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Artificial Intelligence Helps Merchants Manage Cost Of Fraud: SIX Payment Services Complements Its Range Of E-Commerce Services With The Most Effective Solution In The Industry, Fraud Free By SIX – Powered By Fraugster

Date 02/05/2018

Merchants across the globe consider the increase of fraud – both in terms of number and sophistication – as one of their main concerns. No wonder: across the industry, they lose an average of 1.5% of annual revenue or 29 bn USD to fraud. Applying strict rules to block suspicious transactions is not the right answer, as it may backfire: 6 out of 10 consumers never return to a merchant who blocked their transactions. Where most payment providers use conventional built-in fraud engines, SIX Payment Services now launches a revolutionary product based on artificial intelligence (AI).  

Singapore FinTech Festival Up-Sized With Richer Content And Focus On ASEAN

Date 02/05/2018

The Monetary Authority of Singapore (MAS) today announced that the third edition of the Singapore FinTech Festival will be held from 12 to 16 November 2018 in Singapore.

LCH Clears First Non-Deliverable Interest Rate Swaps

Date 02/05/2018

• Clearing for Chinese Yuan, Korean Won and Indian Rupee-denominated non-deliverable interest rate swaps
• J.P. Morgan and Standard Chartered among first participants to clear the products
• SwapClear now offers clearing for derivatives across 21 currencies
• Move follows a record quarter for SwapClear’s volumes, with $292 trillion cleared in Q1 2018

Monetary Authority of Singapore Requires OTC Derivatives To Be Centrally Cleared To Mitigate Systemic Risk

Date 02/05/2018

The Monetary Authority of Singapore (MAS) will introduce regulations to require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs)1, with effect from 1 October 2018. Central clearing will make the trading of OTC derivatives in Singapore safer as it mitigates counterparty credit risks inherent in these trades.

London Stock Exchange Group To Establish Operations In Romania

Date 02/05/2018

• LSEG to  establish a new Business Services Centre in Bucharest, Romania
• Plans to employ skilled professionals  across a range of technology,  data services and corporate function roles

ESMA Launches Bond Liquidity System Under MiFID II

Date 02/05/2018

The European Securities and Markets Authority (ESMA) has published today its first liquidity assessment for bonds subject to the pre- and post-trade requirements of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). 

ASIC Welcomes AFCA Authorisation

Date 02/05/2018

ASIC welcomes the authorisation by the Minister for Revenue and Financial Services of the operator of the new single external dispute resolution (EDR) scheme for consumer and small business complaints: the Australian Financial Complaints Authority (AFCA).

SEC Shuts Down $85 Million Ponzi Scheme And Obtains Asset Freeze

Date 02/05/2018

The Securities and Exchange Commission today announced the unsealing of fraud charges against a Mississippi company and its principal who allegedly bilked at least 150 investors in an $85 million Ponzi scheme.  The defendants agreed to permanent injunctions, an asset freeze, and expedited discovery.

SEC Names Raquel Fox Director Of The Office Of International Affairs

Date 01/05/2018

The Securities and Exchange Commission today announced that Raquel Fox will succeed Paul Leder as the Director of the Office of International Affairs, which advises the Commission on cross-border enforcement and regulatory matters and coordinates the SEC’s involvement with regulatory authorities outside the United States.  Ms. Fox will formally assume the position in July 2018. 

Fiserv Reports First Quarter 2018 Results

Date 01/05/2018

• GAAP revenue growth and internal revenue growth of 3 percent;
• GAAP EPS increase of 79 percent and adjusted EPS increase of 23 percent;
• Full year 2018 guidance affirmed