Archegos is a wake-up call for family offices
Family offices traditionally were set up by wealthy families to manage their assets, along with handling taxes, estate planning and other chores. As the ranks of the rich expanded, so did the number of family offices.
April 26, 2021 2 MINS
The collapse of Archegos Capital Management late last month left big banks that dealt with Archegos with billions of dollars in losses. The firm’s spectacular meltdown has focused attention on the growth of family offices and led to calls for additional regulation.
Family offices traditionally were set up by wealthy families to manage their assets, along with handling taxes, estate planning and other chores. As the ranks of the rich expanded, so did the number of family offices.
(Corrects spelling of ‘Brian’ in 14th paragraph.)
FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. REUTERS/Shannon Stapleton
NEW YORK (Reuters) -An historic rally in share prices for smaller U.S. companies has slowed sharply in April after six months of strong gains, leading many investors to worry that the stock market as a whole may have already priced in a strong rebound from the pandemic.
“The easy money has been made for small caps and for the market overall,” said Doug Foreman, chief investment officer of fund manager Kayne Anderson Rudnick, who expects the broad U.S. market will offer “single-digit returns” for the rest of 2021.
Compliance, Culture And Evolving Regulatory Expectations, Speech By Mark Steward, UK Financial Conduct Authority Executive Director Of Enforcement And Market Oversight, Delivered At NYU Law School Date
Event: NYU Law School (Virtual)
Delivered: 31 March 2021
Highlights
The Senior Managers Regime (SMR) has changed the way firms allocate responsibilities, align those responsibilities to relevant controls and ensure oversight as to how these controls operate down the line.
The 5 Conduct Questions (5CQ), which start with ‘tone from the top’, are increasingly focussing on ‘tone from within’ which requires every person in an organisation to be personally accountable and engaged.
Every employee of a regulated firm is subject to individual conduct rules, which impose broad obligations.
As small-cap stocks lag, Wall Street worries about broad slowdown
By David Randall
By David Randall
NEW YORK (Reuters) -An historic rally in share prices for smaller U.S. companies has slowed sharply in April after six months of strong gains, leading many investors to worry that the stock market as a whole may have already priced in a strong rebound from the pandemic. The easy money has been made for small caps and for the market overall, said Doug Foreman, chief investment officer of fund manager Kayne Anderson Rudnick, who expects the broad U.S. market will offer single-digit returns for the rest of 2021.
Can accident-prone Credit Suisse ever turn the corner? moneyweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweek.com Daily Mail and Mail on Sunday newspapers.