The acquisition of Oak Hill, one of the biggest players in alternative credit, will allow T. Rowe to expand into private debt investing.
The plan, sponsored by Senate Finance Committee Chairman Ron Wyden, would require the richest Americans to pay taxes annually on appreciation in publicly traded assets, such as stocks and bonds.
The London-based firm, which manages more than $785 billion, plans to give portfolio companies time to adopt to its tougher CO2 requirements.
The bank is responding to internal wrangling about how the profits from the unit that deals with some of its richest clients are shared between its wealth management and investment management businesses.
The new service, scheduled to begin sometime next year, will service customers with between $250,000 and $2 million in assets, a group that UBS hasn't previously targeted in a meaningful way.
The deep dive into the bank's business will be conducted by lawyers at Covington & Burling, and will focus on Citi's 2020 commitment to dedicate $1 billion to initiatives aimed at closing the racial wealth gap in the US.
Treasury Secretary Janet Yellen led the panel of top federal regulators that issued the report on climate change, including tentative recommendations for how agencies should begin preparing to contain the risk.
VanEck's pending Bitcoin Strategy ETF will carry a management fee of 0.65%, undercutting the 0.95% expense ratio on ProShares' Bitcoin Strategy ETF, which debuted Tuesday.
Four executives of Texas-based UDF are charged with securities fraud and conspiracy to commit wire fraud by federal prosecutors.
The overhauled compensation structure is tied to revenue production and features a length-of-service award for high performers with additional revenue, which will be paid in restricted stock units.
