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  • Speech By UK's Chancellor Of The Exchequer, Philip Hammond MP, At The Annual Investment Association Dinner

    Date 16/10/2018

    And of course - the immediate key to maintaining this ecosystem – is ensuring we get a good Brexit deal – and protecting markets from uncertainty during transition.

  • Remarks At The IDC - 2018 Fund Directors Conference, Dalia Blass, Director, SEC Division Of Investment Management, Chicago, IL, Oct. 16, 2018

    Date 16/10/2018

    Introduction

    Good morning. Thank you, Amy [Lancellotta], for that kind introduction, and thank you for inviting me to join you this morning.

    Early in my tenure as Director, the Division launched its Board Outreach Initiative. Through this initiative, we have had the opportunity to meet and engage in an informative dialogue with a number of fund boards and independent directors over the last year. I appreciate the opportunity to continue the dialogue with all of you at this conference. Since 1940, you have been entrusted to oversee key aspects of fund management on behalf of shareholders. The service you provide is more important than ever as funds now play a central role in the financial lives of many Americans. Today, over 100 million individuals representing nearly 60 million households own funds — that’s 45 percent of U.S. households. Over the last two decades, assets in mutual funds have grown from around $4.5 trillion to over $19 trillion, a growth of over 330 percent. During that same time period, ETF assets grew from $6.7 billion to over $3.6 trillion. This growth represents the earnings and investments of millions of Americans, who are saving for retirement, college tuition and other goals.

  • tZERO Issues Preferred tZERO Security Tokens - Blockchain Pioneer Completes Another Capital Markets Milestone

    Date 16/10/2018

    tZERO, the global leader in blockchain innovation for capital markets, today announced it has completed the issuance of preferred tZERO security tokens. Tokens were issued to investors who had fully funded signed agreements for future equity (SAFEs) prior to the August 6, 2018 close of the company’s Security Token Offering (STO). tZERO raised $134 million from over 1,000 global investors during its STO.

  • Federal Reserve Payments Study Finds U.S. Payments Fraud A Small But Growing Fraction Of Overall Payments

    Date 16/10/2018

    The value of fraudulent noncash payments in the United States rose significantly between 2012 and 2015--outpacing growth in noncash payments overall, according to a new report based on Federal Reserve Payments Study data. The study's survey of depository institutions found that the value of noncash payments fraud rose 37 percent from $6.1 billion in 2012 to $8.3 billion in 2015. Over the same period, the total value of noncash payments rose 12 percent from $161.2 trillion to $180.3 trillion.

  • ISDA Publishes Updated Model Netting Act

    Date 16/10/2018

    ISDA has published an update of its Model Netting Act, designed to provide a template that can be used by jurisdictions considering legislation to ensure the enforceability of close-out netting.