Week InReview

"I can only say that I have had a wonderful life."

David Rockefeller
1915 - 2017
Fri Mar 24, 2017
Let's recap
In case you missed it . . .
Phase 2 of common security implementation pushed from 2018 (Mar 23)

U.S. investors fight to preserve SEC rule on CEO pay ratio
More than 100 institutional investors opposed efforts by the U.S. securities regulator to delay a rule requiring companies to disclose a ratio comparing their chief executive's pay with their workforce median (Mar 22)

The global liquidity party is alive an dwell, in charts
Lower real rates expected this year, fueling hunt for yield; Fed rate hikes offset by loose global financial conditions (Mar 22)

Fannie, Freddie revamp plan unlikely this year, dividends in focus
An overhaul of Fannie Mae and Freddie Mac is highly unlikely to make it into this year's legislative calendar, Congressional staffers say, possibly shifting the new administration's immediate focus to allowing the mortgage financing institutions' to rebuild depleted capital (Mar 22)

Chamber can't get fiduciary rule halted during appeal
DOL fiduciary rule won't be put on hold while industry groups pursue appeal; rule's looming applicability date likely to be delayed by department; three federal judges have rejected legal challenges to rule (Mar 21)
The Cyber Cafe
Cybersecurity news every Friday
We scored high on this cybersecurity quiz. How about you?
Pew Research Center released new data on Americans' knowledge of online safety

Online cybersecurity course helps business professionals understand the cause of cybersecurity breaches
That's why MIT is launching a new online course for business professionals titled, Cybersecurity: Technology, Application and Policy

N.Y. rule could be model for cyber-collaboration
New York financial regulators' outreach efforts while developing new cybersecurity rules could serve as a model for harmonizing existing regulations elsewhere
G20 communique issued
by finance ministers & central bankers
(Mar 19)  The G20 finance ministers and central bankers published a communique from their summit held in Germany Mar 17-18. Some highlights:
  • Reiterated their commitment to finalize remaining elements of financial sector reform agenda and evaluate those reforms
  • Endorsed Financial Stability Board recommendations to address structural vulnerabilities arising from asset management activities and asked the International Organization of Securities Commissions (IOSCO) to prepare for timely implementation. The FSB is to monitor those risks and, for July leaders summit, assess adequacy of monitoring and policy tools to address risks from shadow banking and to consider further policy.
  • Called on members to complete OTC derivatives reforms. The FSB will review implementation and effects.
  • Said they will review effects of all other reforms implemented since the credit crunch to ensure consistency in the approach and removal of any material unintended consequences. For the July leaders summit, the FSB will prepare a structured framework for post-implementation evaluation, the draft of which will be subject to public consultation.
  • Asked the FSB to take stock of existing regulations and supervisory practices to prevent malicious use of Information and communication technologies designed to disrupt financial services and cause financial instability. A report on that exercise is due by October 2017.
Basel Committee close to bank capital rule deal
EBA's Enria says
(Mar 22) European Banking Authority Chairman Andrea Enria, at a conference in Frankfurt, Germany, spoke about the Basel Committee on Banking Supervision's deal to revise global bank capital standards. "We are very close to an agreement and I'm confident we'll get there soon," Enria said, and they have now agreed upon " let's say, 90 to 95% of the issues" in spite of the outstanding matter of the output floor, which " has been quite divisive."
Binge reading disorder
Hand-curated, chosen with love
Here's where Rockefeller was different
We've lost something larger than a man

A fake $3.6 trillion deal is easy to sneak past the SEC
Fake reports get crazier and reveal threat to U.S. markets; why an unknown artist can say he is richer than Bill Gates (Mar 22)

The secret to happiness? Stop trying to be happy.
We're safer, richer, healthier-and more miserable-than ever before. What new research reveals about happiness. And how to find it.