Barclays suspends trading on commodity-linked ETN

A second commodity-linked iPath exchange-traded note issued by Barclays Bank PLC – the iPath Dow Jones-UBS Platinum Subindex Total Return Exchange Traded Note (PGM) – stopped trading today due to an “ongoing regulatory review” of such products, the bank said in a statement.
JAN 14, 2010
Trading has been suspended in another commodities-linked iPath exchange-traded note issued by Barclays Bank PLC. The bank announced today that its iPath Dow Jones-UBS Platinum Subindex Total Return Exchange Traded Note (PGM) has stopped trading due to an “ongoing regulatory review” of such products. It was the second trading suspension of a Barclays iPath note in recent months: On Aug. 21, the bank halted sales of its iPath Dow Jones-UBS Natural Gas Subindex Total Return Exchange Traded Note (GAZ). Policy changes under debate at the Commodity Futures Trading Commission may limit the amount of money investors can put into commodities-linked products. Exchange-traded notes — which behave similarly to exchange-traded funds but are backed by the issuing entity — are the primary way retail investors get exposure to commodities. Other suspensions may follow, according to the Barclays' statement. Barclays spokeswoman Kristin Friel declined to comment further.

Latest News

No succession plan? No worries. Just practice in place
No succession plan? No worries. Just practice in place

While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.

Research highlights growing need for personalized retirement solutions as investors age
Research highlights growing need for personalized retirement solutions as investors age

New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.