The reauthorisation of the US regulator should be a formality, but the combination of Dodd-Frank implementation and the MF Global failure have made for a deeper discussion of the agency’s future.
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Mobile money, including banking and payments, is encroaching into the everyday life of the consumer. Monetising the business is still proving difficult, but thanks to the abundance of products available already, tangible business models are slowly emerging.
Personalised and location-based marketing tactics could be a catalyst for higher usage of mobile payments and could, in turn, unlock new business approaches.
The Senate report into JPMorgan's 2012 losses on credit derivatives suggests new capital regulations are just making investment banking groups even more complicated to oversee. But perhaps regulatory confusion will eventually shrink 'too big to fail' banks.
Sovereigns taking action against rating agencies are aiming at the wrong target.
The Banker has identified 13 banks to keep an eye on in the coming year based on a variety of factors. US-based Silicon Valley Bank's launch of its full-service bank in London, targeting what it calls innovation companies, makes it one to watch.
The desire of the US Federal Reserve to create more uniform supervision of foreign bank subsidiaries is understandable, but its proposals risk cutting across international efforts at regulatory coordination.
US authorities require Chinese companies listed in the US to abide by certain accounting standards. Many of these Chinese companies are unable to meet such demands because the information contained within their accounts is deemed to be a state secret. Recent fraud accusations involving Chinese companies have only served to highlight this problem, but any sort of resolution appears to be some way off.
The breadth of MasterCard's portfolio of payment solutions would have been unimaginable when the president of global technology and operations at MasterCard Technologies, Robert Reeg, started his career, but with 85% of global transactions still in cash, he explains the importance of pressing ahead with yet more innovation.
Swap execution facilities are supposed to be central to the efforts of the Dodd-Frank Act to make the derivatives industry safer, but delayed rule-making has thrown their very existence into doubt.
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