The rating agency Standard & Poor's (S&P) has once again affirmed an AA- credit rating for SIX Group Ltd, thereby reflecting its broad diversification and excellent risk management. The securities services providers SIX SIS Ltd and SIX x-clear Ltd each received an AA- rating (after AA in the previous year). The rating of SIX Payment Services (Austria) GmbH declined slightly from AA- to A+. S&P views the outlook for SIX Group Ltd as stable.
read more...SIX Receives AA- Credit Rating From Standard & Poor's For The Seventh Time In A Row
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Opening Remarks At The Fintech Forum, SEC Chair Mary Jo White, Nov. 14, 2016
I want to welcome all of you to the SEC’s first Fintech Forum — both those of you in the auditorium in Washington and those watching online.
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EBA Consults On Revised Standards On Supervisory Reporting
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DIFC To Host First Race Of 2017 Bloomberg Square Mile Relay Global Series
Dubai International Financial Centre (DIFC), the leading financial hub for the Middle East, Africa and South Asia, today announced that it will host the first race of the 2017 Bloomberg Square Mile Relay global series on Wednesday 8 February, when up to 1,000 runners from Dubai’s leading businesses will once again take on the ultimate corporate relay.
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EBA: Consultation On ITS Amending Implementing Regulation (EU) No 680/2014 With Regard To Operational Risk And Sovereign Exposures (EBA-CP-2016-20)
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SEC Issues $20 Million Whistleblower Award
The Securities and Exchange Commission today announced an award of more than $20 million to a whistleblower who promptly came forward with valuable information that enabled the SEC to move quickly and initiate an enforcement action against wrongdoers before they could squander the money.
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Disrupt Your Routine to Ignite Creativity
Blythe Harris, Stella and Dot's cofounder and chief creative officer, shared a few tips for stimulating creativity with Fast Company's Elizabeth Segran. For instance, Harris suggested that people should purposefully disrupt their usual routine on occasion. They need to seek inspiration by learning and seeing new things, meeting different types of people, and exploring domains where they have little expertise. Here is an excerpt:
"Harris believes strongly in taking inspiration trips. She was just in Chile, learning about local artisans. She's created entire collections after particularly inspiring trips to India and France. To this end, Stella & Dot invests heavily in sending Harris and other designers to foreign countries. But you don't have to spend a lot of money to see things you wouldn't ordinarily see. An important part of this process is learning new things. So Harris also encourages her team to take classes in new fields. For instance, architecture has been particularly helpful to members of the design team. "If you don't have the budget to travel, you can disrupt your routine by going to work a different way, go to a new restaurant, or find ways to meet new people," Harris says. "When you disrupt your thinking like that, it actually slows down time, and you start to be able to take in all your creative inputs differently."
I concur wholeheartedly with Harris' recommendation. In fact, neuroscience supports this suggestion. Research shows that "pure novelty spurs the brain." Specifically, the substantia nigra/ventral tegmental area of the brain has a substantial impact on learning. According to Science Daily, "Researchers Nico Bunzeck and Emrah Düzel report studies with humans showing that the substantia nigra/ventral tegmental area of the brain does respond to novelty as such, and this novelty motivates the brain to explore, seeking a reward."
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Nasdaq MarketSite To Become Broadcast Home To CNBC’s Flagship Morning Show “Squawk Box"
Nasdaq (Nasdaq:NDAQ) announced that CNBC's "Squawk Box" will broadcast from the Nasdaq MarketSite studio in Times Square, starting January 3, 2017, Monday - Friday at 6:00am EST.
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BM&FBOVESPA Market Holiday Tuesday November 15 - Black Consciousness Day - Municipal Holiday
There will be no trading and settlement on BM&FBOVESPA’s markets on Tuesday (November 15).
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TSX Ignite 2016 Live Event Series Wraps Up In Vancouver On November 15
Toronto Stock Exchange (TSX) and TSX Venture Exchange wrap up this year's TSX Ignite live event series in Vancouver tomorrow, November 15.
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FINRA: Study Finds 1 In 3 Student Loan Holders With Payments Due Are Late With Payments And More Than Half Regret Their Borrowing - Data Shows Many Borrowers Don’t Understand Loans They Obtain
Nearly half of young Americans start their working lives with student debt, and 43 million Americans carry student loans. A new study by the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business found that many borrowers are struggling to make student loan payments and regret their borrowing.
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DTCC: Tax And Regulatory Differences, Operational Complexities Remain Challenges For RMB Internationalisation
The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure provider for the global financial services industry, today released new research examining opportunities and challenges facing international financial services firms as the internationalisation of China’s currency, the renminbi (RMB), proceeds.
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U.S. Justice Department: Former Autonomy CFO Charged With Wire Fraud - Defendant Allegedly Defrauded Hewlett-Packard Company In The Acquisition Of Autonomy For $11 Billion
A federal grand jury indicted Sushovan Hussain, 52, a citizen and resident of the United Kingdom, with conspiracy to commit wire fraud and multiple counts of wire fraud. According to the indictment filed last Nov. 10, Hussain allegedly engaged in a scheme to defraud purchasers and sellers of securities of Autonomy Corporation plc (Autonomy) and Hewlett-Packard Company about the true performance of Autonomy’s business, its financial condition and its prospects for growth.
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Boutique Prime Broker Linear Investments To Use TFG Financial Systems For Real-Time Margin Reporting
Linear Investments, the FCA-approved boutique prime broker, has appointed TFG Financial Systems for the provision of real-time margin reporting. In addition, TFG will be adding its trademark real-time portfolio analytics to the Linear offering. This will be extended to Linear’s hedge fund clients, enabling them to carry out sophisticated pre-deal margin and impact risk assessments.
Linear Investments has carved out a successful niche for itself as a specialist provider of prime broking services for the important sector of medium-sized hedge fund managers that are not being supported by larger prime brokers. This has been exacerbated by the impact of Basel III regulations on the major banks that traditionally provided prime services to funds.
“At Linear we have found there is tremendous value to be offered to funds in terms of proper trading and risk management systems,” says Andrew Herriot, Head of Risk at Linear Investments. “TFG can offer both ourselves, and our clients, valuable end of day and real-time risk solutions. Smaller funds would not usually have access to systems of this level of sophistication, and we’re pleased to be able to bring them to our clients.”
Jim Rogers, COO of TFG Financial Systems, said: “The leading prime brokers are moving away from next day batch margin reporting to intra-day or real-time margin calculation and what-if analysis, allowing them to better manage their risk and better serve their clients. TFG is excited to be working with Linear to effect this state of the art change.”
TFG Financial Systems has been active in the hedge fund market for 10 years, developing market leading risk management systems with real-time and middle office features that are prized throughout the industry. The company has also started to work with banks, helping them to gauge their daily risk exposures on a real-time basis.
Linear Investments Ltd is a specialist prime broker and award winning hedge fund incubator based in London and Hamburg. Linear’s integrated platform solution brings together all the skills, expertise, and solutions hedge funds and brokerage clients need in one place. Linear specialises in tailoring an approach to significantly reduce setup costs and operational expenses – bringing clients to market faster and more efficiently. This is achieved through integrating core services: Prime Brokerage & Custody, Hedge Fund Hotel, Outsourced Trading, Capital Introduction, Regulatory Umbrella, DMA & Trading Desk Execution, and Middle & Back Office Support.
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SEC: Statement On Jury’s Verdict In Insider Trading Case Against Pharmaceutical Executive And Friend, Andrew Ceresney, Director, Division of Enforcement, Nov. 14, 2016
"We are pleased that the jury found the two defendants liable for insider trading. While employed at Intermune, Dr. Sasan Sabdaran learned highly confidential information that was not to be disclosed outside the company. Rather than keep this information confidential, he gave it to his friend Farhang Afsarpour, who used it to illegally earn for himself and his friends over $1 million from Intermune trading at the expense of ordinary investors who played by the rules. This jury verdict reaffirms our commitment to aggressively root out and prosecute insider trading schemes in order to protect the integrity of our markets."
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CFTC Commitments Of Traders Reports Update
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Remarks By U.S. Treasury Acting Under Secretary Adam Szubin At The ABA/ABA Money Laundering Enforcement Conference
Thank you, Rob, for your kind introduction and thank you to the American Bankers Association and American Bar Association for inviting me to speak today. I recognize many of you from last year’s Conference, and it is a pleasure to be back again this year.
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Remarks Of CFTC Chairman Timothy Massad Before The CME Global Financial Leadership Conference, November 14, 2016
Thank you very much. It is an honor to be here. It’s also a challenge to speak at this point in the program. First, you have the fact that preceding me were former Speaker John Boehner, Chuck Todd, David Axelrod, and Karen Hughes. They all gave very insightful commentary on what lies ahead for our country after one of the greatest political upheavals of our lifetime. And following my remarks is the cocktail hour. That’s always appealing and perhaps even more so as we all try to digest what has happened. So yes, I am the only thing between you and the bar.
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London Champions Green Finance On The Global Stage
The UK leads the world in Green Finance because of the City’s mix of expertise and innovation, according to a report published by the City of London Corporation’s Green Finance Initiative today (11 November).
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SEC Chair Mary Jo White Announces Departure Plans - Strengthened Protections For Investors And Our Markets Through Transformative Rulemaking And Vigorous Enforcement
SEC Chair Mary Jo White, after nearly four years as the agency’s head, today announced that she intends to leave at the end of the Obama Administration. Under Chair White’s leadership, the Commission strengthened protections for investors and the markets through transformative rulemakings that addressed major issues highlighted by the financial crisis. The Commission also instituted a new approach to enforcement that has resulted in greater accountability and record actions through, among other things, the use of admissions of wrongdoing and enhanced data analytics and technology.
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