Wealth Management
Top stories summarized by our editors
12/14/2017

Feb. 5 is the enactment date for two new Financial Industry Regulatory Authority rules to help advisers protect their elderly clients from financial abuse. An amendment to an existing rule will make it compulsory to ask clients for a trusted contact who can be contacted if necessary, while the second rule will enable brokers and advisers to freeze a payment from an elderly person's account for up to 25 days if a problem is suspected.

12/14/2017

Returns for 2017 through November are at 1,641% for hedge funds that trade in cryptocurrencies, surpassing those of other hedge fund strategies, according to Hedge Fund Research. Two indexes introduced by Hedge Fund Research track the performance of around 20 hedge funds that invest in blockchain technology and cryptocurrencies.

12/14/2017

South Korea said it might impose a capital gains tax on cryptocurrency trades and that it will prohibit minors from creating accounts for trading via cryptocurrency exchanges. The move comes as Philip Lowe, governor of Australia's central bank, described the focus on bitcoin and similar currencies as "speculative mania."

Full Story:
Reuters
12/14/2017

The UK Treasury's recent Investment Management Strategy II Report focuses in part on the current global model for delegation of portfolio management, and it says the Financial Conduct Authority is striving to maintain the model as the "global norm." Dechert lawyers write that "[t]he government is of the view that the UK offers an attractive tax regime for its UK-domiciled funds," though there is room for more growth in the asset-management industry by taking steps such as updating tax rules.

Full Story:
Lexology
More Summaries:
Financial Conduct Authority
12/14/2017

More investors are anticipated to return to nontraded real estate investment trusts in 2018. That would reverse a trend that saw fundraising for nontraded REITs hit an expected $4.2 billion in 2017, its lowest level in more than 15 years.

More Summaries:
real estate investment
12/14/2017

KKR & Co., a global investment firm, and alternative investment manager FS Investments have agreed to a partnership that will result in a business development company with $18 billion in combined assets, making it the largest in the market. The deal also means that FS will end its partnership with Blackstone Group LP.

Full Story:
Reuters
12/14/2017

The net asset value per share at KBS Real Estate Investment Trust III, a publicly registered nontraded real estate investment trust, has been approved at $11.73 per share of common stock. That new figure represents a 10.3% jump from last year's valuation.

More Summaries:
common stock
12/14/2017

S2K Financial Holdings LLC and Colony NorthStar, a publicly-traded real estate investment trust, have reached a nonbinding agreement to form Colony S2K Holdings, a broker-dealer retail distribution business. The investment product slate of both firms would be distributed by the combined brokerage platform.

12/14/2017

For his work in Chicago's real estate industry, Dan Wagner, a Wheaton, Ill., Realtor, has won the National Association of REALTORS® Commercial Award. Wagner, who is senior vice president of government relations for the Oak Brook-based Inland Real Estate Group of Companies, is a member of the Investment Program Association's Public Affairs Committee and part of the Real Estate Roundtable's 1031 Like-Kind Exchange Coalition.

Full Story:
RealEstateJournal
12/14/2017

In a letter to the Securities and Exchange Commission, the Insured Retirement Institute asked the SEC to skeptically review the Labor Department's fiduciary rule, keeping in mind the differences between annuities and equities. "The SEC should preserve access to annuities and other valuable financial products and services by rejecting the DOL's paternalistic view of individuals," the letter says.

Full Story:
PlanAdviser online