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Biden to forgive $10,000 in student debt
NEWS REGULATION AND LEGISLATION AUG 24, 2022
Biden to forgive $10,000 in student debt

The plan would set a $125,000 income cap for individuals and $250,000 for households, and would provide up to $20,000 in loan forgiveness for those who also received Pell Grants.

Offshore loophole helps Americans evade taxes, Senate report says
NEWS REGULATION AND LEGISLATION AUG 24, 2022
Offshore loophole helps Americans evade taxes, Senate report says

Setting up shell companies abroad and registering them with the IRS as offshore financial institutions lets Americans sidestep FATCA, according to the report.

Hedge fund guru Julian Robertson dies at 90
INVESTING ALTERNATIVES AUG 23, 2022
Hedge fund guru Julian Robertson dies at 90

The billionaire founder of Tiger Management became one of his generation's most successful hedge fund managers and a mentor to a wave of investors known as Tiger Cubs.

Free trading costs retail investors $34 billion a year, study says
INVESTING EQUITIES AUG 23, 2022
Free trading costs retail investors $34 billion a year, study says

An academic study finds retail stock trades are getting done at significantly different prices, depending on the brokerage.

Cheap ETFs suck billions from bigger siblings
INVESTING MUTUAL FUNDS AUG 22, 2022
Cheap ETFs suck billions from bigger siblings

The world's largest ETF, the $387 billion SPDR S&P 500 Trust, continues to fall victim to the trend as money managers gravitate to its lower-cost clone.

BlackRock says SEC proposal on ESG disclosures will backfire
INVESTING ESG AUG 22, 2022
BlackRock says SEC proposal on ESG disclosures will backfire

The asset manager said requiring new disclosures for funds that just consider ESG criteria among many other factors could muddle the situation.

Vanguard offering passive ESG funds that exclude controversial industries
INVESTING ESG AUG 18, 2022
Vanguard offering passive ESG funds that exclude controversial industries

The investing giant will offer two ETFs tied to indexes that track large corporates and small- to medium-sized businesses in both Europe and the US.

Morgan Stanley files to offer its own ETFs
INVESTING ESG AUG 17, 2022
Morgan Stanley files to offer its own ETFs

Decades after coining the term 'exchange-traded fund,' the firm plans to offer four socially conscious funds under the Calvert label.

Wall Street banks’ record fines reflect regulators’ frustrations over unmonitored messaging
YOUR PRACTICE FINTECH AUG 17, 2022
Wall Street banks’ record fines reflect regulators’ frustrations over unmonitored messaging

SEC, CFTC worried that messages were being completely lost and would ultimately make it harder to look for wrongdoing.

Fleming's Rockefeller plans to double number of adviser teams
NEWS RIAS AUG 17, 2022
Fleming's Rockefeller plans to double number of adviser teams

The firm, which currently has 85 teams, is focusing on growth in places that have seen influx of wealthy residents in recent years, such as Charlotte, North Carolina, and Austin, Texas.