Brokers and asset managers would have to notify their customers of data breaches as part of a raft of cybersecurity-related rules the SEC is set to vote on today.
Tag: financial services
Banks Beware, Outsiders Are Cracking the Code for Finance
Anyone can be a banker these days, you just need the right code. Global brands from Mercedes and Amazon to IKEA and Walmart are cutting out the traditional financial middleman and plugging in software from tech startups to offer customers everything from banking and credit to insurance. For established financial institutions, the warning signs are… Continue reading Banks Beware, Outsiders Are Cracking the Code for Finance
Top 5 Fintech Trends that Will Shape Financial Markets in 2021
The year 2020 was not the greatest for many industries due to COVID-19. But interestingly, the likes of fintech reported rapid growth during the pandemic. In the absence of physical contacts, consumers relied on virtual financial services to access and disburse funds and fintech solutions came through. The popularity of fintech has spiked in recent… Continue reading Top 5 Fintech Trends that Will Shape Financial Markets in 2021
Brexit Is Here: What Now?
The European Parliament gave the green light, so the UK will formally leave the EU tomorrow, January 31, with a withdrawal deal – and it will then go into a transition period that is scheduled to end on December 30, 2020. During this period the UK will effectively remain in the EU’s customs union and… Continue reading Brexit Is Here: What Now?
SEC Urges Better Cybersecurity Practices at Financial Firms
The Securities and Exchange Commission is telling financial-services companies what kind of cybersecurity practices it has found during audits, giving them detailed information on how to handle sensitive data and guard against cyberattacks. The observations by the SEC are the latest in a string of moves by regulators and government agencies that demonstrate they are… Continue reading SEC Urges Better Cybersecurity Practices at Financial Firms
Nationwide Names John Carter as Financial Services President-Elect
John Carter has been named as the President and Chief Operating Officer-elect of Nationwide’s financial services business lines, effective immediately. Carter succeeds Kirt Walker, who will become Nationwide’s next Chief Executive Officer in October. Reporting to Walker, Carter will oversee the company’s retirement plans, life insurance (individual, business and corporate-owned), annuities and mutual funds business… Continue reading Nationwide Names John Carter as Financial Services President-Elect
Insurer Nationwide Cutting 1,100 Jobs Across Country
Nationwide intends to eliminate the jobs of about 1,100 employees across the country — around 3.6 percent of its workforce. The insurance and financial services company says about 80 workers in Des Moines and 350 in Columbus, Ohio, were told Tuesday that their jobs would be eliminated by the end of March. The remaining workers… Continue reading Insurer Nationwide Cutting 1,100 Jobs Across Country
Companies with Newly Flush Pensions See Chance to Unload the Risk to Insurers
U.S. corporate pensions are at the highest funded level since the financial crisis, which could lead more companies to turn over to insurers the responsibility for paying retirees, pension consultants say. Higher funding levels mean corporate sponsors get a better deal when transferring retiree obligations to insurers, so many firms are finding this to be… Continue reading Companies with Newly Flush Pensions See Chance to Unload the Risk to Insurers
Only One in Three Workers Are on Track to Retire Comfortably by Age 67
If current employee savings trends continue, half of workers will need to wait for retirement until at least age 70 to be considered financially prepared, according to findings from The Real Deal: 2018 Retirement Income Adequacy study released today by Aon, the leading global professional services firm providing a broad range of risk, retirement and… Continue reading Only One in Three Workers Are on Track to Retire Comfortably by Age 67