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SEC blocks Chinese IPO filings until risks are better disclosed
REGULATION, LEGAL & COMPLIANCE JUL 30, 2021
SEC blocks Chinese IPO filings until risks are better disclosed

Gensler says he's asked agency staff to seek additional disclosures from Chinese firms before signing off on their registration statements to sell shares.

T. Rowe President Sharps to succeed Stromberg as CEO
PRACTICE MANAGEMENT JUL 29, 2021
T. Rowe President Sharps to succeed Stromberg as CEO

Chief Executive Bill Stromberg is retiring after 35 years at the Baltimore-based asset management company.

Pension funds talk green but hold billions in polluter stocks
RETIREMENT PLANNING JUL 28, 2021
Pension funds talk green but hold billions in polluter stocks

The 10 largest public pension funds devote about 9% of their combined equity holdings to 20 high-carbon emitting companies, according to Bloomberg Intelligence.

Gensler says SEC will propose climate risk rules by year-end
REGULATION, LEGAL & COMPLIANCE JUL 28, 2021
Gensler says SEC will propose climate risk rules by year-end

The SEC chairman signals that the disclosures about the risks corporations face from climate change may appear in the mandatory filings public companies make to the agency.

European ESG benchmarks make greenwashing harder
RIA NEWS JUL 27, 2021
European ESG benchmarks make greenwashing harder

While only about $1.2 billion is now tied to gauges that meet the European Commission requirements, inflows have more than doubled since January, according to the European Securities and Markets Authority.

Aon, Willis cancel $30 billion deal amid DOJ impasse
RETIREMENT PLANNING JUL 26, 2021
Aon, Willis cancel $30 billion deal amid DOJ impasse

The insurance brokerage, which couldn't convince the U.S. that the combination wouldn't restrain competition, will pay a $1 billion termination fee to Willis Towers.

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.

Banks making cheap loans to the ultra-rich
PRACTICE MANAGEMENT JUL 23, 2021
Banks making cheap loans to the ultra-rich

Rock-bottom interest rates have fueled the biggest borrowing binge on record, and even billionaires with enough cash to fill a swimming pool are loathe to sit it out.

JPMorgan to double advisers in broker unit
PRACTICE MANAGEMENT JUL 23, 2021
JPMorgan to double advisers in broker unit

The bank is planning to hire more than 500 advisers in its traditional brokerage business in coming years, bringing the total in that unit to 1,000.

Goldman spinoff Simon Markets raises $100 million in latest funding round
ALTERNATIVES JUL 22, 2021
Goldman spinoff Simon Markets raises $100 million in latest funding round

The financial technology platform, which provides financial advisers with access to alternative investments, saw its valuation top $800 million with the funding round led by WestCap.