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18 Oct 14 - Financial Services News

Alibaba Is Making A Big Financial Services Push
The rebranding of the Alipay unit, whose legal name is Zhejiang Ant Small and Micro Financial Services Group Co, is part of a strategy by Alibaba and its affiliated companies to accelerate development of financial business.

Sydney struggling to keep up as technology challenges financial services industry
Sydney has the potential to follow London and New York in becoming a hub for the burgeoning financial services technology sector, a report has found.

Financial Services Council renews push for standards body
The country's biggest financial lobby group has ignored a frosty reception from the federal government and renewed calls for a new body to oversee financial advice standards.

Critics slam Financial Services Council proposal to set up regulatory body
The Financial Services Council said on Tuesday it was so concerned about the level of public distrust in Australia's financial planning industry that it wanted the government to establish an independent Advice Competency Standards Board comprising "key ...

Financial services slammed for conflicts of interest
SETTING new competency standards for financial advisors will not be enough to "dismantle the industry's product-selling culture", without ethical reform, a senior member of the Federal Government's financial literacy board has told a Senate inquiry.

Auction of coal blocks in 3 months Financial Services Secretary
This is what they have informed, in three months these (coal blocks) will go to auction," Financial Services Secretary G S Sandhu told reporters here.

Discover Financial Services Earnings Expected to Rise
Wall Street is optimistic about Discover Financial Services, which is slated to report its third quarter results on Tuesday, October 21, 2014.

Edelweiss Financial Services September-qtr Net jumps 72 pc to Rs 79 crore
Total income of the city-based diversified financial services company, which is into NBFC, insurance, stock broking and ARC rose 57 per cent to Rs 915 crore, company chairman Rashesh Shah said in a statement.

'Strange' neglect of finance in growth strategy
Corporate adviser Mark Johnson, who wrote a landmark report in 2009 calling for adjustments to Australia's regulatory and taxation framework to ensure the financial services industry could compete in Asia, said: “It does seem strange to omit the ...

Complaints against financial service providers down: FOS
There has been a decline in the number of disputes handled by the Financial Ombudsman Service (FOS) relating to financial services providers, the industry umpire's annual review reveals. In the last 12 months, FOS received 31,680 disputes - a decrease ...

Financial Services Council calls for independent governing body
The Financial Services Council has become so concerned about the level of public distrust in the financial planning industry that it is calling on the Abbott government to establish an independent governing body.

New Ph.D. program launches
10:11 a.m., Oct. 16, 2014--A new University of Delaware doctoral program in financial services analytics (FSAN) teaches students to become experts at performing detailed research and analysis with large swaths of electronic information known as “big ...

UK financial services growing at fastest rate since crisis
Britain's financial services sector is growing at the fastest rate since before the financial crisis, according to the latest snapshot of the industry from the CBI.

FINRA And The Future Of Social Media In Financial Services
The future of social media in the financial services industry is “applying 20th Century rules to 21st Century technology,” says Joseph Price, Senior Vice President and Counsel, FINRA Corporate Financing and Advertising Regulation.

Parsonex Financial Services aggressively expanding in Colorado and other states
DENVER, Oct. 17, 2014 /PRNewswire/ -- Parsonex Financial Services, Inc., a Colorado based financial services firm, is ramping up recruiting efforts this fall in an effort to attract experienced financial advisors and professionals looking to break into ...

IT Innovation in Financial Services: 2 Roads Diverged?
The banking industry has traditionally been at the forefront of technology innovation. In recent years however, financial services has been broadsided by a number of intersecting dynamics that have slowed down the pace of innovation. Complex and costly ...

Efma and Accenture Announce 2014 Global Financial Services Award Winners
The winners were selected by a combination of votes from a panel of judges composed exclusively of senior retail bankers from around the world and online votes from Efma members, which include 3,300 retail financial services companies in more than 130 ...

Financial services industry dominates trading in Nigerian bourse
The Financial Services Industry led the activity chart this week on the Nigerian Stock Exchange (NSE) with 1.446 billion shares valued at N14.789 billion (about 98.5m) traded in 13,653 deals.

Women in Financial Services nominees revealed
Money Management and Super Review have unveiled the finalists of their second annual Women in Financial Services awards. The awards recognise excellence and advocacy from women across the financial services spectrum, with twelve award ...

TPG Capital to buy Janalakshmi Financial Services Ltd minority stake for Rs ...
MUMBAI: American private equity fund TPG Capital will purchase a minority stake in microfinance institution Janalakshmi Financial Services Ltd, promoted by former Citigroup Inc banker Ramesh Ramanathan, for Rs 610 crore, two people with direct ...

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