The recent spate of natural disasters prompted United Capital's Joe Duran to look at the role advisors can play in helping clients deal with the unexpected. He offers three points to bear in mind, including that while preparation matters, the reaction to the situation is even more important.
While people under 30 often assign a low priority to saving for retirement, columnist Maya Kachroo-Levine notes they are at a crucial age with regard to their finances. With input from several advisors, she points out the value of starting to save early, being prudent with spending and being aware of savings-plan options.
The Securities and Exchange Commission said that in 2016, hackers gained access to its computer database containing potentially market-moving corporate information and might have used the information for illegal trading gains. The SEC said it concluded only last month that the cybercriminals might have used the data for trading.
The UK Financial Conduct Authority said it won't initiate formal action against companies that haven't fully complied with Europe's revised Markets in Financial Instruments Directive when it takes effect in January. But financial firms will be required to demonstrate they are making strides to achieve compliance, said Mark Steward, the FCA's executive director of enforcement and market oversight.
The Federal Reserve says it is confident enough about the US economy to raise interest rates further and to start reducing its $4.5 trillion balance sheet next month. The Federal Open Market Committee expects the economy to continue expanding at a moderate pace and the job market to keep strengthening.
The Federal Reserve likely will raise interest rates once more this year and will begin shrinking its $4.5 trillion balance sheet in October. The central bank, which has left its benchmark rate unchanged, forecasts low unemployment and a lift in inflation.
Americans are worried about not being able to retire, but few are doing much about it, according to a study by the Employee Benefit Research Institute. Advisers who use an active, personalized approach can loosen workers' tension.
Even a modest rate of inflation can cut substantially into your purchasing power in retirement, writes Eileen Ambrose. She cites staying invested in stocks and Treasury inflation-protected securities, or TIPS, in which the principal is adjusted for inflation, as potential solutions.
The European Commission is calling for an overhaul of financial regulation that would transfer many powers exercised by national governments to EU regulators after Brexit. One objective is to prevent hedge funds from setting up "letterbox" entities in Europe while effectively conducting most business from the UK, EU officials say.
The variation margin requirements in the new EU rules on foreign exchange trading will mandate larger collateral reserves, which traders say will make currency risk management more costly and difficult. Some observers say the regulations are essential to curb the type of trading that led to the 2008 financial crisis.
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