SEC scrutinizes AI companies' disclosures as bubble concerns grow
Enforcement director David Woodcock said the agency would act when companies fail to provide accurate disclosures of material information.
Japan expects higher government revenue from faster BOJ ETF sales
The Bank of Japan will raise annual ETF sales to 860 billion yen from January, up from 330 billion yen.
Japanese Finance Minister Satsuki Katayama said on October 30 that accelerated sales of exchange-traded funds by the Bank of Japan would increase profits and the surplus transferred to the government.
The central bank decided to increase its annual ETF sales to 860 billion yen from January, compared with 330 billion yen currently. It said the existing sales pace had caused little market disruption. The government receives part of the BOJ's annual net profit, which includes earnings from ETF disposals.
Katayama said the government respected the decision and would assess potential additional revenue and how to handle it when preparing the budget for the next fiscal year. Prime Minister Sanae Takaichi's administration is seeking non-tax income to support its spending plans while limiting reliance on further debt issuance.
The BOJ started selling ETFs in January as it moved to unwind a large stimulus program intended to support growth and bring inflation to its 2% target. The bank said disposing of its holdings would still take about 43 years at the increased pace.
With stock-market gains lifting ETF valuations, some lawmakers have urged that proceeds be used to finance tax cuts and spending.