Brokers and investment advisers should “closely review” their policies and procedures for supervising their remote workers during the coronavirus pandemic, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations said in a risk alert Wednesday. (Bloomberg Law | Aug 12)
Fannie Mae and Freddie Mac are planning to charge an additional fee on most mortgage refinance loans that could raise costs for borrowers trying to take advantage of historically low rates in an uncertain economy. The mortgage giants, which have been under government control since 2008, announced the plan late yesterday, saying the new 0.5% fee is meant to mitigate their risk in light of the Covid-19 pandemic. It would apply to most refinances involving the companies. (Bloomberg Markets | Aug 12)
Long-term investors – those who have perpetually flagged the kind of systemic and workforce issues that now face companies everywhere – are having an outsized influence during this global crisis. Part of that is the surge in interest in ESG investing. (Bloomberg Green Finance | Aug 12)
Betting against the dollar is looking increasingly like a crowded trade that’s due for a squeeze, some hedge funds say. If they’re right, the investors that have piled into short positions – now at a two-year high – could see their summer gains evaporate. The most popular trade in foreign-exchange markets since the Federal Reserve’s all-out intervention in late March has showed no signs of abating with Wall Street predicting further dollar declines. (Bloomberg Markets | Aug 12)
The SEC's consolidated audit trail passed two major milestones this summer without any major hiccups, but concerns about cybersecurity persist from many industry members. (Pensions & Investments | Aug 10)
