Dion Global Solutions (Dion) (BSE: 526927), technology partner to the financial services industry, announced that Bank of Cyprus has chosen its case & control management solution, FinCASE, for the automation of payment investigations and bank-to-bank charges.
read more...Bank Of Cyprus Selects Dionâs FinCASE For Its Automation Projects
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IOSCO Outlines its Priorities Regarding Data Gaps in the Asset Management Industry
The Board of the International Organization of Securities Commissions (IOSCO) today has issued a public statement outlining its priorities regarding data gaps in the asset management industry. IOSCO considers that more needs to be done to enhance the data collected in this sector and is analysing what data needs should be prioritised. To this end, IOSCO has identified a series of recommendations that will constitute its roadmap in this area. A key priority is to encourage IOSCO members to collect data with a view to better identify systemic risk. Concurrently today, the Financial Stability Board (FSB) has published for public consultation Proposed Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities asking IOSCO to take forward the international work arising from many of these recommendations.
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IOSCO Outlines Its Priorities Regarding Data Gaps In The Asset Management Industry
The Board of the International Organization of Securities Commissions (IOSCO) today has issued a public statement outlining its priorities regarding data gaps in the asset management industry. IOSCO considers that more needs to be done to enhance the data collected in this sector and is analysing what data needs should be prioritised. To this end, IOSCO has identified a series of recommendations that will constitute its roadmap in this area. A key priority is to encourage IOSCO members to collect data with a view to better identify systemic risk.
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FSB Publishes Proposed Policy Recommendations To Address Structural Vulnerabilities From Asset Management Activities
The Financial Stability Board (FSB) today published for public consultation Proposed Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities. The document sets out 14 proposed policy recommendations to address the following structural vulnerabilities from asset management activities that could potentially present financial stability risks:
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Saudi Arabia's Capital Market Authority: Announcement In Relation To The Amendment Of The Resolution Of Securities Disputes Proceedings Regulations
As part of the Capital Market Authority efforts to update the legislative environment of the Capital Market in the Kingdom of Saudi Arabia, and to promote the fairness and transparency principles in securities transactions, and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424 H, The Board of the CMA has issued its resolution to amend article (10), article (13), article (32), article (34) and article (35) of the Resolution of Securities Disputes Proceedings Regulations. The amendment shall become effective upon its publication.
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The Divisive Vote Over Brexit
Andrew Watt has written a passionate critique of my support for Brexit (âProgressive economists should support Remain not Brexit â a response to Steve Keenâ), and it highlights a key feature of this peculiar referendum: people who normally find themselves on the same side in most economic and political debates have been divided by this referendum.
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Federal Court Orders Dante S. Giovannetti And His Companies Emini Experts, LLC And Capital Trading Concepts LLC To Pay Over $2.7 Million In Restitution And Monetary Penalties For Commodity Pool Fraud And Other Violations Of The Commodity Exchange Act - Relief Defendant Capital Futures LLC, Another Company Owned By Giovannetti, Ordered To Disgorge Ill-Gotten Funds - In A Related Criminal Action, Giovannetti Was Sentenced To 63 Months In Prison
The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Paul G. Byron of the U.S. District Court for the Middle District of Florida (Orlando Division) entered a Default Final Judgment Order against Defendants Dante S. Giovannetti and his companies Emini Experts, LLC(Emini) and Capital Trading Concepts LLC (Capital Trading) for defrauding clients in connection with the operation of a commodity trading pool. The court’s Order requires Giovannetti, Emini, and Capital Trading jointly to pay $663,975 to defrauded customers as restitution for their losses and jointly to pay a $1,991,926 civil monetary penalty. The Order also separately imposes jointly against Emini and Giovannetti an additional $140,000 civil monetary penalty. The court also ordered Relief Defendant Capital Futures LLC, another company owned by Giovannetti, to disgorge $143,358 of ill-gotten gains.
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IPOready Companies Graduate From Irish Stock Exchange Leadership Programme
High-potential companies have graduated from #IPOready, the Irish Stock Exchange’s leadership programme for executives, which enhances skills in raising capital, investor relations and business management. Chief Executive Officers (CEOs) and Chief Financial Officers (CFOs) from a range of sectors including technology, security, food and printing took part in the 15-month programme.
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Competition Policy In Financial Markets â The View From The Regulators - Speech By Mary Starks, Director Of Competition, FCA, Delivered At The Centre For Competition Policy (CCP) Conference On 10 June In Norwich
I am delighted that the Centre for Competition Policy has dedicated this year’s conference to Competition Policy in Financial Markets – with a title so relevant to my job, my hopes are high for the next 2 days. I am greatly looking forward to hearing from the line-up of distinguished speakers, not to mention views from what looks like a rather intelligent and discerning audience.
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SIX: Network Issues Now Rectified
As announced earlier today, the cause of the network problems that occurred over the past two days have now been identified and rectified by SIX. The systems operated by SIX have been stable all day and normal operations have been resumed.
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CFTC Swaps Report Update
The CFTC Swaps Report provides a detailed weekly snapshot of the gross notional outstanding as of the penultimate Friday prior to the CFTC Swaps Report’s Wednesday publication date, as well as a detailed weekly total of the transaction volume (on both a ticket volume and dollar volume basis) ending that same penultimate Friday, in two asset classes (interest rate swaps, credit default swaps).
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UN Global Compact Recognizes Press And Sustainability Managing Director Of BM&FBOVESPA S.A. As A 2016 Local SDG Pioneer - Sonia Consiglio Favaretto Honored As A Pioneer For Sustainable Stock Exchanges
Today at the UN Global Compact Leaders Summit 2016 in New York, Sonia Consiglio Favaretto, press and sustainability managing director of BM&FBOVESPA S.A., was announced as one of ten 2016 Local SDG Pioneers. Ms. Favaretto was recognized for her efforts that align with Sustainable Development Goal (SDG) 8 on Decent Work and Economic Growth.
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Office Of The Comptroller Of The Currency: Beverly F. Cole Named Deputy Comptroller For Compliance Supervision
The Office of the Comptroller of the Currency today announced Beverly F. Cole will become its Deputy Comptroller for Compliance Supervision.
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After UBS Produces Singapore-Based Documents, Justice Department Dismisses Summons Case
UBS AG has complied with an Internal Revenue Service (IRS) summons for bank records held in its Singapore office, the Justice Department announced today. Because UBS has now produced all Singapore-based records responsive to the request and the IRS determined that UBS complied with the summons, the Justice Department has voluntarily dismissed its summons enforcement action against the bank.
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Former Swiss Banker Pleads Guilty To Conspiring With U.S. Taxpayers And Other Swiss Bankers To Defraud The United States
A former Credit Suisse AG banker, who has been a fugitive since 2011, pleaded guilty today in U.S. District Court in the Eastern District of Virginia to charges related to aiding and assisting U.S. taxpayers in evading their income taxes, announced Acting Assistant Attorney General Caroline D. Ciraolo of the Justice Department’s Tax Division and U.S. Attorney Dana J. Boente of the Eastern District of Virginia.
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SEC Sues UK-Based Trader For Account Intrusion Scheme
The Securities and Exchange Commission today announced it has obtained an emergency court order to freeze the assets of a United Kingdom resident charged with intruding into the online brokerage accounts of U.S. investors to make unauthorized stock trades that allowed him to profit on trades in his own account.
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A New Currency of the Future: The Novel Commodity Money with Attenuation Coefficient Based on the Logistics Cost of Anchor. (arXiv:1606.06948v1 [q-fin.GN])
In this paper, we reveal the attenuation mechanism of anchor of the commodity money from the perspective of logistics warehousing costs, and propose a novel Decayed Commodity Money (DCM) for the store of value across time and space. Considering the logistics cost of commodity warehousing by the third financial institution such as London Metal Exchange, we can award the difference between the original and the residual value of the anchor to the financial institution. This type of currency has the characteristic of self-decaying value over time. Therefore DCM has the advantages of both the commodity money which has the function of preserving wealth and credit currency without the logistics cost. In addition, DCM can also avoid the defects that precious metal money is hoarded by market and credit currency often leads to excessive liquidity. DCM is also different from virtual currency, such as bitcoin, which does not have a corresponding commodity anchor. As a conclusion, DCM can provide a new way of storing wealth for nations, corporations and individuals effectively.
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Brexit or Bremain ? Evidence from bubble analysis. (arXiv:1606.06829v1 [q-fin.RM])
We applied the Johansen-Ledoit-Sornette (JLS) model to detect possible bubbles and crashes related to the Brexit/Bremain referendum scheduled for 23rd June 2016. Our implementation includes an enhanced model calibration using Genetic Algorithms. We selected a few historical financial series sensitive to the Brexit/Bremain scenario, representative of multiple asset classes. We found that equity and currency asset classes show no bubble signals, while rates, credit and real estate show super-exponential behaviour and instabilities typical of bubble regime. Our study suggests that, under the JLS model, equity and currency markets do not expect crashes or sharp rises following the referendum results. Instead, rates and credit markets consider the referendum a risky event, expecting either a Bremain scenario or a Brexit scenario edulcorated by central banks intervention. In the case of real estate, a crash is expected, but its relationship with the referendum results is unclear.
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Hacking Sales: The Playbook for Building a High-Velocity Sales Machine
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The Handbook of Board Governance: A Comprehensive Guide for Public, Private, and Not-for-Profit Board Members
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