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Only a quarter of people think immigration is an important issue locally – and concern about it is “a manufactured panic,” it has been claimed.

A YouGov poll found only 26% of people said immigration and asylum was one of the three most important issues facing their community.

This was half the 52% who said it was one of the biggest problems facing the country as a whole, and put immigration seventh on the list of important local problems behind issues like cost of living, health, crime, and housing.

Saeema Syeda, of the Joint Council for the Welfare of Immigrants (JCWI), said the poll “proves what we’ve been saying all along – there is no immigration crisis”.

She said: “It’s a manufactured panic, pushed by some politicians and parts of the media to distract from what actually matters to people.

“Across our communities, we share the same priorities – making ends meet, accessing healthcare, decent schools and secure homes. We need to end scapegoating and look for solutions.”

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Have billions been wasted on housing migrants?

The poll, which was commissioned by campaign group Best for Britain, found the cost of living was the top issue for people both nationally and locally.

But while immigration was the second most important issue for people nationally, health was ranked second locally, followed by the economy, crime, housing, and jobs.

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Military barracks used to house asylum seekers

Among those who voted Labour at the last general election, 56% of people mentioned the cost of living as a major national issue and 39% mentioned the economy, compared with 34% who said immigration was a major problem.

Best for Britain said the findings showed that “for most people, including those vital to Labour’s electoral coalition, concerns around immigration are not based on personal experience”.

The YouGov poll surveyed 4,368 British adults between September 5 and 10.

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SEC sends warning letters to ETF issuers targeting untamed leverage

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SEC sends warning letters to ETF issuers targeting untamed leverage

The US Securities and Exchange Commission (SEC) sent warning letters to several exchange-traded fund (ETF) providers, halting applications for leveraged ETFs that offer more than 200% exposure to the underlying asset.

ETF issuers Direxion, ProShares, and Tidal received letters from the SEC citing legal provisions under the Investment Company Act of 1940.

The law caps exposure of investment funds at 200% of their value-at-risk, defined by a “reference portfolio” of unleveraged, underlying assets or benchmark indexes. The SEC said:

“The fund’s designated reference portfolio provides the unleveraged baseline against which to compare the fund’s leveraged portfolio for purposes of identifying the fund’s leverage risk under the rule.”

SEC, Ethereum ETF, Bitcoin ETF, ETF
SEC warning letter sent to Direxion. Source: SEC

The SEC directed issuers to reduce the amount of leverage in accordance with the existing regulations before the applications would be considered, putting a damper on 3-5x crypto leveraged ETFs in the US.

SEC regulators posted the warning letters the same day they were sent to the issuer, in an “unusually speedy move” that signals officials are keen on communicating their concerns about leveraged products to the investing public, according to Bloomberg.

The crypto market took a nosedive in October after a flash crash caused $20 billion in leveraged liquidations, the most severe single-day liquidation event in crypto history, sparking discussions among analysts and investors over the dangers of leverage and its effect on the crypto market.