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New Zealand Financial Markets Authority Sets Target Dates For FAP Full Licence Applications

Date 20/10/2021

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has set 30 September 2022 as the target date by when all transitional financial advice providers should apply for their Class 1 or Class 2 full licences. For Class 3 licence applicants, the target date is 30 June 2022.
Path Solutions Receives Record-Breaking Number Of Awards At IFN Service Providers Poll

Date 20/10/2021

Several honors and awards were recently bestowed on Path Solutions including the latest Best Islamic Technology Provider 2021 award from Islamic Finance news (IFN). For the first time in history, an Islamic banking software provider receives the most awards ever for its contribution to the growth of the Islamic financial services industry.
IMF Chief Economist Gita Gopinath To Return To Harvard University

Date 19/10/2021

International Monetary Fund (IMF) Managing Director Kristalina Georgieva announced today that Gita Gopinath, the Fund’s Chief Economist and Director of the Research Department, intends to leave the Fund in January 2022 and return to Harvard University’s Economics Department as planned when her public service leave ends. Harvard University had extended Ms. Gopinath’s leave of absence on an exceptional basis by one year, which has allowed her to serve as Chief Economist at the IMF for three years
Moscow Exchange: Risk Parameters Change On Securities Market

Date 19/10/2021

CCP NCC changes PcH_max parameter value that defines price up limit on Securities market starting from October 20, 2021:
The Economic Outlook And A Cautionary Tale On “Idiosyncratic” Price Changes And Inflation, Federal Reserve Governor Christopher J. Waller, At The Stanford Institute For Economic Policy Research Associates Meeting, Stanford, California (Via Webcast)

Date 19/10/2021

Thank you to the institute for the opportunity to speak to you. Today my goal is to explain my outlook for the U.S. economy as well as how that perspective shapes my views on the appropriate approach to monetary policy.1 I have three points I would like you to take away from my comments. First, while there has been a significant slowdown in third quarter gross domestic product (GDP) growth, it should rebound in the first half of 2022. Second, I believe that substantial progress has been made on both the inflation and employment legs of our dual mandate. Hence, I believe that we should soon commence tapering our asset purchases. Finally, the next several months are critical for assessing whether the high inflation numbers we have seen are transitory. If monthly prints of inflation continue to run high through the remainder of this year, a more aggressive policy response than just tapering may well be warranted in 2022.

US Department Of Justice: Credit Suisse Resolves Fraudulent Mozambique Loan Case In $547 Million Coordinated Global Resolution - Credit Suisse Securities (Europe) Limited Pleads Guilty To Conspiracy To Commit Wire Fraud

Date 19/10/2021

Credit Suisse Group AG, a global financial institution headquartered in Switzerland, and Credit Suisse Securities (Europe) Limited (CSSEL), its subsidiary in the United Kingdom (together, Credit Suisse), have admitted to defrauding U.S. and international investors in the financing of an $850 million loan for a tuna fishing project in Mozambique, and have been assessed more than $547 million in penalties, fines, and disgorgement as part of coordinated resolutions with criminal and civil authorities in the United States and the United Kingdom. After taking account of crediting by the department of the other resolutions, Credit Suisse will pay approximately $475 million to authorities in the United States and the United Kingdom, as well as restitution to victims in an amount to be determined by the court.
Moscow Exchange: Risk Parameters Change For The Security WU-RM

Date 19/10/2021

As per the Securities market risk parameters methodology, on 19.10.2021, 20-39 (MSK) the lower bound of the price band (up to 1341) and initial margins (up to 18.75 %) for the security WU-RM were changed. New values are available here
Credit Suisse Fined £147,190,276 (US$200,664,504) And Undertakes To The UK Financial Conduct Authority To Forgive US$200 Million Of Mozambican Debt

Date 19/10/2021

The Financial Conduct Authority has fined Credit Suisse over £147 million for serious financial crime due diligence failings related to loans worth over $1.3 billion, which the bank arranged for the Republic of Mozambique. These loans, and a bond exchange, were tainted by corruption. Credit Suisse has also agreed with the FCA to forgive US$200 million of debt owed by the Republic of Mozambique as a result of these tainted loans.
Credit Suisse To Pay Nearly $475 Million To U.S. And U.K. Authorities To Resolve Charges In Connection With Mozambican Bond Offerings - VTB Capital Also Agrees To Settlement With SEC For Role In Misleading Investors

Date 19/10/2021

Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the Securities and Exchange Commission, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA) in a scheme involving two bond offerings and a syndicated loan that raised funds on behalf of state-owned entities in Mozambique.
Welcoming Remarks, Federal Reserve Governor Michelle W. Bowman, At The Women In Banking Symposium, Federal Reserve Bank Of Richmond, Richmond, Virginia (Via Webcast)

Date 19/10/2021

Good afternoon. It is a pleasure to be able to join you today for this conversation, and as a bank regulator and former banker, I am pleased that this conference is making the case for diversity in terms that everyone in business can understand. At any time, but especially now when attracting and keeping skilled and talented employees is so challenging, it only makes sense that you'll get the best employees if both men and women see a business with diverse leadership, and the opportunity to advance. And when a large share of your customers are women, when understanding their perspective is so important to your business, having women in leadership positions will help you serve these customers better and make you a more profitable and successful enterprise.