University of Rochester President Resigns Amid Fallout of Harassment Claims Against Professor

Joel Seligman will resign as president of the University of Rochester as the school continues to grapple with fallout from complaints that the school bungled its response to allegations of sexual harassment by a professor.

Wall Street Journal, ‘Fiduciary Rule’ Poised for Second Life Under Trump Administration, Jan. 10, 2018

The Securities and Exchange Commission is accelerating work on its own version of the “fiduciary rule,” a regulation issued by the Labor Department that put restraints on brokers handling retirement accounts. The SEC’s effort would affect all brokerage accounts-not just those for retirement funds-and could ban brokers from calling themselves financial advisers unless they accept a strict duty of loyalty to clients.

U.S. SEC approves request to list quadruple-leveraged ETFs

NEW YORK, May 2 (Reuters) – The Securities and Exchange Commission on Tuesday approved a request to trade quadruple-leveraged exchange-traded funds, marking a first for the growing market for such products in the United States.

The request to list ForceShares Daily 4X US Market Futures Long Fund, under the ticker UP, and ForceShares Daily 4X US Market Futures Short Fund, under the ticker DOWN, was filed by Intercontinental Exchange Inc’s NYSE Arca exchange.

  • Securities and Exchange Commission (Release No. 34–79201; File No. SR-NYSEArca-2016-120)

In the absence of certain stop measures represented by options on futures contracts obtained by a Fund, if the Benchmark moves 25% or more on a given trading day(s) in a direction adverse to a Fund’s holdings, a Fund’s investors would lose all of their money.