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Investment Company Swing Pricing Us Securities And Exchange Commission Regulation Sec 2018 Edition
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Book Synopsis Investment Company Swing Pricing (Us Securities and Exchange Commission Regulation) (Sec) (2018 Edition) by : The Law Library
Download or read book Investment Company Swing Pricing (Us Securities and Exchange Commission Regulation) (Sec) (2018 Edition) written by The Law Library and published by Independently Published. This book was released on 2019-01-26 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law Library presents the complete text of the Investment Company Swing Pricing (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition). Updated as of May 29, 2018 The Securities and Exchange Commission is adopting amendments to rule 22c-1 under the Investment Company Act to permit a registered open-end management investment company ("open-end fund" or "fund") (except a money market fund or exchange-traded fund), under certain circumstances, to use "swing pricing," the process of adjusting the fund's net asset value ("NAV") per share to effectively pass on the costs stemming from shareholder purchase or redemption activity to the shareholders associated with that activity, and amendments to rule 31a-2 to require funds to preserve certain records related to swing pricing. The Commission is also adopting amendments to Form N-1A and Regulation S-X and a new item in Form N-CEN, all of which address a fund's use of swing pricing. This ebook contains: - The complete text of the Investment Company Swing Pricing (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition) - A dynamic table of content linking to each section - A table of contents in introduction presenting a general overview of the structure
Book Synopsis Mutual Fund Redemption Fees (Us Securities and Exchange Commission Regulation) (Sec) (2018 Edition) by : The Law Library
Download or read book Mutual Fund Redemption Fees (Us Securities and Exchange Commission Regulation) (Sec) (2018 Edition) written by The Law Library and published by Independently Published. This book was released on 2019-01-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law Library presents the complete text of the Mutual Fund Redemption Fees (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition). Updated as of May 29, 2018 The Securities and Exchange Commission ("Commission" or "SEC") is adopting amendments to a rule under the Investment Company Act. The rule, among other things, requires most open-end investment companies ("funds") to enter into agreements with intermediaries, such as broker-dealers, that hold shares on behalf of other investors in so called "omnibus accounts." These agreements must provide funds access to information about transactions in these accounts to enable the funds to enforce restrictions on market timing and similar abusive transactions. The Commission is amending the rule to clarify the operation of the rule and reduce the number of intermediaries with which funds must negotiate shareholder information agreements. The amendments are designed to reduce the costs to funds (and fund shareholders) while still achieving the goals of the rulemaking. This ebook contains: - The complete text of the Mutual Fund Redemption Fees (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition) - A dynamic table of content linking to each section - A table of contents in introduction presenting a general overview of the structure
Book Synopsis Swing Pricing and Fragility in Open-end Mutual Funds by : Dunhong Jin
Download or read book Swing Pricing and Fragility in Open-end Mutual Funds written by Dunhong Jin and published by International Monetary Fund. This book was released on 2019-11-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Book Synopsis Fund of Funds Investments (Us Securities and Exchange Commission Regulation) (Sec) (2018 Edition) by : The Law Library
Download or read book Fund of Funds Investments (Us Securities and Exchange Commission Regulation) (Sec) (2018 Edition) written by The Law Library and published by Independently Published. This book was released on 2019-01-24 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Law Library presents the complete text of the Fund of Funds Investments (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition). Updated as of May 29, 2018 The Securities and Exchange Commission ("Commission") is adopting three new rules under the Investment Company Act of 1940 that address the ability of an investment company ("fund") to acquire shares of another fund. Section 12(d)(1) of the Act prohibits, subject to certain exceptions, so-called "fund of funds" arrangements, in which one fund invests in the shares of another. The rules broaden the ability of a fund to invest in shares of another fund in a manner consistent with the public interest and the protection of investors. The Commission also is adopting amendments to forms used by funds to register under the Investment Company Act and offer their shares under the Securities Act of 1933. The amendments improve the transparency of the expenses of funds of funds by requiring that the expenses of the acquired funds be aggregated and shown as an additional expense in the fee table of the fund of funds. This ebook contains: - The complete text of the Fund of Funds Investments (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition) - A dynamic table of content linking to each section - A table of contents in introduction presenting a general overview of the structure
Book Synopsis Investment Company Act Release by : United States. Securities and Exchange Commission
Download or read book Investment Company Act Release written by United States. Securities and Exchange Commission and published by . This book was released on 1967 with total page 974 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Management Investment Companies by : Investment Company Institute (U.S.)
Download or read book Management Investment Companies written by Investment Company Institute (U.S.) and published by . This book was released on 1962 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Risk Management and Regulation by : Tobias Adrian
Download or read book Risk Management and Regulation written by Tobias Adrian and published by International Monetary Fund. This book was released on 2018-08-01 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The evolution of risk management has resulted from the interplay of financial crises, risk management practices, and regulatory actions. In the 1970s, research lay the intellectual foundations for the risk management practices that were systematically implemented in the 1980s as bond trading revolutionized Wall Street. Quants developed dynamic hedging, Value-at-Risk, and credit risk models based on the insights of financial economics. In parallel, the Basel I framework created a level playing field among banks across countries. Following the 1987 stock market crash, the near failure of Salomon Brothers, and the failure of Drexel Burnham Lambert, in 1996 the Basel Committee on Banking Supervision published the Market Risk Amendment to the Basel I Capital Accord; the amendment went into effect in 1998. It led to a migration of bank risk management practices toward market risk regulations. The framework was further developed in the Basel II Accord, which, however, from the very beginning, was labeled as being procyclical due to the reliance of capital requirements on contemporaneous volatility estimates. Indeed, the failure to measure and manage risk adequately can be viewed as a key contributor to the 2008 global financial crisis. Subsequent innovations in risk management practices have been dominated by regulatory innovations, including capital and liquidity stress testing, macroprudential surcharges, resolution regimes, and countercyclical capital requirements.
Book Synopsis Regulation of Investment Advisers by : Thomas P. Lemke
Download or read book Regulation of Investment Advisers written by Thomas P. Lemke and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis by : Norm Champ
Download or read book Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis written by Norm Champ and published by McGraw Hill Professional. This book was released on 2017-03-17 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: An insider’s look at the SEC and the changes needed to strengthen the U.S. financial system In 2008, Americans were reeling from the devastating financial crisis that caused the Great Recession. There were searing questions about how the crisis was allowed to happen and calls for immediate reform from Capital Hill, the news media, and the general public. Multiple scandals sent real fear through the investing community and brought unprecedented heat on the Securities and Exchange Commission (SEC). There was little doubt that the SEC had to fix rules that permitted bad behavior, shake off decades of complacency and enforce existing laws. Wall Street lawyer Norm Champ spent nearly 20 years dealing with the SEC on behalf of his clients and as an industry representative working to educate the agency about hedge funds. Believing he could help reform the deeply-flawed agency, Champ left his career in the private sector and joined the SEC. As Director of the Division of Investment Management, he became a key player in stabilizing trillions of dollars of investor capital while reenergizing the SEC’s culture and management. In Going Public, Champ presents a rare, insider’s look at how the SEC operates and explains exactly how the agency impacts the overall economic health of the country. He examines the inner workings of hedge funds, economic policy and politics, investing, and inefficient and frustrating federal agencies. Engrossing and important, this book offers critical recommendations for policy changes that will create healthy, free-functioning markets and help Americans better prepare for the inevitable next crisis.
Book Synopsis Exchange-Traded Funds and the New Dynamics of Investing by : Ananth N. Madhavan
Download or read book Exchange-Traded Funds and the New Dynamics of Investing written by Ananth N. Madhavan and published by Oxford University Press. This book was released on 2016-06-28 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Exchange-Traded Funds and the New Dynamics of Investing, Ananth Madhavan examines the quiet transformation of asset management through the rise of passive or index investing. A closely-related phenomenon is the rise of exchange-traded funds (ETFs). An ETF is an investment vehicle that trades intraday and seeks to replicate the performance of a specific index. ETFs have grown substantially in size, diversity, and market significance in recent years. These trends have generated considerable interest, especially from retail and institutional investors and increasingly from academics, regulators and the press. ETFs have the power to be a disruptive innovation to today's asset management industry because many traditional active managers and hedge funds deliver a significant fraction of their active returns via static exposures to factors like value. Indeed, for the first time ever, assets in global ETFs exceeded $3 trillion in 2015, passing the amount in hedge funds.
Book Synopsis Connectedness and Contagion by : Hal S. Scott
Download or read book Connectedness and Contagion written by Hal S. Scott and published by MIT Press. This book was released on 2016-05-13 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: An argument that contagion is the most significant risk facing the financial system and that Dodd¬Frank has reduced the government's ability to respond effectively. The Dodd–Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd–Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis—that is, that financial institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this book, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system. Contagion is an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent. It poses a serious risk because, as Scott explains, our financial system still depends on approximately $7.4 to $8.2 trillion of runnable and uninsured short-term liabilities, 60 percent of which are held by nonbanks. Scott argues that efforts by the Federal Reserve, the FDIC, and the Treasury to stop the contagion that exploded after the bankruptcy of Lehman Brothers lessened the economic damage. And yet Congress, spurred by the public's aversion to bailouts, has dramatically weakened the power of the government to respond to contagion, including limitations on the Fed's powers as a lender of last resort. Offering uniquely detailed forensic analyses of the Lehman Brothers and AIG failures, and suggesting alternative regulatory approaches, Scott makes the case that we need to restore and strengthen our weapons for fighting contagion.
Book Synopsis Global Trends 2040 by : National Intelligence Council
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Book Synopsis Exchange-Traded Funds by : A. Seddik Meziani
Download or read book Exchange-Traded Funds written by A. Seddik Meziani and published by Springer. This book was released on 2016-07-15 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: With Exchange Traded Fund (ETF) sponsors constantly making new types of ETFs available, there is now a variety of ETFs that provide investors with an opportunity to develop diversified investment portfolios. Their sophistication has also grown to include a breed of ETFs that do not passively track the performance of an underlying index. With this assortment of newer ETFs, and more on the way, market strategists are now capable of devising all-ETF portfolios based on a multitude of asset allocation schemes that respond to the need of their clients. This book provides a comprehensive overview of the changes brought about by ETFs. It describes and analyses recent changes alongside their impact on investment portfolios, and discusses the continuing success of index-based ETFs and the reasons underlying their long-lasting achievements. The book offers an objective discourse on the newly minted smart beta ETFs and some of the issues surrounding them, and provides an overview of how the increasingly widespread ETF-based portfolio hedging strategies are constructed and implemented. Paying particular attention to the importance of asset allocation and the essential role it plays in portfolio construction, this book explores the role played by ETFs in changing investors’ attitudes toward home bias, covering both established and emerging frontier markets. The author leverages his extensive background to integrate best professional practices and academic rigor for an increased understanding of the ever-evolving world of ETFs.
Book Synopsis Corporate Governance by : Robert A. G. Monks
Download or read book Corporate Governance written by Robert A. G. Monks and published by Wiley-Blackwell. This book was released on 2003-12-19 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the dramatic series of corporate meltdowns: Enron; Tyco; Adelphia; WorldCom; the timely new edition of this successful text provides students and business professionals with a welcome update of the key issues facing managers, boards of directors, investors, and shareholders. In addition to its authoritative overview of the history, the myth and the reality of corporate governance, this new edition has been updated to include: analysis of the latest cases of corporate disaster; An overview of corporate governance guidelines and codes of practice in developing and emerging markets new cases: Adelphia; Arthur Andersen; Tyco Laboratories; Worldcom; Gerstner's pay packet at IBM Once again in the new edition of their textbook, Robert A. G. Monks and Nell Minow show clearly the role of corporate governance in making sure the right questions are asked and the necessary checks and balances in place to protect the long-term, sustainable value of the enterprise. A CD-ROM containing a comprehensive case study of the Enron collapse, complete with senate hearings and video footage, accompanies the text. Further lecturer resources and links are available at www.blackwellpublishing.com/monks
Book Synopsis The Market Structure Crisis by : Haim Bodek
Download or read book The Market Structure Crisis written by Haim Bodek and published by Createspace Independent Publishing Platform. This book was released on 2015-11-18 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores various regulatory, legal, and competitive pressures that the U.S. securities industry is facing as a result of the intense regulatory scrutiny of the modern electronic marketplace and the heated public debate stirred by Flash Boys by Michael Lewis. This collection of previously published and unpublished materials includes the following articles and white papers: 1. 20 Predictions for the Future of the Market Structure Crisis - provides an overview of the current market structure crisis and offers forecasts for regulatory, legal, and commercial developments 2. Deconstructing Maker-Taker - analyzes the nature and implications of the maker-taker pricing model and discusses its role in the current market structure 3. Reigniting the Order Type Debate - reviews recent order type-related rule submissions by securities exchange and discusses the nature of "undocumented" order type features and order matching engine practices 4. The Problem of Fragmentation and Potential Solutions - presents various issues related to the "dispersed" trading process, analyzes different order flow allocation mechanisms, such as maker-taker and payment for order flow arrangements, and reviews potential regulatory solutions 5. HFT Regulation and Market Structure Reform - discusses the emergence of HFT regulation, including various proposals concerning restraints on electronic trading, approaches to slowing down or mechanically restraining the trading process, and the elimination of certain shortcuts embedded in the current market structure 6. Leveling the Playing Field: Lit and Dark Trading Venues - reviews recent enforcement actions directed at trading venues, analyzes the doctrine of regulatory immunity, and addresses a variety of other issues relevant for trading venues 7. Protecting Customers and Achieving Best Execution: Issues for Retail and Institutional Brokers - analyzes various concerns relevant for retail and institutional brokers, including the evolving duty of best execution and its extension to other parties, maker-taker and payment for order flow arrangements, and special order types 8. Litigation and the Impact of Enforcement: The Market Structure Perspective - provides as overview of the litigation landscape for market structure-related issues, including private lawsuits directed at major trading venues and brokerage firms, and discusses the significance of enforcement actions 9. Public Comment Letter on Several Order Type-Related Modifications Proposed by the New York Stock Exchange - offers a critique of the proposed functionalities and discusses the phenomenon of post-only intermarket sweep orders 10. The Flash Boys Lawsuit: The End of the Beginning? - discusses the path of the City of Providence v. BATS class action lawsuit, which has been referred to as the "Flash Boys Lawsuit," and analyzes the prospects of private lawsuits in the market structure space Appendix A - Summary of Key Enforcement Actions and Lawsuits Appendix B - Selected Market Structure-Related References
Download or read book Securities Litigation written by and published by Section of Litigation. This book was released on 1996 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Audit and Accounting Guide: Investment Companies by : AICPA
Download or read book Audit and Accounting Guide: Investment Companies written by AICPA and published by John Wiley & Sons. This book was released on 2018-09-26 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you are a financial statement preparer or auditor, it is critical to understand the complexities of the specialized accounting and regulatory requirements for investment companies. This 2018 guide provides authoritative how-to accounting and auditing advice, including implementation guidance and illustrative financial statements and disclosures. This guide is the industry standard resource, supporting practitioners in a constantly changing industry landscape packed with continuous regulatory developments. Updates include: References to appropriate AICPA Technical Questions and Answers that address when to apply the liquidation basis of accounting. Appendices discussing the new standards for financial instruments, leases and revenue recognition. Appendices discussing common or collective trusts and business development companies.
