Josina Kamerling, head of regulatory outreach at CFA Institute for the Europe, Middle East, and Africa region, reports on EU policy issues. She covers the May European Parliament election results, including commentary on the next European Commission president, the makeup of parliamentary committees, and how these developments will affect the implementation of the Markets in Financial Instruments Directive (MiFID).
For more information on these topics, listen to parts one, two and three of this podcast series:
Invesco has filed with the Securities and Exchange Commission for fixed-income exchange-traded funds investing in bonds with maturation dates of 2026 and 2028. The Invesco BulletShares 2026 High Yield Corporate Bond ETF and the Invesco BulletShares 2028 Corporate Bond ETF would link to indexes managed by Nasdaq and would trade on NYSE Arca. ETF (24 May.)
Disagreement about what kind of customs arrangement the UK wants after Brexit might leave an extension of the existing customs union with the EU as "the only viable option," a House of Commons committee says. The UK government has suggested two alternatives to a customs union extension, but its taxing authority says there isn't enough time to implement either by the end of the transition period in 2020. Politico (24 May.)
The Securities and Exchange Commission has voted to propose rules authorizing broker-dealers to make public research on exchange-traded funds, mutual funds and closed-end funds. The proposal would implement a law Congress passed last year. ThinkAdvisor (free registration) (24 May.)
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