

Climate report  to add pressure on governments to decarbonize
RIA NEWS AUG 09, 2021
Climate report to add pressure on governments to decarbonize

UN-backed panel on climate change warns time is running out to stop global warming from exceeding 1.5 degrees Celsius.

Nasdaq wins SEC support for plan to diversify boards
PRACTICE MANAGEMENT AUG 07, 2021
Nasdaq wins SEC support for plan to diversify boards

The exchange will direct its listed companies to pursue board diversity — by having at least one female board member and at least one who identifies as a member of an underrepresented minority or LGBTQ — or explain why they don’t.

Apollo-backed Athene wins $4.9 billion Lockheed pension deal
RETIREMENT PLANNING AUG 06, 2021
Apollo-backed Athene wins $4.9 billion Lockheed pension deal

Athene will provide benefits to about 18,000 participants in Lockheed’s pension plan. The deal follows a 2018 agreement between the two companies in which Athene assumed $800 million in obligations tied to around 9,000 retirees and beneficiaries of the aerospace giant’s pension plan.

BlackRock, Wells Fargo delay return to office on Covid concerns
PRACTICE MANAGEMENT AUG 05, 2021
BlackRock, Wells Fargo delay return to office on Covid concerns

The shifts signal that the financial services industry is rethinking its return-to-office plans as the highly contagious delta variant sweeps across the country.

Vanguard offers workers $1,000 to get vaccinated by October
PRACTICE MANAGEMENT AUG 04, 2021
Vanguard offers workers $1,000 to get vaccinated by October

The asset manager will make payments to all workers who can prove they've gotten a Covid-19 vaccine, even if they were inoculated before the company extended the offer.

Square to buy Afterpay for $29 billion
FINTECH AUG 02, 2021
Square to buy Afterpay for $29 billion

The digital payments platform says the acquisition of the Australian buy now, pay later company will allow it to capitalize on the shift away from traditional credit, especially among younger consumers.

Deutsche sees slew of departures in US wealth unit
PRACTICE MANAGEMENT JUL 30, 2021
Deutsche sees slew of departures in US wealth unit

At least 10 senior bankers and numerous junior employees across the world’s largest wealth management market have left, according to people familiar with the matter.