Hedge Fund Bosses Make the Case for Humans
Data de publicação: Tue, 27 Jun 2017 16:10:04 +0000 - Fonte: Compliance X
Humans won?t be obsolete in this lifetime. That?s what a quartet of money managers have posited in recent weeks as new technologies rewire finance, threatening to supplant the industry?s rank and file. Winton, a $30.6 billion hedge fund that?s used algorithms to trade for two decades, told clients that people must still make the big decisions. Michael Hintze, who runs another major fund, said computer models can spot market anomalies but rarely provide answers. Jordi Visser, investment chief at a third firm, said humans still have the upper hand when it comes to recognizing patterns. Billionaire bond manager Jeffrey Gundlach […] The post Hedge Fund Bosses Make the Case for Humans appeared first on Compliancex.
Mishandle a Fraud Search, and All That Fine Evidence Could Be for Nothing
Data de publicação: Tue, 27 Jun 2017 16:03:39 +0000 - Fonte: Compliance X
A search conducted at a home or business can feel like a terrible violation of privacy. When a score of agents tramp through the premises taking just about everything that isn?t nailed down, the question is whether that comports with the Fourth Amendment?s protection ?against unreasonable searches and seizures.? Judge Alison J. Nathan of the Federal District Court in Manhattan delivered a stern warning to prosecutors when she granted a motion by Benjamin Wey, a New York City financier, to suppress everything seized during searches of his office and home in 2012. The New York Times reported that the ruling, […] The post Mishandle a Fraud Search, and All That Fine Evidence Could Be for Nothing appeared first on Compliancex.
Fintech take-up on the rise, says EY
Data de publicação: Tue, 27 Jun 2017 15:44:36 +0000 - Fonte: Compliance X
EY survey finds rapidly increasing adoption of services provided by financial technology firms among consumers By Clare Dickinson June 26, 2017 Updated: 3:18 p.m. GMT Digital finance is becoming increasingly mainstream, with 50% of tech-savvy consumers worldwide now using money transfer and payments services, according to EY – findings that come as the fast-growing sector struggles to convince some big banks to buy into its products. EY interviewed more than 22,000 customers in 20 countries who are active online to compile its FinTech Adoption Index. A third of respondents said they regularly use financial technology services such as online-only banks and […] The post Fintech take-up on the rise, says EY appeared first on Compliancex.
Nomura Said to Bolster Compliance After Japanese Law Breach
Data de publicação: Tue, 27 Jun 2017 15:39:27 +0000 - Fonte: Compliance X
Nomura Holdings Inc. plans to bolster internal controls after finding that it breached securities laws in its handling of nonpublic information about a company it took public last year, people with knowledge of the matter said. Japan?s biggest brokerage submitted a report to the Financial Services Agency this month acknowledging that it violated local laws and detailing steps to improve how it handles corporate information, the people said, asking not to be identified because the matter is private. Following an internal investigation, Nomura found a former branch manager in Kyushu in southern Japan mishandled private information that Wash House Co. was considering a […] The post Nomura Said to Bolster Compliance After Japanese Law Breach appeared first on Compliancex.
Tour Beyoncé and Jay Z?s Malibu Mansion That They?re Renting for $400,000 a Month
Data de publicação: Tue, 27 Jun 2017 15:38:43 +0000 - Fonte: Compliance X
An expanding family means a new house for Beyoncé and Jay Z. The power couple is renting a 12,045 square-foot estate in Malibu, Calif. following the birth of their newborn twins. The whole family, which also includes the twins’s big sister Blue Ivy, has already moved into the five-bedroom, eight-bathroom home for $400,000 a month, according to Trulia. The property is listed for $25 million and located on the celebrity-filled Malibu coastline. While it is likely only a temporary spot for the family, the property includes a gourmet kitchen, full gym, movie theater, wine cellar and kid-friendly wading pool. It […] The post Tour Beyoncé and Jay Z’s Malibu Mansion That They’re Renting for $400,000 a Month appeared first on Compliancex.
Petya cyber attack: Ransomware spreads across Europe with firms in Ukraine, Britain and Spain shut down
Data de publicação: Tue, 27 Jun 2017 19:46:27 +0000 - Fonte: Compliance X
Major firms, airports and government departments in Ukraine have been struck by a massive cyber attack which began to spread across Europe on Tuesday afternoon. In Ukraine, government departments, the central bank, a state-run aircraft manufacturer, the airport in Kiev and the metro network have all been paralysed by the hack. In the UK, the advertising firm WPP said its systems had also been struck down, while in the Netherlands a major shipping firm confirmed its computer terminals were malfunctioning. Source: The Telegraph The post Petya cyber attack: Ransomware spreads across Europe with firms in Ukraine, Britain and Spain shut down appeared first on Compliancex.
SEC?s Clayton says efficiencies will lead to more adviser exams
Data de publicação: Tue, 27 Jun 2017 19:29:05 +0000 - Fonte: Compliance X
If Securities and Exchange Commission Chairman Jay Clayton has his way, registered investment advisers will see more oversight from auditors in the coming months and years. According to his prepared comments at the Senate Appropriations subcommittee Tuesday morning, “The SEC is on track to deliver a 20% increase in the number of investment adviser examinations in the current fiscal year.” Mr. Clayton also anticipates being able to increase exams by another 5% next year. Considering the SEC’s current pattern of auditing advisers about once every 10 years, Mr. Clayton acknowledged that tighter budgets would require increased efficiencies at the SEC. […] The post SEC’s Clayton says efficiencies will lead to more adviser exams appeared first on Compliancex.
Brazil?s President Michel Temer charged with taking bribes
Data de publicação: Tue, 27 Jun 2017 18:39:15 +0000 - Fonte: Compliance X
Brazil’s top federal prosecutor charged President Michel Temer with taking multimillion-dollar bribes on Monday in a stinging blow to the unpopular leader and to political stability in Latin America’s largest country. Rodrigo Janot submitted the charge in a document presented to the Supreme Court, saying “he fooled Brazilian citizens” and owed the nation millions in compensation for accepting bribes. Under Brazilian law, the lower house of Congress must now vote on whether to allow the top tribunal to try the conservative leader, who replaced impeached leftist President Dilma Rousseff just over a year ago. Lawmakers within Temer’s coalition are confident […] The post Brazil’s President Michel Temer charged with taking bribes appeared first on Compliancex.
World Cup 2022: Claims of corruption in Qatar bid published in Germany
Data de publicação: Tue, 27 Jun 2017 18:31:06 +0000 - Fonte: Compliance X
Claims of alleged corruption in Qatar’s successful 2022 World Cup bid have been published in the German media. Bild newspaper says it has obtained the “suppressed” 2014 report authored by former Fifa independent ethics investigator Michael Garcia. Bild’s report includes details of a $2m (£1.6m) sum allegedly paid to the 10-year-old daughter of a Fifa official. Garcia quit in December 2014 in protest at the handling of his report into the bidding process. The American lawyer cited a “lack of leadership” as he left football’s world governing body, whose executives unanimously agreed to publish a “legally appropriate version” of his […] The post World Cup 2022: Claims of corruption in Qatar bid published in Germany appeared first on Compliancex.
Crypto Correction: Bitcoin and Ether Dive as Market Sheds $13 Billion
Data de publicação: Tue, 27 Jun 2017 16:33:29 +0000 - Fonte: Compliance X
Is the long-awaited ‘crypto correction’ finally here? There was certainly ample evidence to suggest the answer was yes today, as cryptocurrencies both large and small suffered widespread losses, a decline that analysts attributed to profit taking from veteran investors. Overall, the total market capitalization of cryptocurrencies fell to as little as $91.4bn today, a more than 20% decline from the all-time high of $117.2bn it reached around mid-June, and down over 13% from the day’s open at $105.3bn. At the time of report, the top 20 cryptocurrencies as ranked by market capitalization had all suffered declines in the last 24 hours, according […] The post Crypto Correction: Bitcoin and Ether Dive as Market Sheds $13 Billion appeared first on Compliancex.