 |
FT Portfolios Canada launches ETFs on Toronto Stock Exchange
FT Portfolios Canada, a partner of US broker First Trust, has launched three new ETFs on the Toronto Stock Exchange (TSX). The Chicago based firm becomes the US business with a Canadian branch offering ETFs on TSX.
FATCA: IRS releases new W-8BEN & W9 forms
According to Clearstream, the US Internal Revenue Service has issued new drafts of the W-*BEN and W9 forms relating to the Foreign Account Tax Compliance Act (FATCA). The draft W-8BEN, which is for non-US individuals, contains two significant changes. The new line 8 requires the beneficial owner to provide the date of birth if no foreign tax identification number is provided. This will be needed by the United States to be able to report under IGA reciprocal model 1 under FATCA. There is an additional requirement as well for the beneficial owner to promise that they will provide a new form within 30 days of when any certification on the form becomes incorrect. This statement was already in the previous draft form but did not specify any time period. However, no instructions have been published yet by the IRS.
JPMorgan exiting transition management in EMEA and US
JPMorgan will close its transition management businesses across the US, Europe, Middle East and Africa. The revelation comes less than a week after it was announced that Credit Suisse had ceased bidding on US transitions and was closing at least part of its transition management business.
Read more...
Safe and profitable markets?
At a recent conference I took one side of a debate on the motion "This house believes new regulations will deliver safe and profitable capital markets". The specific regulations weren't defined, but assumed to include Dodd Frank, EMIR and others. The focus of regulators in all these cases isn't to create profit opportunities of course, so the emphasis I put on the debate was safety. One catalyst for new regulations was 2008, and the impact on what the Americans call 'main street', where ordinary people had to fund bail-outs of various banks to the tune of billions or trillions of dollars. In this case, does Dodd Frank and EMIR insulate Main Street from future crises? Can we each explain to our families who don't give a hoot for derivatives that banking is now under control? Bill Hodgson, principal, The OTC Space, reports.
Read more...Aon terrorism survey highlights growing risk
Aon Risk Solutions's latest survey/global map of terrorism and political violence points to a continued threat of a terrorist attack or political violence as 44% of countries measured have an identifiable risk of terrorist attacks.This trend, says Aon, is especially prevalent in African and the Northern African countries. Despite 19 countries showing improved terrorism and political violence ratings, including the United Kingdom and Germany, data and analysis reflected by the map suggest continued and growing awareness is needed for businesses looking to expand.
Read more...Northern Trust Hedge Fund Services to streamline Form PF
Northern Trust Hedge Fund Services has launched an online regulatory module to streamline the preparation and submission of Form PF filings. Form PF is a new SEC rule that requires private fund advisers to report regulatory assets under management to the Financial Stability Oversight Council (FSOC), an organisation set up under Dodd-Frank in order to monitor risks within the financial sector.
Read more...The US dollar rises amid strong sales and employment indicators
The pound (GBP) continues to slide versus the US dollar (USD) as the American economy shows signs of a sustained recovery. The USD took advantage of solid US employment numbers after the unemployment claims fell to a five-year low. The improved employment outlook has raised speculation that the US Federal Reserve could wind up its quantitative easing (QE) program earlier than expected.
Read more...Canada's TMX Group posts profit in first quarter
Canada’s TMX Group has posted a profit of C$37.8bn for the first quarter of 2013 after a net loss in the same period last year. The turnaround by the operator of Canada’s major stock exchanges comes after a change in ownership late last year and the consolidation of various platforms.
Read more...Give vital input into our June 2013 Collateral Management roundtable, sponsored by Clearstream.
Please answer the following questions:
Current IssueSpecial Report
White Paper
Bank of Japan - Trends in and challenges for the Money Market in Japan
Download PDFView all WhitepapersBlogs
Tuesday, 21 May 2013 13:00‘Fearful’ day of trading ahead for Dow JonesEuropean equities opened a few points lower as fear of a QE slow-down ensues. Across the pond yesterday various Fed Presidents gave their views on…
Tuesday, 14 May 2013 14:27The US dollar rises amid strong sales and employment indicatorsThe pound (GBP) continues to slide versus the US dollar (USD) as the American economy shows signs of a sustained recovery. The USD took advantage…
Tuesday, 21 May 2013 12:56How should the jobs crisis in the eurozone be fixed?Judging from the unemployment figures released last month (i.e. a record 12.1 percent for the whole region), there is a noticeable jobs and growth crisis…
Monday, 15 April 2013 12:30Africa Calling Even today many people still refer to Africa as a single entity. This huge and diverse continent is often thought of in very generalised terms…
Tuesday, 07 May 2013 16:42Five answers marketing needs from complianceMarketing/investor relations teams clearly play an important role in any firm. To find investors willing to make substantial allocations, they need messaging that is simple,…
Most Read News
- State Street partners with the SEI Master TrustState Street Global Advisors has teamed up with the SEI Master Trust – a pension scheme used to meet auto-enrolment…
- State Street’s SPDR launches new dividend ETFsState Street’s exchange-traded funds (ETF) platform SPDR has launched two new ETFs on the Deutsche Borse, the SPDR S&P Global…
- UK Supreme court ruling on balance sheet test for insolvencyThe guidelines laid down by the English courts for applying the balance sheet test for insolvency affects not only whether a…
- Markit targets South African firms with risk analytics toolsMarkit has teamed up with management consultant IQ Business in a bid to bring its risk analytics services to both…
Most Read Articles
- Poll reveals appetite for securities lendingSecurities lending participants believe the risk-reward profile is still worthwhile for beneficial owners, despite regulatory constraints and a flat yield…
The repo desk, your new best friend foreverThe importance of the Repo desk has moved up a gear, due to the regulators enthusiasm for margining, likewise a…
A head start for HFT; or a downward spiral?Following a year's worth of negative press and falling profits, high-frequency trading proponents will likely continue to seek workable regulatory…
The meaning of life & execution consultingIn October, a group of leading asset management firms’ heads of dealing gathered in London. Asked what execution consulting meant…
2013 - The year client clearing becomes a realityWith the arrival of mandatory central clearing for ‘standardised’ OTC derivatives there will be some profound effects on the functioning…
Upcoming events
- Transition Management Solutions 2013
This concise afternoon seminar on transition management is designed for pension fund trustees, beneficial owners, asset management firms, risk and treasury professionals.
Seminar: June 6th 2013, 2pm to 6pm
Monkwell Square,
Wood Street,
London EC2Y 5BL
