Pacific Investment Management Company LLC (PIMCO) has agreed to a $9 million settlement with the Securities and Exchange Commission (SEC) over two enforcement actions concerning alleged disclosure violations and policies and procedures woes directly related to two funds that the bond giant oversees. “In the first action, the SEC found that, from September 2014 to… Read More >>
OCC Issues Guide for LIBOR Transition Assessment
Risk-Based Approach Urged for LIBOR Replacements As banks and other financial services organizations move away from the London InterBank Offered Rate (LIBOR), the Office of the Comptroller of the Currency (OCC) has issued a bulletin that includes a self-assessment guide to help firms evaluate their preparedness for the end of LIBOR. In the “LIBOR Transition:… Read More >>
‘HUB’ Launched to Overhaul Asset Management Ops
Pimco, State Street, Man Group & Others Back HUB A new technology and services provider, dubbed HUB, is being launched by investment manager Pimco, U.K. firm Man Group, custodian State Street, vendors IHS Markit and Microsoft, and consultancy McKinsey & Co. in an effort to offer a cloud-based platform “built by asset managers for… Read More >>
CFTC’s Division of Enforcement Issues First Manual
Manual Brings New Transparency to DOE In a first for the CFTC, the regulator’s Division of Enforcement (DOE) is publishing and distributing an Enforcement Manual that provides an overview of the CFTC and DOE. The manual is also intended to establish general policies and procedures to guide the work of DOE staff in “detecting, investigating,… Read More >>
Bill Gross to Retire from Janus Henderson Investors
A pioneer of fixed income investing William H. (Bill) Gross, 74, will be retiring from Janus Henderson Investors, marking the end of a four-decade career that included his co-founding of the mutual fund giant Pacific Investment Management Company, a.k.a. PIMCO, in 1971. After he leaves Janus Henderson in March, Gross will be managing his personal… Read More >>
CME Launches Ether-Dollar Reference Rate & Index
Crypto Facilities to Provide Calculations for New Services CME Group, the derivatives marketplace, and Crypto Facilities Ltd, a cryptocurrency trading platform, report the launch of the CME CF Ether-Dollar Reference Rate, which will provide a daily benchmark price in U.S. dollars at 4 pm London time, and CME CF Ether-Dollar Real Time Index, which will… Read More >>
2018 Predictions: Global Markets to Expand Despite Jolts
(Editor’s Note: Predicting what the financial markets, regulators and industry participants will do in 2018 is a challenge as there are so many variables that could undercut prognostications. Yet in a bid to offset chaos, FTF News has put together a round-up of opinions and initiatives from researchers, analysts and executives at the TABB Group,… Read More >>
Election Clouds the Future for Theresa May & Brexit
For the second time within a year, U.K. voters went to the polls and produced a surprise result. Last June, it was Brexit and this time around it is a hung Parliament as the incumbent Tories missed the 326 mark that they needed to form a government. Despite calls for Prime Minister Theresa May to… Read More >>
PIMCO and Bill Gross Sign Peace Accord
While I was hoping for more fireworks, the mutual fund giant Pacific Investment Management Company, a.k.a. PIMCO, quietly closed the William H. (Bill) Gross Departure chapter, which was the cause for a great deal of publicity and turmoil for Gross and the firm. To say the least, Gross and the firm he helped found have… Read More >>
PIMCO and SEC Agree to Settle ETF Investigation
Investment management giant PIMCO is agreeing to a nearly $20 million settlement with the SEC in order to end an investigation into charges that its investors were given misleading information about the performance of actively managed, exchange-traded funds (ETFs), and were not given the correct value of key fund securities. SEC officials also announced late… Read More >>
