News Topic: ETFs
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Miami fintech joins with Bradesco to offer digital investments
BlackRock to pull bulk of U.S. ETF assets from State Street
Six living wills have ‘shortcomings’; PE firms buy stake in Amex unit
Regulators said the living wills of six banks — not Goldman or JPM — need tweaking; the investment values the global business travel unit at $5 billion. ... Read full article
Bank of America's Merrill Edge goes to zero-dollar trades amid price war
The move follows similar offers from other major brokerages in the last two weeks, as the wealth management industry races to woo clients with the lowest-priced products possible. ... Read full article
Banks getting bank into politics; Latest on Libra
After years of keeping a low profile, banks plan to spend in next year’s elections; the digital currency has eyes on the unbanked. ... Read full article
Even Canadian banks are shunning U.S. pot firms
CEOs at Bank of Montreal and TD Bank Group say they are unlikely to touch the American cannabis industry until the laws change. ... Read full article
Reg changes drive Chemical-TCF union; Fed seeks stress-test input
Last year’s Dodd-Frank rollback facilitated the Chemical-TCF deal; the Fed is holding a conference this summer to discuss possible changes to the tests. ... Read full article
‘What happens when the music stops?’: John Taft at Baird
The financial system is safer than it was 10 years ago, says John Taft, vice chairman of Baird. But there are still risks lurking unseen in areas like ETFs, ... Read full article
'People are overwhelmed by choice': Schwab's Marie Chandoha
The head of Charles Schwab Investment Management is disrupting the asset-management industry by introducing more straightforward ETFs, mutual funds and other investment products. ... Read full article
Jessica Seidlitz: A champion for diversity at Charles Schwab
Working closely with her boss, Marie Chandoha, Seidlitz is on a mission to recruit and retain more female asset managers. ... Read full article
Layoffs at JPM; SEC rejects nine bitcoin ETFs
The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation. ... Read full article
JPM breaks free; Merrill to sweep uninvested funds away from MMFs
Bank to offer 100 free stock or ETF trades to customers; the BofA unit will deposit uninvested client cash in banks, not money market funds. ... Read full article
JPMorgan ETFs take off; Goldman’s scapegoat?
The funds have brought in record amounts thanks to lowered fees and more salespeople; ex-Goldman managing director says in suit he was blamed for trades. ... Read full article
Walmart picks Capital One; CFPB to emphasize collaboration
The retailer is ending its nearly two-decade credit card relationship with Synchrony Financial; Mulvaney says the bureau will first negotiate, not sue, to settle disputes. ... Read full article
Online consumer lender MoneyLion hires Stifel exec for banking push
The 5-year-old company, which is seeking to rebundle consumer finance on the mobile phone, has named Jon Stevenson head of banking and wealth management. ... Read full article
BNY Mellon ditches many actively managed funds in favor of ETFs
The bank's head of investment management said Wednesday that his unit has eliminated dozens of high-cost funds over the last two years and replaced them with more passive investment vehicles. ... Read full article
CFPB fires advisory board members; Goldman goes to ‘war’
Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks. ... Read full article
SEC rejects Winklevoss ETF proposal
U.S. regulators rejected an exchange-traded fund based on bitcoin, wiping out weeks of gains for the digital currency as investors speculated the Securities and Exchange Commission would approve the security. ... Read full article
#ShePersisted, millennial myths and female-led ETFs
Elizabeth Warren getting shushed on the Senate floor gives her a much bigger (and wildly enthusiastic) audience for her message; ETFs set an example in female leadership for all of financial services; and more. ... Read full article
