Week InReview
Friday | Dec 29, 2017
Let's recap
In case you missed it . . .
Life insurance, annuity sellers would have to meet standard; state regulator says move aligns with delayed federal rule (Dec 27)

Many comments critical of 'fiduciary' rule are fake
Wall Street Journal analysis shows 40% of respondents didn't write the posts that were attributed to them (Dec 27)

Breaking the sovereign-debt doom loop
There's another bit of unfinished business in the new Basel III bank-capital rules (Dec 26)
The Cyber Cafe
Cybersecurity news every Friday
Fighting fraud with human bodies and machine brains
The ways that companies are investing in greater levels of authentication security in the face of an onslaught of keylogging, phishing and other threats assailing consumers' accounts.

18 cybersecurity trends organizations need to brace for in 2018
Security experts recently offered their opinions on 18 cybersecurity trends and challenges companies should anticipate in the new year. These include the rise of artificial intelligence and threats from ransomware.
- eWeek

The 4 top security concerns on the minds of millennials
When it comes to cybersecurity, millennials are a radically different generation. They're far more tech savvy than their older generational counterparts, but various pieces of research show that they worry less about being the target of a hack or a breach.
Senate bill may pose risks to fin system:
FDIC's Hoenig
(Dec 26) -- The Senate proposal to exempt thousands of small U.S. banks from Volcker rule restrictions on speculative trading "would be a loophole," Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig said in an interview. Some highlights:
  • Exemption "does open a door, if you are oriented to use deposits to speculate"
  • Hoenig sees loophole in how the Senate rule defines 5% limit on banks' trading activity
  • Says bill's definition of trading assets, liabilities would include short-term, speculative trades but not longer-term trades
Financial stability risks more severe in 2018:
Boston Fed's Rosengren
(Dec 27) -- Financial  stability risks caused by low interest rates are something to monitor globally in the coming year, Federal Reserve Bank of Boston President Eric Rosengren said in a Boston Fed blog post. Some highlights:
  • "I do worry that we may start to see 'reach for yield' kinds of behaviors on financial investments that could potentially have broader implications at a time when monetary or fiscal policy can't react if we get a big negative shock." 
  • Rosengren said "geopolitical risks" were more severe than in recent years.
  • Boston Fed chief says U.S. central bank is in the midst of transition: "We'll have very different leadership at the Board of Governors, which will make 2018 an interesting transition year."
  • NOTE: Rosengren is a 2019 voter on the Federal Open Market Committee.
Binge reading disorder
Hand-curated, chosen with love.
The French Laundry: money, lies and intrigue on the Cote d'Azur
Fabien Gaglio confessed to running a $100 million Ponzi scheme on his own terms. At 9 a.m. on a Wednesday in Paris, dressed elegantly in a dark sweater and crisp white shirt, the 39-year-old banker from the French Riviera walked into a police precinct and took a seat in an interrogation room, armed with a folder of notes.
-  Bloomberg

The biggest financial concerns of affluent investors
What's keeping the affluent up at night.

Forget globalization. Internetization sums up our global economy better.
Globalization is not an accurate descriptor of the 21st century and the internet-driven transformational change sweeping the international economic landscape.