NEWSNews

German asset manager DWS has agreed to pay US$19mn to settle charges brought by the US Securities and Exchange Commission (SEC) over greenwashing allegations, the highest penalty related to environmental, social and governance criteria against an investment adviser imposed to date by SEC. The company, majority-owned by Deutsche Bank, was charged by the US SEC...

AI apps link to accounts to assist with spending, saving, debts and more. Most ordinary consumers don’t have access to a personal financial adviser, but a growing number of AI services are promising to change that by offering tools to help spenders track their expenditure and give advice on how best to manage their money....

US SEC would require 80% of a fund’s portfolio to match its name. For the protection of investors. US financial watchdogs are pushing ahead with a crackdown on deceptive fund names, despite industry warnings that it will discourage stock picking, violate free speech protections and force funds to sell assets at a loss when markets...

Consolidation in private equity is rife right now, with deals this month including CVC’s purchase of a majority stake in Dutch infrastructure investor DIF Capital Partners, and Bridgepoint’s acquisition of US-based renewables specialist Energy Capital Partners. One leading European private equity firm has a particularly stark prediction for how this wave of dealmaking might whittle...

Government officials and a growing number of investors believe the Federal Reserve’s interest rate rises will not damage the US economy significantly. But investment chiefs at two of the world’s largest asset managers are not so optimistic. FT spoke to investment chiefs at two of the world’s largest asset managers, BlackRock and Amundi, who warned...

JPMorgan analyst Nikolaos Panigirtzoglou explained in a note last week that the U.S. Securities and Exchange Commission (SEC) may be forced to approve several spot bitcoin exchange-traded funds (ETFs) after a court ruled in favor of Grayscale Investments regarding the crypto asset manager’s proposal to convert its bitcoin trust into a spot bitcoin ETF. “The...

Source: Financial Times The London Stock Exchange Group has drawn up plans for a new digital markets business, saying this will make it the first major exchange to offer extensive trading of traditional financial assets on the blockchain technology best known for powering cryptocurrency. The company had been examining the potential for a blockchain-powered trading...

Source: Financial Times   Combination of stronger US economy in 2023 and stickier inflation trigger downgrades for next year. Persistently higher interest rates in major economies mean global growth is likely to slow next year after outperforming expectations so far in 2023, economists say. Output will expand 2.1 per cent in 2024, according to an...