Wealth Management
Top stories summarized by our editors
4/26/2018

Commodity Futures Trading Commission Chairman J. Christopher Giancarlo wants to make swaps trading more flexible and plans to introduce rules and revisions to the Dodd-Frank Act as early as July, says Amir Zaidi, director of the Division of Market Oversight. Giancarlo likens his plan to a software upgrade.

4/26/2018

An academic paper published by ISDA says regulations on liquidation horizons for noncleared derivatives would be more appropriate if they were determined by a position's size as related to an asset's market depth. Panelists at ISDA's Annual General Meeting in Miami on Wednesday examined the findings of the paper, which also recommends that initial margin calculations for noncleared derivatives involve a two-step process that accounts for hedging before the liquidation date.

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SmartBrief/Finance
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ISDA
4/26/2018

Hedge fund managers who have not reviewed their administrative and depositary arrangements since the 2014 implementation of the Alternative Investment Fund Managers Directive might be paying higher-than-necessary fees for such services, according to INDOS Financial. Hedge funds should, when possible, seek "to unbundle administration and depositary contracts and thus to achieve a better deal for the manager and, more importantly, investors," INDOS CEO Bill Prew said.

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Global Custodian
4/26/2018

Individual investors are looking to use real assets to diversify their portfolios, and the value of the marketplace for nontraded REITs is poised for growth, said Tony Chereso, president and CEO of the Institute for Portfolio Alternatives. Chereso also discussed IPA's policy stance in a conversation that took place before the organization held meetings with legislators.
Real Estate Finance & Investment (trial subscription required) (4/19)

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IPA, Tony Chereso
4/26/2018

The House of Representatives has passed a bill that would raise Tier 2 Regulation A+ offering limits to $75 million for any 12-month period, but some observers have found that the current $50 million cap "has not been the limiting factor in making Reg A+ the way of the future," writes Evan Hudson. Other obstacles, including requirements for state notice filings and declining interest in crowdfunding, have been holding Reg A+ back, Hudson writes.

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House of Representatives
4/26/2018

Blackstone Group is seeing opportunity in areas such as US and Spanish housing, Indian office buildings and global logistics as it anticipates increasing interest rates. Meanwhile, the firm is also courting individual investors and training financial advisors to better understand its products.

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Blackstone Group
4/26/2018

Ameriprise Financial reported net income of $594 million in the first quarter, an increase of 47% from last year. The company also announced an 8% increase in its regular quarterly dividend.

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Ameriprise Financial
4/26/2018

Strategic Storage Trust II has set an initial asset value of $10.65 for its Class A and Class T common shares. That represents an increase of 4.2% compared with last year.

4/26/2018

Almost all advisors say they recognize the risk of not having a written succession plan, but three-quarters of them don't have one, according a study from the Financial Planning Association and Janus Henderson Investors. Among advisors within five years of retirement, 60% don't have a written plan.

4/26/2018

Under the Tax Cuts and Jobs Act, the federal estate tax may not apply to most taxpayers' personal property, but "there are still compelling personal, legal and tax reasons to value and sell this property," writes Sherri Cohen of Bonhams. Cohen discusses the elimination of estate and gift tax for most people, the unchanged step-up tax treatment, and state estate and inheritance taxes.

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