40 employees at the Office of Financial Research (OFR) - tasked with identifying looming financial risks - were formally told they will lose their jobs as part of a broader reorganization of the agency that was created in the wake of the 2007-2009 global financial crisis.
(Reuters | Aug 8)
Anti Cyber Crime & Financial, Department of Financial Regulators, Office of Financial Affairs, Department of Law and Public Safety - these are just several bogus financial regulators that the Securities and Exchange Commission warned investors do not exist. (ThinkAdvisor | Aug 7)
In a series of roundtables hosted by the Securities and Exchange Commission in U.S. cities this summer, investors shared ideas ranging from cost calculator to graphic illustrations. Several investors called for more detail on fee disclosures in a four-page client relationship summary, or Form CRS, proposed under Regulation Best Interest. (Investment News | Aug 6)
There is a very loose understanding of the Algo Wheel in the marketplace. It's some sort of broker ranking tool... or it picks the strategy for you... or it executes all its orders with the Wheel provider... and then generates some cryptic report. (Bloomberg Pro | Aug 6)
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20 hot cybersecurity products announced at Black Hat 2018
Some of the more common areas for product innovation this year include security operations and incident response, identity and access management, web security, and application security.
The rapid adoption of "smart" products - coupled with an explosion of hacks and breaches - has resulted in a critical shortage of skilled cybersecurity professionals. When those positions go unfilled, the risk of breaches increases due to a lack of basic security hygiene, like routine patching and maintenance, and an inability to respond to alarms fast enough, if at all. Unfortunately, this vicious cycle isn't going to end anytime soon.
SEC's approach to cybersecurity: Parallels for market intermediaries and issuers
Vince Martinez and McNair Nichols of K&L Gates discuss how the Securities and Exchange Commission has crafted staff and interpretive guidance in lieu of regulation mandating prescriptive technological requirements in order to fashion a uniform approach to cybersecurity that is thematically consistent across its registrants.
How your brokers can make 10 times more on your cash than you do
It pays to pay attention to what your brokerage is doing with your cash. And if the Securities and Exchange Commission wants to make good on its promise to compel brokers to act in their customers' best interest, it should shine a klieg light on how brokers treat investors' cash.
How your LinkedIn exposes you to facial recognition hacks
If hackers want to target a specific person, they could harvest their image from social media. They could then infect a computer network and launch an attack when the target's face is detected by the camera. They could do the same with voice recognition or any other aspect of a person's physical being that can be recorded by a computer.
FinTwit: Inside the always nasty, frequently sexist, and often litigious world of financial Twitter
The trading floor of old has moved online, and the outcome is exactly as you'd expect. At a time when even the president of the United States' tweets contain vicious and false statements, it should not be surprising that the same is true for Financial Twitter - also known as FinTwit - which has its share of blowhards, bullies, and bots.