Goldilocks’ Global Economic News 6-7-2024
Family Office Update: Exchange Act Form 13F – New Requirements Effective July 1, 2024
In a nutshell, Section 13(f) requires any “institutional investment manager” that exercises investment discretion over the accounts of any other person holding “section 13(f) securities”3 with an aggregate fair market value of at least US$100 million to make certain periodic filings with the Securities and Exchange Commission (SEC) on Form 13F. Section 13(f) applies to all “institutional investment managers,” regardless of whether they are registered as investment advisers under the Advisers Act.
Therefore, a family office, even if it is not required to register under the Advisers Act, may nevertheless be an “institutional investment manager” for purposes of Section 13(f), and therefore be required to make filings on Form 13F.
Reporting obligation that will become effective on July 1, 2024. Each Form 13F filer will now be required to make an annual filing on Form N-PX to disclose its votes on any pay-related proposals presented to stockholders by the public companies in its investment portfolio.
Although Form 13F only requires reporting in respect of “section 13(f) securities” (as identified on the SEC’s quarterly Form 13F List), Form N-PX reporting is not limited to securities on that list, but it applies to pay-related votes cast on all securities registered under Section 12 of the Exchange Act.
Family offices that are required to file Form 13F will need to develop procedures to identify and keep a record of any pay-related proposals that are presented at their portfolio companies’ stockholder meetings – and how they cast their votes – so that they will be able to make accurate and timely filings of Form N-PX, which must be made annually by August 31 of each year, covering the filer’s say-on-pay voting record 9+ for the 12-month period ended June 30.
Form N-PX filings will be available to the public through the SEC’s website. Squire Patton Boggs SEC
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Model Portfolios by J.P. Morgan. | J P Mprgan
Asset Managers will play a larger role in the new banking system offering you new opportunities going forward.
Several portfolio options have changed that include Digital Asset opportunities explored and powered by artificial intelligence guidance.
Many of our new portfolios will include artificial intelligence guidance that outlines a path forward for investors depending on their personal needs.
The ability to invest in Quantum Technologies will offer higher yield percentage rates for those who invest in the new technical sciences.
Digital Asset opportunities that move through the market/banking system will be available for those who want to use the new and improved updated tokenized asset market to invest in Bitcoin and other assets without the responsibility of holding the coins themselves.
The new banking system is run off of a Digital Ledger Technological System. Because of these changes, artificial intelligence will play a larger role in the banking system than before. You may see less workers in a bank and more personal wealth managers known as relationship managers.
It is important for us to know and be known by our relationship managers in the banking system going forward to receive personal guidance that we once received in other ways in the past.
© Goldilocks
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IBM and Pasqal Initiate Collaboration to Define Classical-Quantum Integration for Quantum-Centric Supercomputers | The Quantum Insider
IBM and Pasqal announced their intent to partner to develop a common approach to quantum-centric supercomputing.
The teams will also promote application research in chemistry and materials science.
The two companies share the vision for a common approach to integration based on open-source software and involvement in the technical community.
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Quantum startup Pasqal partners with US competitor IBM to develop ‘quantum-centric supercomputing’ | Sifted
“Paris-based quantum computing startup Pasqal is joining forces with US tech giant IBM to work on technologies that combine the capabilities of quantum and conventional computers.
The two companies are usually portrayed as competitors: Pasqal is one of Europe’s best-funded startups building quantum computers, while IBM has poured billions into the technology and is considered a leader in the sector.
But they are now set to collaborate to develop what is known as ‘quantum-centric supercomputing’ — a term coined by IBM to describe the integration of quantum and conventional computations within a single workflow to make the most of what each technology is best at.”
In other words, traditional computers of the past are joining forces with the quantum computers of the future. You could say that the computer industry is getting an upgrade.
It is very similar to what is happening inside the new Digital Financial System. Traditional Banking is being upgraded into a new Digital Asset Based Trading System.
It is amazing how our lives are changing so rapidly at this point. The movement into a technological creative age has just begun.
© Goldilocks
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IOTA has launched its L2 EVM network focusing on real-world asset usage | CoinJournal
IOTA launches layer 2 EVM or Ethereum Virtual Machine network, integrating real-world assets and boosting DeFi.
The newly launched EVM network features smart contracts, cross-chain capabilities, and MEV or Price manipulation protection.”
IOTA is the first distributed ledger built for the “Internet of Everything.” it is a network for exchanging value and data between humans and machines.
This digital network exchanges value assets on just about anything you can think of that is tokenized. This includes just about any goods and services products you can think of going forward.
Iota is the backbone of Web 3 decentralized transactions. It records data transfers on items of value between institutions and people.
This network is designed to build digital trust between monetary transactions in the new technological age.
© Goldilocks
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Technology and Gold are merging together forming new alliances/digital networks that move money electronically enabling standard digital protocols for tokenized assets and their payment systems governed by artificial intelligence.
© Goldilocks
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Institutional Investor: Who They Are and How They Invest | Investopedia
An institutional investor is a company or organization that invests money on behalf of clients or members.
Hedge funds, mutual funds, and endowments are examples of institutional investors.
Institutional investors are considered savvier than the average investor and are often subject to less regulatory oversight.
The buying and selling of large positions by institutional investors can create supply and demand imbalances that result in sudden price moves in stocks, bonds, or other assets.
Institutional investors are the big fish on Wall Street.
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Bretton Woods Project IMF Reforms Announcement | Bretton Woods Project
After long awaited negotiations, the IMF concluded its 16th General Review of Quotas with no meaningful reform to shift the balance of power in favour of emerging economies to ensure a more accurate representation of countries in the global economy.
This reform agenda would include the following points:
* Reform of conditionality to make it more flexible;
* A reduction in the costly surcharges applied to large and longer-term lending;
* A bolstering of concessional financing for low-income members;
* An increase in the overall resources available to the Fund by making the future roll-back of borrowing lower than the quota increase approved in December 2023;
* A higher proportion of basic votes to increase the voting power of smaller nations;
* A third chair for Sub-Saharan African countries in the executive board;
* A fifth deputy managing director position to ensure a greater presence of middle- and low-income in the IMF’s administration.
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#VinceLanci : #BRICS mBridge Platform Goes Live | Youtube
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LIVE: White House Riot fences going up late in the evening. | Youtube
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XLM, XRP, and XDC are utility tokens. Utility tokens are backed by a physical asset.
10 cents, 49 cents, and 3 cents a coin are not bad prices for precious metals. 😉
© Goldilocks
