News Regulators 

Basel Committee Warns Banks Against “Immature” Digital Assets

“The Basel Committee has issued a fresh warning to the banks against the risks associated with digital assets” writes Arnab Shome for financemagnates.com. Compared to the mainstream financial sector, the size of the digital asset industry is small and banks all over the globe also have a “very limited direct exposures” to the cryptocurrency sector.This is not the first warning issued by the committee as, last year, it criticized the digital assets for their lack of scalability. Source: financemagnates.com

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Crypto News 

Growth of Crypto Industry Could Threaten Banks, Financial Stability: Basel Committee

“International banking authority the Basel Committee on Banking Supervision (BCBS) has issued a warning statement on crypto assets on March 13” writes Helen Partz for cointelegraph.com. According to the committee, any bank that decides to work with crypto-related assets should first ensure it possesses relevant technical expertise to adequately evaluate the risks associated with the field.The BCBS also argued that crypto assets are “unsafe to rely on” as a medium of exchange or store of value, two of the main functions of money, implying that “cryptocurrency” is a misnomer.The bank…

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News Regulators 

Crypto-assets pose risks to global banks, warns Basel Committee

“LONDON (Reuters) – The growth in crypto-assets such as Bitcoin pose a threat to banks and global financial stability, despite relatively low levels of exposure among key players, the Basel Committee has warned” writes Midwest Communications Inc for 95kqds.com. Crypto-assets are not a reliable substitute for money and are unsafe to rely on as a medium of exchange or store of value, the global banking watchdog said in a statement on Wednesday.The Basel Committee said that while banks currently have “very limited” direct exposure to crypto-assets, they should still improve…

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News 

Investors can get ‘Bernie Madoff insurance’ to protect their money from fraudsters

“Investors who have their money managed by a big Wall Street bank may hope that in the event of fraud the bank will make them whole” writes Brett Arends for marketwatch.com. Now, a new insurance product aims to offer investors some protection.For those whose money is managed by a small firm, the risks are even greater, they argue.The insurance policies’ pricing formula is proprietary and based on a “secret sauce,” said Mike Connor, president of Berkley FinSecure.Capital Shield Insurance Services, a new company set up in Ft. Source: marketwatch.com

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GBP News 

Northern Ireland firms warn of economic, social risks from no-deal Brexit

“BELFAST (Reuters) – Northern Ireland businesses urged British lawmakers on Sunday to seek a compromise over the country’s departure from the European Union and avoid the economic and social risks the province faces in crashing out of the bloc without a deal” writes Midwest Communications Inc for 95kqds.com. In the letter, they said Northern Ireland’s business community is deeply concerned that firms are hugely exposed to the economic fallout from leaving the EU with without a deal and were already hurting from a lack of investment ahead of Brexit. Source: 95kqds.com

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News 

Democrats weigh risks of pushing tax probe into Trump’s businesses

“House Democrats have spent months laying the groundwork for an unprecedented request to Treasury Secretary Steven Mnuchin for Trump’s personal tax filings” writes Midwest Communications Inc for 95kqds.com. House Oversight wants to depose long-time Trump tax attorney Sheri Dillon, who likely has a deep understanding of Trump’s tax returns.Adding Trump’s business returns could complicate an already legally delicate effort, aides and lawmakers said.Committee officials said this week that no final decision has been made on whether to pursue the business returns in the initial request. Source: 95kqds.com

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News Regulators 

Fed governor warns that the economy is at risk of slowing

“Federal Reserve Governor Lael Brainard warned on Thursday that the economy could be slowing despite strong job growth” reports washingtonexaminer.com. That “would amount to a significant headwind,” for the U.S. economy, Brainard said.In remarks prepared for delivery at Princeton University, Brainard cited, as risks to the economy, surveys of consumers and businesses showing declined optimism in the U.S. economy, a weakening global economy, and the potential that President Trump’s trade wars or a government shutdown could weigh down future economic growth. Source: washingtonexaminer.com

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Markets News Regulators Stocks 

Why the ECB’s surprise policy move is sending shivers through global stock markets

“Opinion: The OECD shows in its latest downgrade how interwoven the global economy is Want this type of analysis sent to your inbox?” writes Deputy Markets Editor for marketwatch.com. Of course, investors knew the eurozone economic outlook was nothing to write home about.This sort of diminished confidence filtering through countries and sectors is one major factor for the slowdown” in the eurozone economy.Stocks on Wall Street fell alongside European equities, underlining rising worries among investors that weakness in the global economy could prove to be a drag on U.S. growth.While…

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Markets News Regulators Stocks 

Here’s why the ECB’s surprise policy move is sending shivers through global stock markets

“Of course, investors knew the eurozone economic outlook was nothing to write home about” writes Deputy Markets Editor for marketwatch.com. Uncertainty around Brexit and concerns surrounding emerging markets have also been factors, Draghi said.Draghi, in January, acknowledged that risks to the eurozone’s economic outlook had moved from “broadly balanced” to tilted to the downside.While analysts had expected the ECB president to strike a dovish tone, policy makers went much further than anticipated.Opinion: The OECD shows in its latest downgrade how interwoven the global economy is Want this type of analysis…

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News 

EU agrees on new rules to counter investment ‘greenwashing’

“The agreement reached by EU governments and EU lawmakers will also introduce transparency requirements on the social consequences of investment decisions” writes Midwest Communications Inc for 95kqds.com. The law is meant to spur green investment and to curb “greenwashing”, a practice whereby companies claim to be more environmentally friendly than they really are.BRUSSELS (Reuters) – The European Union agreed on Thursday on a new law that forces asset managers, insurers and pension funds to disclose environmental risks in their investments.Financial managers will have to disclose, for instance, investments in assets…

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