SEC-FINMA - Swiss Wealth Managers Can Serve US Clients Again

SEC-FINMA Accord: Swiss Wealth Managers can once again access the U.S. market in the U.S.

Key Implications:

• Direct access to U.S. clients and markets is restored

• New process for transmitting sensitive documents, allows SEC inspections in Switzerland

After years of regulatory deadlock—rooted in conflicting data privacy standards and oversight requirements—the recent agreement between the U.S. Securities and Exchange Commission (SEC) and FINMA, the Swiss Financial Market Supervisory Authority, means Swiss asset managers are once again able to register with the SEC and access the world’s largest wealth management market.  

This is a long-awaited breakthrough.

They had to do it… Is This The Top?

The WSJ had this on their site today… 

U.S. households’ stock allocations have steadily inched up this year, according to JPMorgan estimates, and recently accounted for around 42% of their total financial assets. That is the most on record in data going back to 1952. 

Americans have rarely been this giddy about the stock market.

They are piling into stocks as major indexes reach new highs and placing bets that the rally that has driven the S&P 500 up 18% this year has more room to run. 

The surging stock market has minted millionaires and helped send many Americans’ net worth sharply higher. As of the second quarter, the number of 401(k) retirement accounts at Fidelity Investments worth at least $1 million reached around 497,000, according to the firm. That is up 31% from a year ago and a record high.  

 Maybe it's time to take some chips off the table?

Read the article here:

https://www.wsj.com/finance/stocks/americans-are-really-really-bullish-on-stocks-ceee798b?st=28wr0nche1s1lm8&reflink=desktopwebshare_permalink

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#PrivateEquity Capital Raising for #Mining falls to 8-year low

Only four unlisted funds closed last year, raising a combined $300 million for investing in the mining sector. That's down from $2.5 billion in 2018 and nowhere near the peak of 2012, when eight funds procured a combined $4.2 billion

Tembo Capital's second mining fund accounted for the bulk of last year's fundraising. The London-based fund, which focuses on junior and mid-tier mining projects primarily in Africa, closed on $177 million in March. 

There are currently 14 funds in the market targeting the mining sector, seeking a combined $7 billion in capital. 

What do you want? #RenewableEnergy. When do you want it? Now!

Renewables are a public opinion juggernaut. Being against them is no longer an option. The industry's best and only hope is to slow down the stampede a bit (and that's what they plan to try).

100 percent renewables is a wildly popular goal

The core of the industry's dilemma is captured in this slide (on the left is the industry perspective):

EEI

Utilities don't think it is wise or feasible to go 100 percent renewables. But the public loves it.

And I mean loves it. Check out these numbers from the opinion survey:

In our polarized age, here is something we almost all agree on: Renewable energy is awesome.

Here's the most striking slide in the presentation:

EEI

In case you don't feel like squinting, let me draw your attention to the fact that a majority of those surveyed (51 percent) believe that 100 percent renewables is a good idea even if it raises their energy bills by 30 percent.