- The next generation of ETFs: Why every asset manager needs an ETF Strategy
11/14/13 | Asset management
Exchange traded funds (ETFs) have enjoyed two decades of explosive growth. Evolving and proliferating as they attracted new users, ETFs went from a single vehicle providing exposure to large cap US equities to thousands of products representing a dizzying range of asset classes and strategies. As ETFs reshape their environment all over again, asset managers and intermediaries alike will want to have strategies in place to deal with the changes sweeping across the competitive landscape.
- How global tax reforms might impact ETF efficiency: A look at the implications for ETF strategy and structuring
11/14/13 | Asset management
Due to their low costs and potentially greater tax efficiency, ETFs offer a very efficient return to investors. ETFs’ tax advantages have contributed to their strong competitive position and growth. But a rapidly changing tax environment will present challenges as governments around the globe seek to bridge budget deficits. By staying on top of these changes, sponsors can mitigate adverse effects while remaining compliant with changing global tax laws.
- ETFs: How innovators and regulators are shaping growth in the Asset Management industry
10/28/13 | Asset management
As Exchange Traded Funds (ETFs) enter their next phase of growth, much rests on the actions of the regulators. Innovation created ETFs and equipped them to achieve success through flexible, inexpensive and tax-efficient tracking of broad-based market indices. While growth in ETFs is set to continue, the pace of expansion likely will be impacted by regulations.
- PwC Mutual Fund Directors Roundtable: 2013 highlights
10/28/13 | Asset management
Professionals from PwC’s Asset Management practice and directors from the boards of some of the nation’s leading mutual fund groups gathered for informal discussions of the industry’s key issues and significant challenges. These talks generated important insights into what directors are thinking about in today’s evolving marketplace regarding valuation, risk management, board effectiveness, and other key issues.
WebcastPDP Live Webcast Series: Update on GIPS and Performance Measurement Reporting - October 30, 2013
The presenters will discuss perspectives on the current regulatory and global investment landscape as it relates to performance reporting, as well as insight on practical implementation of the most recent and proposed changes to the Global Investment Performance Standards (GIPS).
- PwC’s 2013 Investor Survey
9/25/13 | PwC Investor Resource Institute
What most concerns investors? What do investors expect of corporate directors? How do investors view the current quality of corporate disclosures? We asked investors about these issues, and the message received is clear: Investors want to know more about the risks that companies have identified, and how they are managing them. And investors are looking for more information.
Setting the standardSetting the standard - September 2013
9/25/13 | Assurance services
Welcome to the latest edition of Setting the standard. It includes the latest updates on the standard-setting activities of the FASB and IASB. Learn more inside.
- The Connected Advisor: The Rise of Digital and Social Advice in Wealth Management
9/3/13 | Asset management
This paper examines the four forces of change that are shaping wealth management - shifting demographics, changing client behaviors and expectations, rising technological innovations and emerging disruptive competition.
- Current developments for mutual fund audit committees - June 30, 2013
8/16/13 | Asset management
This edition of PwC's Current Developments for Mutual Fund Audit Committees covers insider trading and the risks to registered funds, SEC scrutiny of mutual fund distribution and marketing fees, and valuation.
- Money market funds: The SEC’s long awaited proposal
8/6/13 | Financial services regulatory practice
The SEC recently issued a proposed rule that would fundamentally alter money market fund regulation and disclosure.
- Asset managers: SEC and European regulators agree to share information and cooperate on oversight
7/24/13 | Financial services regulatory practice
The SEC and the European Securities and Markets Authority finalized a supervisory cooperation agreement on July 18th to allow regulators to share supervisory information about investment advisers doing business internationally.
- Derivatives: CFTC finalizes cross border guidance and extends timeframe for conformance – July 12th deadline met
7/24/13 | Financial services regulatory practice
The Commodity Futures Trading Commission continued its progress this week toward a scheme for regulating global swap transactions.
- The overhaul of lease accounting: Catalyst for change in corporate real estate
7/19/13 | Real estate
This PwC publication outlines financial reporting, economic, tax and regulatory issues which commercial real estate may face with the proposed new lease accounting model.
DatalineDataline: Responses are in on the FASB and IASB's financial instruments classification and measurement proposals (No. 2013-15)
7/1/13 | Assurance services
This Dataline provides a high-level summary of the of the comments received on the board's respective proposals.
Setting the standardSetting the standard -- What you need to know about the FASB's and IASB's standard setting activities -- June 2013
6/27/13 | Assurance services
This edition includes the latest information on the standard-setting activities of the FASB and IASB. Learn about key accounting and reporting changes being considered.
DatalineDataline: Investment companies – FASB modifies definition of an "investment company" (No. 2013-14)
6/25/13 | Assurance services
On June 7, 2013, the FASB issued amendments to ASC 946 that modify the definition of an investment company under US GAAP. This Dataline looks at the key aspects of the new guidance and shares our insights on applying it.
WebcastETF Hot Topics Webcast – July 31, 2013
Exchange Traded Funds (ETFs) continue to experience significant growth, both in the US and globally. Successful ETF sponsors will need to adapt to the increasing competitive landscape to operate in an efficient and cost effective manner.
In briefIn brief: FASB issues final standard on investment companies (No. 2013-30)
6/11/13 | Assurance services
On June 7, 2013, the FASB issued amendments to ASC 946 that modify the definition of an investment company under US GAAP. This In brief article provides an overview of the new guidance.
- Strategic Imperatives for Asset Managers
5/21/13 | Asset management
This paper presents a thematic introduction to the issues the asset management industry is facing, the key implications to asset managers, and the questions firms should be asking to best adapt their strategies and take advantage of these new and emerging industry demands.
Setting the standardSetting the standard -- What you need to know about the FASB's and IASB's standard setting activities -- March 2013
3/25/13 | Assurance services
Our Q1-2013 edition provides updates on the latest developments in revenue recognition, classification and measurement of financial instruments, impairment of financial assets, leases, insurance contracts, and more.
- Segment footnote disclosures (Insights from the investment community)
2/28/13 | PwC Investor Resource Institute
US accounting standards require public companies to disclose, in their financial statement footnotes, segment data based on the “management approach,” under which investors are provided with a view of the business through the eyes of management. Read more in this edition of Insights from the investment community.
- Demystifying the audit
2/20/13 | PwC Investor Resource Institute
This Insights for the Investment Community explains what the auditor does, what the auditor does not do, and how to better understand the audit opinion.
- How do the final FATCA regulations affect asset managers?
2/7/13 | Financial services
The US Treasury Department and the Internal Revenue Service (IRS) released their guidance on FATCA for the asset management industry, with a compliance deadline of January 2014. Key issues in implementation and other areas remain to be resolved.
- The text of the final Foreign Account Tax Compliance Act (FATCA) regulations in an easy to read format
1/24/13 | Financial services
The final FATCA regulations document from PwC's Global Information Reporting (GIR) practice is formatted with references in an easy to read format. The GIR team has developed this version of the regulations to give tax and compliance professionals an easier option to study and know the rules surrounding FATCA.
- An unsettled world: The changing world of cash equities and fixed income and how it is impacting asset managers and their service providers
1/10/13 | Financial Services Institute
The financial crisis and new capital and regulatory rules have forced asset managers to reduce fees and have increased the challenges for sell-side firms participating in the cash equities and fixed income execution to custody value chain. Find out how firms are changing their business models to adapt to these market changes.
DatalineDataline: Financial instruments classification and measurement - An update on the FASB's tentative approach to be exposed in Q1 2013 (No. 2012-21)
12/7/12 | Assurance services
Classification and measurement is an important part of the FASB and IASB’s joint project on financial instruments. The FASB expects to issue a revised exposure draft in the first quarter of 2013 for public comment. The board will likely ask for feedback on the amount of time needed to implement the changes before deciding on an effective date for the final standard. The IASB issued an exposure draft of its proposed changes to IFRS 9 in late November 2012 with a proposed effective date of January 1, 2015. The exposure draft has a 120-day comment period. This Dataline provides a summary of the boards' decisions that is based on the project summaries posted on their websites, our observations of their meetings, and our understanding of their intent.
- Current developments for mutual fund audit committees: September 30, 2012
11/16/12 | Asset management
This edition of Current Developments includes articles on the adoption of a new Auditing Standard by the PCAOB, regulatory highlights from a PwC Mutual Fund Directors Roundtable, and potential implications for mutual funds surrounding the uncertain fate of the 2001 and 2003 tax cuts.
PodcastPodcast: Balance sheet offsetting disclosures
In this podcast, a PwC Assurance senior manager summarizes the disclosure requirements under Accounting Standards Update 2011-11, Disclosures about Offsetting Assets and Liabilities (ASU 2011-11).
PwC comment letter (FASB)PwC Comments on Proposed ASU: Financial Services - Investment Companies (Topic 946)
2/16/12 | Assurance services
PwC is concerned about the significant differences between the Boards' respective proposals. For example, the Boards' differ in their proposed treatment of a controlling financial interest in an investment company held by a non-investment company parent. PwC believes that such significant differences should be eliminated in order to achieve a truly converged standard.
PwC comment letter (FASB)PwC Comments on Proposed ASU, Real Estate - Investment Property Entities (Topic 973)
2/16/12 | Assurance services
PwC does not believe that measuring all real estate investments at fair value will necessarily yield better reporting for all types of investors. However, we do believe that fair value for entities that are fundamentally investing entities, as opposed to operating entities, would provide more relevant information to users of financial statements. Further, even among investing entities that account for their real estate investments at fair value, significant diversity in application exists with respect to presentation, measurement, consolidation and disclosure.
DatalineDataline (Supplement): Revenue from contracts with customers - Asset management industry (No. 2011-35)
11/22/11 | Assurance services
The FASB and IASB released an updated exposure draft, Revenue from Contract with Customers, on November 14, 2011, and are requesting comments by March 13, 2012. In Dataline 2011-35, we share our analysis of and insight on the overall proposal. This industry supplement to Dataline 2011-35 provides specific examples and assessments of the potential affect of the updated proposal on the asset management industry.
DatalineDataline (Supplement): A New Approach to Lease Accounting - Real estate lessee supplement (No. 2010-38)
1/6/11 | Assurance services
The FASB and IASB's recently-issued exposure draft titled Leases contains the boards' proposal for a new approach to lease accounting that could fundamentally change the way both lessees and lessors account for leases. Under the proposed model, a lessee's rights and obligations under all leases - existing and new - would be recognized on its balance sheet. Lessors would report leases using either a performance-obligation approach or a derecognition approach. Dataline 2010-38 provides an overview and various insights into the boards' proposed standard. In January 2011, PwC issued a real estate lessee supplement to this Dataline summarizing the exposure draft from a lessee's perspective.