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...being regulated as dealers”....
...Opposition may be more focused on the SEC’s “dealer rule”....
...*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com....
...“The dealer rule is indeterminate and leaves certain market participants uncertain of their need to comply with the dealer regulatory framework. Alternative asset managers are not dealers....
...In the US, which now makes up at least half of revenues, it is a top 10 futures dealer....
...PBs are one of the main links between traditional banks and shadow banks, offering services like custody, margin loans, derivatives, research and introduction to companies and investors....
...Morningstar publishes its own estimates, which it admits are “conservative” and only include third-party model providers, not broker-dealers or wirehouses....
...As a simplified illustrative example, suppose a parent has trading subsidiaries A and B that are not regulated as dealers....
...Dealers who are long gamma are driven to buy equities when the market is falling and to sell equities when the market’s going up....
...Alphaville has heard that some dealers have been put in the “penalty box” by big private capital firms if they give on-screen quotes that forces marks down....
...However, he added that “alternative asset managers are not dealers, and MFA is concerned that the rule may not go far enough in excluding them and private funds from being regulated as dealers”....
...At first, regulators wanted to include hedge funds and leveraged traders, but have since pared back that requirement to FICC clearing members, brokers/dealers, and broker-dealers....
...Shotgun M&A was a popular response, with Bear Stearns, Merrill Lynch, Wachovia, HBOS and Alliance & Leicester all moving overnight to new ownership....
...The FCA said that the arrangements gave car finance brokers and dealers an incentive to raise interest rates on customer deals....
...The issue is the loans that used-car dealers offer their buyers, funded by banks....
...Carmakers and other non-bank lenders offer the majority of car financing services, according to JPMorgan analysts....
...Brothers have plummeted almost 60 per cent since the FCA announced in January that it was investigating discretionary commissions on car financing deals dating back a decade, saying they gave lenders and dealers...
...Brûlé started looking for a Paris base two years ago: a place to welcome clients as the demand for his services continues to pick up on this side of the Atlantic....
...Wells has a strong foothold in the sector outside New York dating back to 2004, when a pair of former Citi private bankers launched a law firm business at what was then Wachovia....
...Already, several of the major broker-dealers have approved bitcoin ETFs for sale on their platforms — although Vanguard has, notably, declined to offer any of the products....
...Further reading:— What is a primary dealer?...
...We want the US special services to think about how they can contribute to achieving the goals our special services are pursuing.”...
...She says the ETF industry was ripe for a professional network due to the multiple players involved, including asset managers, broker-dealers, index providers and exchanges....
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