TrueMark has brought to Cboe Global Markets a defined-outcome exchange-traded fund that buys options linked to the S&P 500 Price Index. The TrueShares Structured Outcome (August) ETF protects against losses of 8% to 12% but does not cap gains. ETF (03 Aug.)
Brian Miller, US special inspector general for pandemic recovery, wants the Treasury Department to give his office "timely and unrestricted access" to documents related to a $700 million coronavirus relief loan to shipping company YRC Worldwide. The Congressional Oversight Commission has questioned whether YRC is an appropriate company to receive funds. Bloomberg (tiered subscription model) (03 Aug.)
The Securities and Exchange Commission expects to advance work this year on a revised advertising and solicitation rule for investment advisers, says Dalia Blass, director of investment management. The rule predates the internet and many market and technological advances, making an update "one of the harder proposals for us to bring together," Blass says. ThinkAdvisor (free registration) (03 Aug.)
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