"The bet of quantitative-retail platforms is that, if extensive real-time data from financial marketplaces is available to anyone, anywhere, with the talent to write algorithms, might we be living in an era where a smart kid in Bangkok with a mathematical bent and a modest grasp of JavaScript can attract investors in the way that a Wall Street investment bank can?"
An SEC rule that helps investors get the best price for their stock orders may disappear under a market-wide pilot program a commission advisory panel is considering. (Apr 6)
Investment banks would love to be rid of the Volcker rule and their bank holding company status (which Dodd-Frank's 'Hotel California' provision prevents). They would also like lower capital requirements and to shed Fed supervision. (Apr 6)
It's possible the Department of Labor wanted to send a serious and conservative message at this stage, but will remain open to further delay of the rule in its entirety. As of now, the DOL has established a timeline in the final rule granting the delay. (Apr 5)
The clock began running out this week on a strategy that has provided U.S. Republicans in Congress with their only notable legislative successes this year: aggressive use of an obscure U.S. law known as the Congressional Review Act. (Apr 5)
Network security professionals are turning to an emerging concept known as "cyber threat hunting" to ferret out hackers from critical systems, said one expert.
They recognize the need for strong passwords and know that public wi-fi hotspots may not be safe for online banking or e-commerce; but U.S. adults are not as good at recognizing email "phishing" schemes or determining if the web site where they're entering credit card information is encrypted.
(Apr 5) -- A federal appeals court refused to temporarily block the Department of Labor's fiduciary rule pending appeal. The U.S. Court of Appeals for the Fifth Circuit in New Orleans denied the U.S. Chamber of Commerce's request for an emergency injunction blocking the Obama-era retirement advice rule. Every judge to have considered the fiduciary rule has upheld it in its entirety. The DOL recently changed the rule's applicability date from Apr 10 to Jun 9. The court's brief decision included no legal reasoning.
Identify jurisdictional constraints on liquidity provision ahead of time and consider how to manage that
Communicate ahead of time and during crises with other central banks regarding judgements on solvency
As liquidity provision would generally be secured against collateral, and that could be in other countries, central banks should develop arrangements to lend against such collateral
Central banks should consider the need to assess the nature and size of potential demands for foreign currency
Need to have balance between the need for transparency and accountability, and the risks of premature disclosure
Central banks should seek to better understand the implications of the evolution of market-based forms of financial intermediation
