IRS Seeks to Track Down Cryptocurrency Tax Scofflaws
Court grants summons to identify taxpayers using Circle Internet Financial to conduct cryptocurrency transactions.
News
Coinbase Has a Splashy Debut, Bitcoin Is Soaring … But Fund Managers Are Downbeat
Mutual fund chiefs overwhelmingly think Bitcoin is a bubble that will pop, BofA survey shows.
Dalio’s Bridgewater Associates Appoints Two Investment Chiefs to Head Sustainability Venture
Karen Karniol-Tambour was formerly head of research at the hedge fund; Carsten Stendevad was previously chief executive at ATP.
Endowment Index Rises 4.43% in First Quarter
Strong equity markets helped index outperform benchmark 60/40 index.
A New Tech Bubble Is Poised to Pop, Warns Bernstein
Profitless companies with soaring stocks, like Pinterest and Snap, are flirting with trouble, the firm’s analysts say.
Norway Pension Giant Asked to Shed 25% to 30% of Companies from Index
Finance Ministry calls for the Government Pension Fund Global to drop up to 2,200 equity investments.
SEC Finds Potentially Misleading, Unproven Claims by ESG Funds
Agency issues risk alert over poor disclosure practices by some sustainable investment product providers.
US Corporate Pension Funding Nudges Higher in FY 2020
Asset returns of 13.4% offset plunging discount rates to lift funded levels to 88.4%.
Florida Senate Passes Bill to Move Most State Workers to DC Plan
Opponents say the proposed legislation attempts to solve a problem that doesn’t exist.
Illinois Governor Signs Chicago Firefighters’ Pension Bill into Law
Critics say it will more than double the city’s annual pension costs to $30 million.
Extortionist Pleads Guilty to Crypto Firm Shakedown
Michael Hlady, who claimed to be part of the FBI, CIA, and NSA, threatened to ‘destroy’ a startup.
MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The crown prince’s ambitious plan for the Public Investment Fund would change the kingdom’s dependence on oil while creating the world’s largest pool of institutional money, but questions remain.
Look Out: Higher Volatility Is Gonna Hit US, UBS Says
Virus jitters, higher growth and inflation, and a record-setting market will amp up the fear gauge, the bank warns.
More Investors Are Allocating to Emerging Alternatives Managers
The lack of in-person meetings did not dampen interest in smaller firms, which are putting themselves out there through Zoom.
Funded Levels of Canadian DB Plans Climb to 20-Year High
Surging bond prices helped boost defined benefit plans’ funded ratios to 124%.