Hedge funds hit as investors pull billions of dollars

Hedge funds hit as investors pull billions of dollars | Financials to benefit from Fed asset reduction | Banks' implementation of fiduciary rule varies Created for {EMAIL} | [Web Version]( June 14, 2017 [SIGN UP]( ⋅ [FORWARD]( [] Risk Management and Insurance [] [Hedge funds hit as investors pull billions of dollars]( Hedge fund investors are leaving after returns averaged 5.5% at a time when the Standard & Poor's 500 index gave investors 10%. Clients withdrew $111.6 billion last year and 1,100 funds closed, the biggest total since the financial crisis. [New York Post]( (6/11) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] [Financials to benefit from Fed asset reduction]( Analysts expect the Federal Reserve to reveal more details on how it plans to reduce its cache of Treasurys and securities, besides increasing interest rates. Shrinking the balance sheet is expected to be a boon to financial stocks. [The Wall Street Journal (tiered subscription model)]( (6/12) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] - [Banks' implementation of fiduciary rule varies]( FINSUM (6/12) [] - [Wells Fargo working with fintechs on customer data protections]( American Banker online (free content) (6/7) [] Cybersecurity [] [Strategic approach is needed to fight back against today's cyberattacks]( NSA-level attacks and government tools used to exploit vulnerabilities require more than just a tech approach for defense, writes Chase Cunningham. Strategy and a secure ecosystem are the keys to fighting back against modern nation-state attacks, Cunningham writes. [ZDNet]( (6/8) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] Government Regulation [] [Bill to overhaul Dodd-Frank clears House]( The House voted 233-186 to pass the Financial CHOICE Act, which would repeal and replace the Dodd-Frank Act and includes a provision restricting the Labor Department's power to impose a fiduciary duty on retirement advice. Meanwhile, a request for information posted last week is seeking input about the rule. [ThinkAdvisor (free registration)]( (6/8), [Pensions & Investments (free access for SmartBrief readers)]( (6/8), [InvestmentNews (tiered subscription model)]( (6/8), [The Wall Street Journal (tiered subscription model)]( (6/8) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] [Treasury report recommends regulatory reform]( Treasury report recommends regulatory reforms Mnuchin (Drew Angerer/Getty Images) The US Treasury Department has released a report with recommendations on easing financial regulation under the Dodd-Frank Act. Treasury Secretary Steven Mnuchin says 80% of the recommendations, including easing stress test criteria and limiting the Consumer Financial Protection Bureau's power, could be implemented through regulatory changes, rather than legislation. [The Hill]( (6/12), [Reuters]( (6/13), [The Wall Street Journal (tiered subscription model)]( (6/12) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] - [SEC reportedly picks asset-management regulator]( Reuters (6/7) [] Innovation [] [Bank-backed person-to-person payment network debuts]( Person-to-person payment network Zelle has launched, allowing direct transfer of funds among 30 financial institutions during the next year. The bank-supported network is seen as a potential competitor to PayPal's Venmo but is aimed at mobile banking customers. [American Banker online (subscription required)]( (6/12) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] - [JPMorgan using tech to disrupt old trading assumptions]( Bloomberg (6/7) [] News from Aon [] [Aon names Jason Hogg Leader of Cyber Solutions and CEO of Stroz Friedberg]( Aon recently announced that [Jason Hogg]( has joined the firm as Leader of Aon Cyber Solutions, responsible for the growth strategy of the firm's solutions that help clients address and manage cyber risk. He will also serve as Chief Executive Officer of Stroz Friedberg, an Aon company, succeeding Michael Patsalos-Fox. Patsalos-Fox is retiring after successfully leading the company through the Aon acquisition and integration. [Read more.]( [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] [2017 Financial Institutions Industry Report Highlights]( Aon recently released highlights of the 2017 Financial Institutions Industry Report. Trends in economics, demographics and geopolitics along with rapid technology advancements are transforming traditional risks for financial institutions, adding new urgency and complexity to old challenges. Damage to reputation and brand was the top ranked risk by financial institutions. [Other top risks?]( [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( Learn more about Aon Financial Institutions: [Aon Home Page]( | [Aon Financial Institutions]( [Thought Leadership]( | [Media Room]( [] [] If there is no point in the universe that we discover by the methods of science, there is a point that we can give the universe by the way we live, by loving each other, by discovering things about nature, by creating works of art. Steve Weinberg, physicist [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( About Aon Financial Institutions The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations. Contact Aon Aon Financial Institutions Jacqueline (Geiger) Quintal | Managing Director Financial Institutions Practice Leader t. 212.441.2339 jacqueline.quintal@aon.com [www.aon.com]( [Linkedin]( [Twitter]( About Aon Aon plc (NYSE:AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: . [Powered By SmartBrief]( Subscriber Tools: [Manage Subscriptions]( [Update Your Profile]( [Unsubscribe]( [Send Feedback]( [Archive]( [Search]( Contact Us: Editor - [Charles Tomlinson](mailto:aonfinancial@smartbrief.com) Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004 © 1999-2017 SmartBrief, Inc.® [Privacy policy]( | [Legal Information]( Â