Do you know that there’s a slither of light at the end of the Brexit tunnel or that Hong Kong is launching a new global blockchain platform? Keep up with the top international financial news stories that have a knock-on effect for you. There’s plenty to read and discuss with your asset management team at the next meeting scheduled in the calendar. AOB? You bet there is.
The EU have confirmed that a no Brexit deal won’t result in the bloc’s banks being cut off from London’s financial hub. This decision ensures that FIs won’t lose access to the London Stock Exchange Group or clearinghouses, like LCH Ltd. With derivatives worth more than a trillion dollars thought to be at risk, this has calmed the tempestuous waters of the Brexit negotiations. (A little bit, at least).
Ahead of next week’s elections, Republican congressman Blaine Luetkemeyer is taking the lead to govern US financial policy – judging by the Reuters-Ipsos poll. With donations from commercial banks estimated at $300,000, Wall Street’s favourite contender is getting the lion’s share of the votes due to his stance on financial transparency and anti-money laundering too.
Survey says: you fail, Canada! The Financial Planning Standards Council (FPSC) has shared its financial stress test findings, determining that 33% of Canadians won’t pass a financial stress test. If there was a financial emergency, a third of all Canadians can’t rely on their savings to help them get back out of the slump. With approximately 22% not knowing any asset or wealth managers that they trust either – there’s an opportunity for the sector to step up to the plate.
Did you know that two of the world’s top 50 emerging FinTech firms hail from Kenya? In KPMG’s FinTech100 report, the digital payment provider, Cellulant, and mobile loans provider, Tala, have already raised the venture capital needed from investors to grow their company’s talent and concentrate on key areas of their business, including product development.
A new blockchain trade finance platform is being launched in Hong Kong. Facilitated by central bank, the Hong Kong Monetary Authority (HKMA), this venture to increase the efficiency of international trading and reduce the risk of fraudulent Letters of Credit (LoC) is being backed by 12 banks, including HSBC, Standard Chartered, Agricultural Bank of China, and BNP Paribas.
There’s nothing to hold back clean energy reinvestments, so says the Clean Energy Finance Corporation (CEFC). In fact, it’s looking likely that these projects are subject to an acceleration. In light of its recent annual report, CEFC’s investment banker and company director, Steven Skala, announced in parliament that there’s no significant sign of constraint that would affect the capacity of clean energy investments.
Pressures are rising after a warning message from Willis Towers Watson (WLTW) draws attention to an international increase in sustainable investments. 405 out of 500 asset managers surveyed have identified a surge in environmental, social, and technological investing activity, which means the sector will inevitably experience a big disruption with the big data they have to deal with.
Learn more about the financial news that affects you by attending our November conferences, including The Summit for Performance, Risk & Attribution (SUPRA) and Client Reporting & Communications Forum (CRC) in London, plus TSAM Boston in the US.