Week InReview

Before the bulls get ahead of themselves...

Some of the most epic crashes in market history have taken place in October.   October marked the start of the Wall Street Panic of 1907 , the stock market crash leading up to the Great Depression in 1929 , and the Black Monday crash of Oct. 19, 1987 , when equities lost nearly a quarter of their value in a single day.

- Money magazine
Fri Aug 4, 2017
Let's recap
In case you missed it . . .
Large investment houses yet to decide how they will pay for investment research (Aug 3)

The demise of Libor is not a done deal for markets
Moving more than $350tn of derivatives pegged to benchmark will take longer than five years (Aug 2)

A client alert shared by Stradley Ronon warns that several states are in the process of debating and potentially adopting their own legislation relating to the fiduciary responsibilities of broker/dealers and investment advisers (Aug 1)

DOL fiduciary rule opponents have a good day in appeals court
The Fifth Circuit Court of Appeals, which has a reputation for narrowly defining federal powers, can throw out the rule if it chooses (Aug 1)

U.S. judges allow public to see records in MetLife 'too big to fail' case
The public may soon be able to delve into how a U.S. District Court judge came to rule that MetLife Inc.  is not "too big to fail," after three appeals judges decided many records in the case should be unsealed (Aug 1)
The Cyber Cafe
Cybersecurity news every Friday.
33 hot new security products announced at Black Hat 2017
Security vendors took advantage of the Black Hat 2017  stage to show off their latest security innovations.

Five new threats to your mobile device security
Cyber criminals are stepping up their attacks on mobile devices with new weapons and variations on old ones.
MetLife TBTF suit on hold
Must wait until Treasury acts
(Aug 2) -- The government and MetLife Inc. must wait for a Treasury Department report before a federal appeals court rules on a challenge to their SIFI (systemically important financial institution) label. Treasury's mid-October report will adresss FSOC's authority to designate nonbank companies as posing a systemic risk to the financial system. The case is on hold indefinitely after the U.S. Court of Appeals for the District of Columbia Circuit gave MetLife and the government a Nov. 17 deadline (or within 30 days of the Treasury report, whichever comes first) to file renewed briefs.
Binge reading disorder
Hand-curated, chosen with love.
A Baccarat binge helped launder the world's biggest cyberheist
How do you make $81 million stolen from the Bangladesh central bank disappear? Run it through an Asian laundromat.

The Great Escape: How credit raters ducked reform
After the subprime crisis, rules-tightening didn't hit S&P, Moody's, and Fitch as hard as the banks.