Fiduciary proposal opponents suggest that robo advisors may be unregistered investment companies, in violation of both the Investment Company Act of 1940 and SEC regulation.
Blackstone Group is expected to pay $39 million to settle claims stemming from a U.S. regulator's probe into whether private equity firms put their own interests ahead of investors'.
The worlds largest issuers of ETFs are holding talks with stock exchanges and market-makers to avoid a repeat of the issues that plagued ETFs during Aug. 24s market turmoil, according to five people with direct knowledge of the matter.
Small market participants have less access to support and appear to be less knowledgeable and engaged in their workplace retirement plans.
Senate Banking Committee Chairman Richard Shelby sent a letter to regulators this week raising concerns about the role of the Financial Stability Board in designating large banks as systemically risky and whether the international council has undue influence on U.S. policy.
While IT budgets at buy-side firms have not fully recovered from the cutbacks of the Great Recession, front-office demands keep growing in quantity, complexity and required speed of response.
During the crisis of 2008, service providers faced an environment in which they saw their clients' assets decline sharply.
Executives at mutual fund companies, asset management companies and support providers rated client reporting--which included any reporting that is created for the purpose of distribution to clients--as their top challenge followed closely by risk management in Money Management Executive's third annual Operations Survey.
Fund sponsors have long debated the relative merits of building, buying or outsourcing fund administration technology. As sponsors face more and more data-driven demands from regulators and investors, there is increased pressure to adopt new efficient technologies for fund administration process such as expense payments and budgeting, regulatory reporting and financial reporting. While there is no one-size-fits-all answer to the "build, buy or outsource" question a mix of cost pressures, resources, reporting requirements and technological advances have tipped the balance in favor of "buy" and "outsource."
These are stressful times for the mutual fund industry. An obvious statement, but one authored by a colleague ten years ago. Even more interesting is that the trends cited then are the same concerns that we hear from clients today. So what has changed?