Month: October 2017

Tight Inventory Spurs Prices

Private Finance – Tight Supply Spurs Prices
 Kiplinger’s latest forecast on housing starts and home sales
Kiplinger Private Finance – https://www.kiplinger.com/article/affair/T019-C000-S003-housing-market-forecast-housing-starts-home-sales.html

Millennium Settles Charges of Illegal Short Selling in Advance of Stock Offerings

Banking News – Millennium Settles Charges of Illegal Small Selling in Advance of Stock Offerings
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Investment advisory firm Millennium Management LLC has agreed to pay more than $630,000 to settle charges that it shorted U.S. stocks in companies schooling follow-on offerings and then illegally bought shares in the follow-on offerings.   

An SEC investigation found that Millennium debased an anti-management provision of the federal securities laws known as Rule 105 on four occasions in 2012.  Rule 105 prohibits small selling an equity wellbeing during a top secret period (commonly five affair days before a covered public donation) and then purchasing that same wellbeing through the donation.  By illegally purchasing shares in the follow-on offerings, Millennium reaped $286,889 in illicit profits.

“Millennium customary and maintained certain fiscal proclamation that poorly participated in public offerings despite other firm fiscal proclamation being small the noteworthy securities,” said Sanjay Wadhwa, Senior Normal Boss of the SEC’s New York Regional Office.  “We will take up again to actively surveil for, and charge, violations of Rule 105 where apt.”

Millennium must pay disgorgement of $286,889 plus appeal of $51,820.11 and a penalty of $300,000 for a total of $638,709.11.  Without admitting or denying the findings in the SEC’s order, Millennium agreed to stop and desist from violating Rule 105 in the future.

The SEC’s investigation was conducted by Nathaniel I. Kolodny, Elizabeth Butler, and Thomas P. Smith Jr.  The case was supervised by Mr. Wadhwa. 

SEC.gov Updates: Press Releases – https://www.sec.gov/news/press-release/2017-203

Brexit/City job cuts: Oliver’s army

Banking News – Brexit/City job cuts: Oliver’s army
&nbspConsultants predict the loss of 75,000 jobs, but forecasts of shake-outs are often incorrect
Fiscal Times – Fiscal Air force – https://www.ft.com/content/d4d43b62-be43-11e7-b8a3-38a6e068f464

Retirees Need to Face the High Cost of Bad Luck

Private Finance – Retirees Need to Face the High Cost of Terrible Luck
 When you’re working and the stock market plunges, it’s a fleeting problem. But if you’ve just retired, or are about to, then it could devastate your retirement savings. It’s called “system of returns risk.”
Kiplinger Private Finance – https://www.kiplinger.com/article/investing/T047-C032-S014-retirees-need-to-face-the-high-cost-of-terrible-luck.html

Can You Afford $72,000 a Year for Long-Term Care?

Private Finance – Can You Afford $72,000 a Year for Long-Term Care?
 That’s what one of my own family members pays, and it’s not unusual. All needs a solid long-term care plot. Here are four ways to layer physically with safeguard.
Kiplinger Private Finance – https://www.kiplinger.com/article/retirement/T066-C032-S014-can-you-afford-72-000-a-year-for-long-term-care.html

Raising Cash to Make Hurricane Damage Repairs

Private Finance – Raising Cash to Make Cyclone Hurt Repairs
 Many cyclone victims are still waiting for payments from insurers or catastrophe help from FEMA to make home repairs. In the meantime, here are ways to raise money to get fixes under way.
Kiplinger Private Finance – https://www.kiplinger.com/article/real-estate/T029-C001-S003-raising-cash-to-make-cyclone-hurt-repairs.html