Dismal's Smacks

🌙 ☀️

Sign in Subscribe

Latest

William Galvin, Massachusetts’ top securities regulator sent JPMorgan, Morgan Stanley, Tradier Brokerage, US Tiger Securities, E-Trade, Savvy Advisors & Hearsay Systems a letter asking how they use AI

Do they ensure that the AI will not put the interests of the firm ahead of their clients? Sources: https://www.investmentnews.com/galvin-launches-investigation-into-brokers-use-of-ai-240703 https://www.reuters.com/technology/massachusetts-regulators-launch-probe-into-ai-securities-industry-2023-08-03/ TLDRS: * The state of Massachusetts is concerned about what it calls a growing and potentially unchecked use of artificial intelligence

Since the introduction of the Supplementary Leverage Ratio in 2018, most of the top six U.S. bank holding companies have kept SLRs over the 5% mark.

However, recent trends show these ratios nearing the minimum 5% requirement, as total assets rise faster than Tier 1 capital. Supplementary Leverage Ratio: Source: Board of Governors of the Federal Reserve System, Consolidated Financial Statements for Holding Companies (Form FR Y-9C) Total Leverage Exposure: Note: Total leverage exposure is the

S&P Global: U.S. corporate bankruptcies rise this year rise to second-highest level since 2010. July ranked as the second-worst month of 2023 (so far).

US corporate bankruptcies rose again in July as high interest rates and a challenging operating environment continue to push US companies over the brink. S&P Global Market Intelligence recorded 64 corporate bankruptcy filings in July, the largest monthly total since March and more filings than in any single

Janet Yellen

June marked the 13th consecutive monthly net outflow for the hedge fund industry. Investors removed an estimated net $13.12 billion from hedge funds in June.

Hedgies R Fuk Alert! June marked the 13th consecutive monthly net outflow for the hedge fund industry. Investors removed an estimated net $13.12 billion from hedge funds in June. From 1/1/2022-6/30/23, Investors have removed $157.98 billion from hedge funds. Highlights: * June 2023 witnessed the

Rule 17Ad-3(b) mandates registered transfer agents notify the CEO of each issuer they serve if the agent fails to meet certain performance standards on 75% of items for 2 consecutive months.

1 transfer agent is called out as impacted by the rule & required to report. Wut mean?: * The rule mandates registered transfer agents to notify the CEO of each issuer they serve if the agent fails to meet certain performance standards on 75% of items for two consecutive months. This

rate hike

Inflation Alert! Bank of England raises interest rates to highest level since the Great Financial Crisis.

Highlights: * The BoE decided to raise the Bank Rate by 0.25 percentage points to 5.25% with a 6-3 vote. * New projections assume the Bank Rate will peak at just over 6% and average just under 5.5% over the next three years. * Economic growth has been steady, but

A request for extension of the previously approved collection of information for Rule 206(4)-6, the proxy voting rule, to address an investment adviser’s fiduciary obligation to clients who have given the adviser authority to vote their securities.

Wut Mean?: * The SEC has submitted a request to the Office of Management and Budget (OMB) to extend a previously approved information collection titled “Rule 206(4)-6” under the Investment Advisers Act. This proxy rule is about investment advisers who have the authority to vote on their client'