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Japan’s FSA Announces New Chief Sustainable Finance Officer

“As CSFO, Ikeda will be responsible for promoting sustainable finance and attempting to bolster its popularity amongst Japanese financial institutions” writes David Kimberley for financemagnates.com. As there is not a fixed definition as to what constitutes an ESG investment, it is difficult to say exactly what they are.The FSA has been one of the more proactive regulators, alongside the FCA and US authorities, when it comes to ESG investment.For instance, investing in American renewable energy companies might constitute an ESG investment but so too could an ethical mining company in…

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Crypto News 

SEC to Hold Public Forum on Blockchain at the End of March

“The Securities and Exchange Commission announced on Friday that it is going to hold a public forum on blockchain technology” writes David Kimberley for financemagnates.com. According to a statement released by the SEC, the forum will deal with both blockchain technology and cryptocurrencies.Some time will be spent looking at blockchain technology, what uses it can be toward and how it is changing certain industries.The financial watchdog’s blockchain forum will be the second such event that it has hosted, though the last was way back in 2016 – light years in…

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How to finally address the country’s out-of-control student loan crisis, according to a finance professor

“On a U.S. household basis, average student loan debt totals $47,671” writes Mark T for businessinsider.com. As loan defaults skyrocket, many are exposed to long-term financial harm while rising student loan debt impacts mental health and worsens gender and racial injustice.Student loan debt is not simply a young person’s problem.Recent public health studies also have shown that student debt can impact stress level, sleep and lead to depression. Source: businessinsider.com

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The Cradle Act would tap Social Security to fund parental leave—here’s what financial advisers think

“Almost every industrialized country except the U.S. gives working mothers at least three months of paid maternity leave, and in most of those countries, such programs are funded through a tax” writes Kerri Anne Renzulli for cnbc.com. But having workers tap their Social Security income early and delay retirement is likely to have big effects on their entire financial lives, not just the few months they cared for their new baby, according to financial planners CNBC Make It spoke with. Source: cnbc.com

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The CFO of MoviePass’ parent company has resigned, as the executive exodus continues

“In a filing to the Securities and Exchange Commission on Friday, Helios and Matheson Analytics, the parent company of MoviePass, announced that its chief financial officer and secretary of the company, Stuart Benson, had resigned” writes Jason Guerrasio for businessinsider.com. The filing stated that Benson was leaving the company after two-plus years to “accept another employment opportunity.”.  Source: businessinsider.com

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Commerce Department Taps R3, Mastercard For Trade Finance Council

“The U.S. Commerce Department is expanding its Trade Finance Advisory Council (TFAC), having recently appointed 21 new members to the group in an effort to explore innovation in and access to trade finance” reports pymnts.com. R3 Consortium members developed their blockchain trade finance prototype in 2017, which operates on the Corda platform and streamlines exchange of letters of credit for participating financial institutions.The digital currency is currently used by the R3 Corda platform in its settlement process to facilitate movement of money across borders.Among the new members is blockchain company…

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Here’s how the SEC should decide if companies should report earnings only every 6 months

“The Securities and Exchange Commission has set a March 21 deadline for public comments on possible changes to its current financial reporting requirements for U.S. publicly traded companies” writes Richard B for marketwatch.com. Moreover, assessing the merits or flaws of such modifications surely is susceptible to benefit-cost analysis.To help answer this question, the SEC should embrace benefit-cost analysis in a serious way that sets a standard for other U.S. financial regulatory agencies.Many people in the current administration and in Congress claim that they favor benefit-cost analysis and evidence-based decision-making.For example,…

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Citi Preps For Corporate Banking Uptick

“While business with its corporate clients slowed down at the start of the year, Citigroup said it is preparing for its corporate banking operations to pick up as the year moves forward” reports pymnts.com. According to Mason, there is a “disconnect” between economic data and concerns about an economic downturn, and the strong performance of the bank’s corporate customers across the globe. Last month Citi announced a partnership with corporate treasury and cash management solution provider Kyriba, which will connect its business customers to faster payment capabilities provided by Citi.While…

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Americans have some disturbing misconceptions about their financial advisers

“Nearly a third of Americans think that financial advisers are likely to rip off their clients” writes Brett Arends for marketwatch.com. For example, 48% believe that all financial advisers “have a legal obligation to act in clients’ best interests.” But that belief is simply not true, note industry experts.The North American Securities Administrators’ Association, which represents state regulators, says in total there about 350,000 so-called RIAs in the U.S. There are almost twice many financial advisers who are not subject to this rule. Source: marketwatch.com

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INTL FCStone Acquires CoinInvest & European Precious Metal Trading

“INTL FCStone operates one of the largest FX prime brokerages, whereas CoinInvest GmbH and European Precious Metal Trading GmbH are online providers of gold, silver, platinum and palladium products to financial advisors, private individuals and institutional investors” writes Celeste Skinner for financemagnates.com. The financial firm’s precious metals division provides its clients with trading capabilities and access to metals markets through its offices in London, Singapore, Shanghai and Dubai.INTL FCStone, a global brokerage and financial services firm, announced this Wednesday that its subsidiary INTL Netherlands B.V. has executed a sale and…

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