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    IPC Systems, Inc. (IPC), a leading provider of global communications solutions and software for the financial services community, today announced the appointment of Tony Carriero as Chief Information Security Officer (CISO). In this leadership role Mr. Carriero will be responsible for the security roadmap across all IPC products and solutions, its financial market cloud network along with IPC's internal IT systems to support the company's vision.read more...

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    Martin Blessing will succeed Lukas Gaehwiler as President Personal & Corporate Banking and President UBS Switzerland in the Group Executive Board (GEB) of UBS, effective 1 September 2016. Blessing was CEO of Commerzbank AG until the end of April this year. During his 15 years on the Board of Managing Directors of Commerzbank, half of which as its Chairman, Blessing significantly shaped the firm. He managed the successful integration of Dresdner Bank and led the bank back to stability and a robust business model following the financial crisis. Today, Commerzbank is active in more than 50 countries, finances 30 percent of Germany’s foreign trade and is the undisputed leader in financing German SMEs. The firm serves around 15 million clients with over 50,000 employees. Prior to Commerzbank, Blessing was at Dresdner Bank and the consultancy McKinsey. He studied in St. Gallen, Switzerland, and Frankfurt am Main, Germany, following a bank apprenticeship.read more...

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    Credit Suisse & AxiomSL have been named joint winners for the Compliance Risk Technology Implementation of the Year award for 2016 during The Asian Banker Risk Management Awards Programme. The programme was administered by The Asian Banker under its prestigious annual Business Achievement Awards programme. The winners received the accolade at the awards ceremony held in conjunction with The Asian Banker Summit 2016, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, at the JW Marriott Hotel Hanoi on 11th May 2016.read more...

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    Assets invested in ETFs/ETPs listed in the United States reached a new record high of US$2.217 trillion at the end of April 2016, according to preliminary data from ETFGI’s April 2016 global ETF and ETP industry insights report. (click here to view the ETFGI chart for asset growth).   Record levels of assets were also reached at the end of April for ETFs/ETPs listed in Canada which reached US$77.42 billion, in Europe US$533.34 billion, in Japan US$145.93 billion, in Asia Pacific ex-Japan US$125.21 billion, and for ETFs/ETPs listed globally which reached US$3.317 trillion. At the end of April 2016, the US ETF/ETP industry had 1,884 ETFs/ETPs, assets of US$2.218 trillion, from 97 providers listed on 3 exchanges..   “Following a strong market performance in March the S+P 500 index was up just 0.39% in April.  Developed markets ex-US were up 3.20%, while emerging markets ended up 1.05%.  The S+P GSCI commodity index was up 10.14% in April.  There is still a significant amount of uncertainty in the markets due to the upcoming Brexit vote, the US election, the efficacy and future of QE programs around the world." according to Deborah Fuhr, managing partner at ETFGI.   In April 2016, ETFs/ETPs listed in the US gathered net inflows of US$11.23 Bn.  Equity ETFs/ETPs gathered the largest net inflows with US$8.16 Bn, followed by fixed income ETFs/ETPs with US$2.82 Bn, while commodity ETFs/ETPs experienced net outflows of US$916 Mn. YTD through end of April 2016, ETFs/ETPs listed in the US have gathered net inflows of US$45.30 Bn. YTD record level of net new assets have been gathered by fixed income ETFs/ETPs with US$33.66 Bn and Commodity ETFs/ETPs with US$8.05 Bn.   In April Vanguard gathered the largest net ETF/ETP inflows with US$5.90 Bn, followed by iShares with US$3.58 Bn and ProShares with US$1.18 Bn net inflows. YTD, Vanguard gathered the largest net ETF/ETP inflows YTD with US$22.33 Bn, followed by iShares with US$20.08 Bn and SPDR ETFs with US$8.09 Bn in net inflows.

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    The Financial Industry Regulatory Authority (FINRA) announced today that it has censured Stephens Inc., of Little Rock, Arkansas, and fined the firm $900,000 for inadequately supervising firm-wide internal "flash" emails sent by its research analysts to convey information about companies and industries the firm covered. These failures created the risk that the flash emails could potentially include material nonpublic information that might be misused by sales and trading personnel. Stephens will also cease distributing flash emails and was ordered to implement a plan to conduct a comprehensive review of its policies, procedures and training in the research area.read more...

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    TMX Group today announced that the nominees listed in the management proxy circular for the 2016 Annual and Special Meeting of Shareholders were elected as directors of TMX Group Limited. Detailed results of the vote for the election of directors held at the Annual and Special Meeting on Tuesday, May 10, 2016 in Toronto are set out below.read more...

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    The Taiwan Futures Exchange (TAIFEX) was today named the winner of the ‘Financial Derivatives Exchange of the Year’ award at the Asian Banker Financial Markets Awards 2016 held today in Hanoi, Vietnam. It is the second year in a row that TAIFEX has been bestowed this prestigious award. The award is the latest in a series of global recognitions for TAIFEX. In 2015, the Eurex/TAIFEX Link – TAIFEX’ international cooperation project with Eurex Exchange – was named “Most Innovative New Contract – Equities” at the Futures and Options World (FOW) Awards for Asia 2015. The ‘Financial Derivative Exchange of the Year’ award is highly recognized among financial services practitioners and professionals in Asia. The winner is selected by a specialized panel of experts who judge each candidate exchange’s overall performance in 2015, including the level of leadership shown by its management team, financial performance, volume growth, liquidity, the efficiency and capacity of its execution system and new product offerings – all areas in which TAIFEX has excelled. TAIFEX demonstrated outstanding performance again in 2015. In product development, TAIFEX launched its first currency contract-RMB FX Futures. And, Taiwan’s first foreign equity index product-the TOPIX Futures, were introduced as a result of the collaboration with Japan Exchange Group. As well, TAIFEX listed 7 ETF Options to provide investors with more flexibility in trading strategies. Regarding new measures, TAIFEX extended the trading hours of ETF Futures and Options linked to China stock indices to 4:15pm. To sum up, trading volumes on TAIFEX reached an all-time record in 2015, once again surpassing the 200 million contracts benchmark, and up 30.67% from 2014. Looking ahead, TAIFEX will continue to meet the needs of market participants and boost the competitiveness of the Taiwan futures market through the provision of hedging and price discovery services, by accelerating the pace of international cooperation and by stimulating futures trading, while serving the needs of the real economy.

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    ACER is glad to invite you to its fifth Annual Conference “ACER: Past, Present and Future”, which will take place on 16 June. The Conference will take stock of ACER’s first five years and aim to define how the Agency can best contribute to the common goal of completing a well-functioning, competitive, sustainable and secure Internal Energy Market in the context of the Energy Union. The EU Commissioner for Climate Action and Energy, Miguel Arias Cañete, will honour our Conference with his presence and will deliver the keynote speech on the future of ACER within the EU Strategy for an Energy Union. You can register and find out more here.

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    State Bank of India (SBI) and Accuity win the Anti-Money Laundering (AML) Technology Implementation of the Year 2016 at The Asian Banker Awards today.read more...

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    CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for April 2016.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests continued growth in issuance of new corporate and municipal debt offerings over the next several weeks.read more...

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    Use of the SEC’s Internet submission form or send an e-mail to rule-comments@sec.govread more...

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    Source: National GeographicThis week marks the 20th anniversary of the tragedy that took the lives of Rob Hall,  Scott Fisher, and other members of their expeditions. Many of you may have read Jon Krakaeur's book, Into Thin Air, which chronicled the events of May 1996 in detail.  Others may have watched the Everest movie that came out last year.  Still others have seen the tremendous documentaries produced by David Breashears about the events of May 1996.  As most of my blog readers know, I've conducted extensive research on the decision-making processes of Everest climbers.    As part of that research, I've spent a considerable amount of time learning about the events of May 1996, including through multiple conversations with the leaders of the IMAX expedition team, Ed Viesturs and David Breashears.   Ed and David turned around, while the Hall and Fisher teams continued up the mountain.   Later Viesturs and Breashears helped rescue the survivors of the tragedy that took place when a blizzard occurred.  What are some lasting leadership lessons from that tragedy?  1.  Great leaders exercise restraint.   As David Breashears has told me, the best leaders don't simply order you up the mountain no matter what.   They listen to others' ideas before expressing their views.  They must be willing to gather input from a variety of people.  Unfortunately, he says, some leaders are not willing to listen to dissenting views.   The best leaders create a climate of psychological safety, where everyone is willing to speak up.   After gathering input and advice from multiple sources, the leader can make a more informed and thoughtful decision.  2.  Great leaders don't attribute all their past success to their own qualities and choices.  Instead, they acknowledge that past success hinged upon favorable environmental conditions, a strong team to support and assist them, an effective support network back at base camp and at home, and a significant dose of good fortune.   When leaders begin believing that past success is all about their own excellence, and fail to recognize other contributing causes, they get in big trouble.  3.  Great leaders recognize how cognitive biases can impair decision making, particularly in stressful situations.  They don't escalate commitment to failing courses of action in the presence of substantial sunk costs.   In other words, climbers don't simply keep climbing because they have put so much into the expedition (money, effort, time, and other resources that they cannot get back).   You can't look back; you must look ahead.  Don't keep moving forward simply because  you don't want to waste the investment you have already made.  Don't throw good money, or good effort, after bad!  Other biases include confirmation bias (looking for data that confirms what you already believe) and compensatory behavior (taking more risk because you know a safety mechanism or system redundancy is in place; in Everest's case, carrying supplemental oxygen can create a false sense of security according to Ed Viesturs).  4.  Great leaders don't build rigid plans.  As Dwight Eisenhower once said, "Planning is everything.  Plans are useless."   In other words, be incredibly prepared.  Be ready for all scenarios.  Prepare meticulously.  However, once the execution of your plan begins, be ready to adjust and adapt to conditions on the ground.  Don't build a rigid plan in a turbulent environment.  Retain flexibility.  Don't just try to work harder to "get back on plan" when things start unfolding in ways you did not predict.  In fact, great planning is not about predicting the future.  It's about preparing for multiple scenarios that might unfold in the future.  5.  Great leaders build a team around a shared vision, not simply a common goal.  What do I mean by that?  The Hall and Fisher expedition team members certainly all had a common goal: to reach the summit (we might argue that the more appropriate goal is to return safely to base camp).  The problem, though, is that each person was focused on their own personal attainment of that goal.  They didn't strive necessarily to achieve the summit as a team.  Contrast that with the shared vision of the IMAX team there in May 1996.  They strove to put a fifty pound camera on top of the mountain.  They wanted to create a great documentary.  It was not about individual accomplishment; it was truly a shared vision to create something extraordinary.   For more of my work on the 1996 Everest tragedy, see the HBS case study that I wrote, as well as the California Management Review article that I published.  In recent years, I also co-created (with Amy Edmondson) the Everest Leadership and Team Simulation, available from Harvard Business Publishing.  

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    Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that it has broadened its Global Post Trade Management (GPTM) solution, adding exchange-traded derivatives functionality through the acquisition of Dojima LLC.read more...

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    The Securities and Exchange Commission today charged a father and son and five associates with defrauding investors in sham Native American tribal bonds in order to steal millions of dollars in proceeds for their own extravagant expenses and criminal defense costs.read more...

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    Related documents:read more...

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    Building on its first vehicle, instigated by the Edmond de Rothschild Group in 2010, Ginkgo announces the first closing and launch of its second fund, Ginkgo 2, which targets the sustainable remediation of brownfield sites in urban areas. Ginkgo Fund 2 will be supported by the European Fund for Strategic Investments (EFSI), a cornerstone of the Investment Plan for Europe.read more...

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    The Iran International Exhibition of Exchange, Bank & Insurance will bring into focus the latest achievements in Bank, Exchange & Insurance, and is an opportunity for those with an interest in these areas to connect with interested parties.read more...

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    Related documents:read more...

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    The Office of the Comptroller of the Currency (OCC) today released its mid-cycle report on key actions completed to date to execute its annual Committee on Bank Supervision’s operating plan and on priority objectives for the remainder of the year.read more...