A key executive overseeing the iShares exchange traded funds (ETFs) business at BlackRock, Joseph Cavatoni, is leaving the firm, confirm officials at the asset manager who decline further comment on Cavatoni’s future. As head of the Americas iShares Capital Markets group, Cavatoni’s departure was made known to major media outlets via a memo shared internally… Read More >>
LPL Financial to Pay $3.4M to Settle REITS, ETF Probes
Broker-dealer LPL Financial will be paying $3.4 million in settlements and penalties after allegations that the firm failed to properly handle the sales and oversight of complex, leveraged exchange traded funds (ETFs) and non-traded, real estate investment Trusts (REITs). In a settlement with Massachusetts and Delaware, the firm will be paying approximately $2 million to… Read More >>
Fears Over Liquidity Risk Spur SEC, FINRA Into Action
Better liquidity risk management amid volatile markets has become the new byword for regulators. The SEC is trying to rein in liquidity issues for mutual funds and exchange traded funds (ETFs) while independent regulator the Financial Industry Regulatory Authority is targeting liquidity problems for broker-dealers, even citing the liquidity risks that “played a large role… Read More >>
