The CFP Board said it’s taking additional steps to strengthen enforcement of rules for holders of the coveted Certified Financial Planner credential.
The organization is conducting updated background checks on all 87,000-plus CFPs for possible misconduct. The checks already have flagged conduct requiring investigation related in about 1,240 cases, or about 1.4% of the CFP population, the board said in a news release.
Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.
Pandemic’s Economic Toll Forces Egypt to Turn Again to IMF for Help: Middle East’s largest country seeks $5.2 billion bailout loan as it begins to reopen despite a surge in coronavirus cases.
PLANNING & INVESTING
Is Hydrogen the New Wonder Fuel?: Hydrogen holds great promise as a green fuel. The rub is that it is still expensive—as are shares in the companies that might help unlock that promise.
From Dow Jones Newswires
Inflows into high-grade corporate bonds and government bond funds continued to slow for a second week, as the risk of a second wave in Covid-19 infections has brought the rally in risk assets to a halt, says Bank of America. “Only two weeks ago, investors across Europe were adding risk at an unprecedented rate. However, the last two weeks saw a marked slowdown of inflows across credit and [the] Emerging market debt space,” says the bank. The week-on-week pace of cash flowing into investment-grade rate funds has slowed from June record highs, a trend also followed by investment-grade exchange trade funds, it says.(email@example.com; @lorena_rbal)
Layoffs among aerospace suppliers in Washington pass 1,000 for June as Boeing and other plane makers reduce production, according to state employment records. The permanent cuts range from heavyweights like Safran to high-profile small and medium-sized suppliers such as Tool Gauge. Boeing has already filed notice for 5,798 layoffs, with hundreds more expected in the coming weeks as it looks to pare employment at its commercial arm by around 15%. (firstname.lastname@example.org; @dougcameron)
BUSINESS & PRACTICE
Lenders to Ailing Companies Circle Wagons to Fend Off Distressed-Debt Investors: Eaton Vance’s courtroom victory in its battle for Serta shows that once-timid loan funds are now getting aggressive.
Three Questions With Backstage Capital’s Arlan Hamilton on Boosting Diversity in Venture Capital: Founder of venture-capital firm encourages underrepresented voices to flip the script instead of letting “other people determine who we are.”
Covid-19 Is a Puzzle That Wall Street Can’t Solve: A pandemic ended a U.S. bull market and pushed the financial system to the brink of collapse. Then stocks rallied, only to stall again. Investors are still piecing together what happened.
TRAVEL & LIFESTYLE
Will Anyone Bid $60 Million Online for a Painting?: Sotheby’s hopes to field multimillion-dollar bids for a Francis Bacon triptych and other works at a June 29 virtual auction that will be a bellwether of the global art market.
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SOURCE: MoneyBeat – Read entire story here.