Regulatory Developments

Watch Out for Scammers Posing as SEC Employees – Investor Alert

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Alert to warn investors that fraudsters sometimes pose as SEC employees. Do not send money, or personal information, to anyone claiming to be from the SEC without verifying their identity using the steps described in this Alert.

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Federal Reserve Board approves action by the Board of Directors of the Federal Reserve Bank of Philadelphia

Federal Reserve Board approves action by the Board of Directors of the Federal Reserve Bank of Philadelphia

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Don’t Be Fooled by Fraudsters Offering “Charitable” Investments

The SEC’s Office of Investor Education and Advocacy (OIEA) warns investors not to fall for investment scams claiming to help charitable causes.  Supporting a good cause while investing your money may sound like a win-win situation.  But be aware that fraudsters may try to exploit your desire to help others by using charitable causes as … Read more

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Federal Reserve Board approves actions by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, St. Louis, and Kansas City

Federal Reserve Board approves actions by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, St. Louis, and Kansas City

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New York Fed injects liquidity for third straight day

Operation was oversubscribed for second day in a row, with banks requesting $83 billion

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Cybersecurity, Data and AML/Sanctions

‘Security’ Cameras Are Dry Powder for Hackers. Here’s Why

Researchers have long bemoaned the insecurity of certain “security” cameras. Ostensibly installed to deter and thwart intruders, many actually can be transformed into an arsenal that hackers use for Web warfare. The latest cause for concern: A vulnerability that enables hackers to summon a firehose of network traffic from hundreds of thousands of such devices … Read more

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Killer robots: why do so many people think they are a good idea? | Stuart Heritage

According to a recent survey, 39% of us aren’t against machines capable of destroying humanity. Surely there are some things we can all agree on Laura Nolan is a modern hero. A former Google software engineer, Nolan resigned from her job last year after being asked to dramatically enhance the artificial intelligence used in US … Read more

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Indian Auto Manufacturer Calls for Blockchain Solutions; SEC Accuses ICO Incubator of Violating Securities Laws

Indian auto manufacturing giant Tata Motors has launched its AutoMobility Collaboration Network 2.0, a platform that will help develop a center of AutoMobility innovation via partnerships for new technologies and/or business models. The company is looking for blockchain solutions for automotive, parking marketplace, NLP native chatbot, demand prediction algorithm, real-time monitoring of fuel quality (BSVI) … Read more

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Here Are the 25 Highest Paying Companies in America

Cybersecurity expertise might be the key to a generous salary, according to a new ranking of company salaries. Palo Alto Networks tops a list of the 25 highest paying companies in America from career site Glassdoor, coming in with a median salary of $170,929. That puts it ahead of Nvidia, where the average employee takes … Read more

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The viral selfie app ImageNet Roulette seemed fun – until it called me a racist slur

During a strange week for Asian Americans, the app – which is part of an art project – achieved its aim by underscoring exactly what’s wrong with artificial intelligence How are you supposed to react when a robot calls you a “gook”? At first glance, ImageNet Roulette seems like just another viral selfie app – … Read more

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Crypto/Blockchain

‘After the flood comes rainbows and sunshine’: Bancor’s Guy Benartzi on state of the crypto space

Bancor co-founder Guy Benartzi’s talk at the Ethereal Summit in Tel Aviv on September 15 was straightforward: he wanted to discuss the company’s Year 3 roadmap, and he wanted to share the new creator.eco platform—built on the Bancor protocol—that helps content creators monetize through a staking system. But in a conversation with Modern Consensus, Benartzi’s … Read more

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Cboe pulls Bitcoin index fund application—again

Securities and Exchange Commission Chairman Jay Clayton may feel that his agency is getting closer to approving an index fund tracking cryptocurrencies, but it’s apparently not close enough for the Chicago Board Options Exchange, which just withdrew its application to create a Bitcoin EFT. In January, the Cboe’s BZX Exchange asked the SEC to allow … Read more

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Bringing smart contracts to consumer loyalty rewards programs

If you’re like most Americans, you are a member of about 15 customer loyalty programs, covering everything from that Starbucks app on your phone, to your airline frequent flyer points, to the rewards points credit card you use for all your purchases. And, of course, that free shipping and streaming video collection you get with … Read more

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How the IRS is cracking down on crypto taxes: A conversation with Bittax’s Or Lokay Cohen

Or Lokay Cohen has been at crypto tax calculation service Bittax since 2016, which means that she may know more about how to file crypto taxes than any person alive. Lokay Cohen told Modern Consensus that she came to the Ethereal conference in Tel Aviv on September 15 to meet like-minded crypto people, as she … Read more

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Zk-SNARKs: What are they and how can they protect your privacy?: A talk with Kaleido

Blockchain solution Kaleido, which is backed by ConsenSys, is working on a way to make privacy more of a reality in the enterprise blockchain sphere. While Kaleido made even the traditional financial news headlines last May for its collaboration with Amazon Web Services, the startup’s recent partnership with privacy tech firm QEDIT for zero-knowledge proofs … Read more

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Banking, Finance and Investment

FCA finds MiFID II research unbundling rules working well for investors

The Financial Conduct Authority (FCA) has today published multi-firm review findings indicating the Markets in Financial Instruments Directive’s (MiFID II) research unbundling rules have improved asset managers’ accountability over costs, saving millions for investors.

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Curve’s Cloudy Crowdfunding

Curve is a banking app that allows you to collate all of your bank cards onto one smart card. Think a wallet which is not a wallet, but is also kept in your wallet. Since its launch in April 2018, the fintech product has proved popular, with the company citing over 500,000 users to date, … Read more

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Reg CF: In More than 3 Years this Crowdfunding Exemption has Seen Zero Fraud in Contrast to What Some Expected

Reg CF [Regulation Crowdfunding], the smallest of the three crowdfunding exemptions created by the bi-partisan JOBS Act of 2012, became officially actionable in May of 2016. In that time, hundreds of issuers have raised money on FINRA regulated “funding portals” taking advantage of the internet… Read More The post Reg CF: In More than 3 … Read more

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5 Important Mobile Wallet Trends You Need To Know

Mobile wallets were once a niche service for tech-savvy customers, but not anymore: digital wallets…

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Crypto Facilitates Money Transfer for Restricted China

Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal for nationals to send over $50,000 in fiat money in a day, without government permission. Restrictive banking regulations, international trade wars, and a surveillance state in the midst of political unrest mean that … Read more

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