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Congress pressed to mandate higher giving amid crisis
REGULATION, LEGAL & COMPLIANCE MAY 19, 2020
Congress pressed to mandate higher giving amid crisis

Proposal would require foundations and donor-advised funds to donate 10% of their total assets to charities in each of the next three years

JPMorgan shutting down ETFs that use hedge fund strategies
ALTERNATIVES MAY 19, 2020
JPMorgan shutting down ETFs that use hedge fund strategies

The firm has had more success with its BetaBuilders funds, which track broad benchmarks at low prices

Robinhood, ETrade have resolved tech issues
FINTECH MAY 18, 2020
Robinhood, ETrade have resolved tech issues

Both online trading platforms had experienced problems Monday morning

Wells Fargo's market value is down $220 billion since Fed cap
WIREHOUSES MAY 18, 2020
Wells Fargo's market value is down $220 billion since Fed cap

The limit the Fed imposed on the bank's assets are hitting harder as corporate customers draw down credit lines amid the pandemic

Investment giants try to reshape ETF market
MUTUAL FUNDS MAY 15, 2020
Investment giants try to reshape ETF market

Smaller companies are pushing back, arguing the big players are just trying to cement their dominance

Adviser pleads guilty to $18 million fraud scheme
REGULATION, LEGAL & COMPLIANCE MAY 15, 2020
Adviser pleads guilty to $18 million fraud scheme

Fred Elm of Elm Tree Investment Advisers claimed he could get investors access to pre-IPO shares of tech companies

Bank of America sells $1 billion bond issue to fund pandemic relief efforts
FIXED INCOME MAY 15, 2020
Bank of America sells $1 billion bond issue to fund pandemic relief efforts

Deal is first from a U.S. bank that links all proceeds to tackling the virus

Fed launches ETF program with $305 million purchase Tuesday
MUTUAL FUNDS MAY 15, 2020
Fed launches ETF program with $305 million purchase Tuesday

The central bank's weekly balance sheet update also showed its total assets hit a new record of $6.93 trillion

Big investors sound the alarm about stocks
EQUITIES MAY 14, 2020
Big investors sound the alarm about stocks

Stan Druckenmiller, Paul Singer and Paul Tudor Jones are among the heavyweights voicing doubts about the markets or the economy

Public pensions see worst quarter since credit crisis
RETIREMENT PLANNING MAY 13, 2020
Public pensions see worst quarter since credit crisis

State and local government pension plans lost about 13% during the first quarter