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Joint Forum of Financial Market Regulators continues work on collaboration and information sharing at its Annual Meeting

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The Joint Forum of Financial Market Regulators (Joint Forum) has concluded its Annual Meeting. The Joint Forum brings together members of the Canadian Council of Insurance Regulators (CCIR), the Canadian Securities Administrators (CSA), the Canadian Association of Pension Supervisory Authorities (CAPSA) and representation from the Canadian Insurance Services Regulatory Organizations (CISRO).  Representatives of the Financial Services Regulatory Authority of Ontario (FSRA) and the Mortgage Broker Regulators’ Council of Canada(MBRCC) also attended the meeting.

The dynamic nature of the financial services landscape was reflected in the Plenary Session, during which CAPSA introduced its Strategic Plan for 2019-22 and the CSA and CCIR provided highlights on its key initiatives. Themes included enhancing consumer protection and a focus on market conduct and efficiencies.

Angela Mazerolle, CAPSA Chair and Superintendent of Pensions and Insurance with the Financial and Consumer Services Commission (New Brunswick), shared CAPSA’s proposed initiatives which take into account the changing environment that has created opportunities for new plan designs, products, processes and requirements. CAPSA has considered the resulting complexities to develop a Strategic Plan that can assist pension plan administrators in meeting their fiduciary duty while protecting the entitlements of pension plan beneficiaries. The new Plan also includes a review and update of the Capital Accumulation Plans Guideline. CAPSA will collaborate with CCIR and CSA as it leads this initiative.

Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers presented an update on CSA members’ participation in the International Monetary Fund (IMF) Financial Sector Assessment Program (FSAP). The goals of this assessment are to gauge the stability and soundness of the financial sector and to assess its potential contribution to growth and development. The IMF assessment of the securities sector covered the analysis and review of securities and derivatives market intermediaries in Canada. Additionally, Mr. Morisset provided updates on the status of ongoing enhanced investor protection regulatory initiatives.

On behalf of CCIR, Patrick Déry, CCIR Chair and Superintendent, Solvency of the Autorité des marchés financiers brought forward two major milestones since last year’s Joint Forum meeting. In support of its priority of building cooperative supervision and aligning with best international practices, the Fair Treatment of Customers Guidance (Guidance) was released in September 2018, in partnership with CISRO. The Guidance sets out the overarching expectations of insurer and intermediary regulators across the country. CCIR also released its full fee disclosure requirements for segregated funds and is currently working with industry towards implementation. These initiatives will provide more information for consumers to make better decisions while strengthening confidence in the financial services sector. He also presented an update on the IMF FSAP assessment of the insurance sector.

This year’s meeting provided opportunities for focused discussion through break-out sessions on topical issues such as the integration of environmental, social and governance factors in investment decisions, international focus on consumer protection, financial exploitation of vulnerable investors and cybersecurity. Members were able to provide valuable insights on these issues in the cross-sectoral context. While discussing the complexities their sectors face in these areas, they were able to learn about each others’ experiences and challenges. Members also shared updates on ombudservice oversight across banking services and investments, life, health and general insurance sectors.

FSRA CEO, Mark White, provided an update on the implementation of Ontario’s new financial services regulator, including highlights of FSRA’s transformation mandate. Mr. White highlighted that FSRA’s objectives include national collaboration and harmonization of regulation, and FSRA welcomed the opportunity to engage with members of the Joint Forum.

MBRCC Chair and Director of Consumer Affairs with the Financial and Consumer Services Commission (New Brunswick), Alaina Nicholson, introduced the MBRCC and indicated that the MBRCC welcomed the opportunity to participate. Ms. Nicholson noted the broader, and often common challenges faced by financial services regulators, including the management of conflicts of interest, appropriate disclosures to consumers, product suitability, the emergence of digital service models, fintech and, of course, the increasing complexity of products.

 

SOURCE Joint Forum of Financial Market Regulators

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Explore the Future of Blockchain Technology at SANS Minneapolis Cyber Security Training Event

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SANS Institute, the global leader in cyber security training and certifications, today announced the agenda for SANS Minneapolis 2019 (#SANSMinneapolis) taking place August 12-17 in Minnesota. Course topics to include cyber defense, ethical hacking, penetration testing, SIEM, critical security controls, digital forensics, and security management. G. Mark Hardy (@g_mark), the founder and president of National Security Corporation will give an evening talk, “Blockchain: Building Better Business Models Securely”.

Hardy explains, “Blockchain as a technology has been proposed as a solution to everything from frictionless currency transfer to tracking cargo on ships. With over one billion dollars in venture funds invested and several hundred patents filed, every security professional must know the impact on organizations in terms of risk, volatility, and competitiveness. Join me in Minneapolis where we will explore the future of this technology. I’ll also share how to identify business processes at your organization that can be improved or enabled by blockchain.”

In addition to his talk Hardy will teach MGT514: Security Strategic Planning, Policy, and Leadership. This course provides students with the tools to become a security business leader who can build and execute strategic plans that resonate with other business executives. Students will learn how to create effective information security policy, and develop management and leadership skills to better lead, inspire, and motivate their teams.

SANS Minneapolis 2019 features cutting-edge courseware covering today’s most complex cyber security issues. Courses include SEC401: Security Essentials Bootcamp Style, SEC555: SIEM with Tactical Analytics, FOR572: Advanced Network Forensics: Threat Hunting, Analysis, and Incident Response, and SEC566: Implementing and Auditing the Critical Security Controls – In-Depth.

 

SOURCE SANS Institute

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Praxis Cashier Onsite At iFX EXPO

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Praxis Cashier, the leading Cyprus-based provider of online payment software and solutions, announced today that for the third consecutive year it will be participating in the iFX EXPO which runs from 21-23 May in Limassol.

The company has established itself as an innovator of new processing solutions, the latest of which offer lucrative opportunities for Internet businesses operating in Asia and Latin America.

The highly-experienced leadership of Praxis Cashier, backed by a top-notch staff, produces the fastest times for cashier launches on both new and existing brands. This includes integration times for new payment service providers.

“We have earned the right to say that we are the fastest integrator in the FX industry with multiple PSP integrations weekly,” said Amit Klatchko, Praxis Cashier’s founder and director. “And to top this off, we have earned an extensive roster of clients which includes quite a number of leading brands.”

Praxis Asia, which was unveiled in January at the iFX EXPO Asia in Hong Kong, targets FinTech and gaming firms with customers in ChinaIndonesiaMalaysiaThailand and Vietnam. This service includes “Praxis Bridge” which allows enhanced customization and routing of deposit limits and methods when it comes to country, currency, affiliate campaign and almost any other parameter.

The software provided by Praxis Cashier offers key revenue-enhancing features, including – single integration allowing access to more than 200 payment solutions, a modular back office which allows customization, and automated routing to the best performing payment service provider.

The services offered by Praxis Cashier are integration and data transfer only, and do not include transaction processing. The company is PCI Level 1 compliant.

Praxis Cashier will be located at Booth #119 at iFX EXPO and will have personnel available to meet with prospective clients.

 

SOURCE Praxis Cashier

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CEO-CMO Summit Vietnam 2019 will take place on May 31

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How has the Vietnamese market changed with the trend of global digital racing? What do typical businesses have and will do to lead or catch up with competitors in this “race”? What do business leaders do to not be left behind? The answer will be found at the Vietnam CEO-CMO Summit Vietnam 2019 which will take place on this May 31.

The digital “revolution” in Vietnam and noticeable numbers

In recent years, Vietnam has become one of the potential markets for businesses with the development of smartphones’ platform. A report by the global Mobile Marketing Association (MMA) has shown that the increase in smartphone market penetration and the use of mobile data increasing in both urban and rural areas has “flared up” the budget for advertising on mobile devices in Vietnam. Approximately $77.1 million was spent in 2017, double the figure of  $38.5 million in 2016, accounting for about 50-60% of the total budget for digital advertising activities of most major brands.

More notably, for about 70% of the population living in rural areas, mobile phones have become a basic communication tool and an integral part of many people’s lives and work. However, marketers still face many difficulties in reaching these targets because of the lack of market insight and consumer behaviour.

How does members of MMA react to this trend?

In the context that the digital “revolution” in the world in general and Vietnam in particular is happening at an extremely fast pace, many businesses have been adjusting their strategies to catch up with the era and consumer’s trend. Facebook – one of the board members of Vietnam Mobile Marketing Association (MMA) – has also taken a step forward with many breakthrough policies.

In the presentation at CEO-CMO Summit Vietnam 2018, Ms. Christy Leformer Facebook Country Director of Vietnam,emphasized: “Data is the tool to connect online users to offline.” Up to 90% of consumers shop at real stores, but 60% of them will decide to buy when they see products on the internet. Two online – offline platforms need to be coordinated and connected to effectively reach consumers and attract purchases. And according to her, data is the most effective tool to connect these two platforms.

Adtima – another member of the Management Board of MMA Vietnam is also a good example of business innovation to keep up with the digital race. “After the mobile era is the era of artificial intelligence (AI)” is the thought of Mr. Nguyen Anh TuanCEO of Adtima, when sharing about the journey and development orientation of technology companies. Based on users’ mobile behavior and habits, Adtima has succeeded in building an ecosystem of applications from music, news, chat, finance, … on mobile platforms.

However, for further development, advanced technologies such as AI need to be applied to connect users to the services and products they care about, towards convenience. He emphasized: “In the near future, Vietnamese people can use Zalo as their virtual assistant, like Safari, Cortana or Google Assistant.”

Meeting CEO – CMO Vietnam 2019 – opportunity to lead “racing” in the digital field

On May 31, 2019, CEO-CMO Summit Vietnam 2019 with the theme “Architect the Future of Marketing” will be organized by MMA with the participation of hundreds of leaders and marketers of large businesses from different industries in Vietnam.

In particular, the Summit will include Mr. Antoine De Carbonnel – Chief Commercial Officer of Go Jek will discuss the growth of shared services for developed countries. In addition, guest speakers Mr. Charles Ng – Deputy Enterprise Enterprise AI Appier and Mr. Bui Hai An – 7Eleven Digital Director will also analyze deeply to clarify the new trends in this “revolution” through key topics: How to segment audience and why it is important, CEO Panel – Data and development, the impact of E-business, Direct-to-Consumer approaches- new opportunities for brands, Take advantage of technology to connect the online and offline world, … This is a valuable opportunity for participants to update the latest knowledge and trends on how to use mobile channel in modern marketing.

In addition, joining the CEO-CMO Summit Vietnam 2019, attendees also have the opportunity to network with experts, as well as other marketers from domestic and foreign companies. Since then, individuals and businesses can join an active community, contributing to the development of marketing and mobile technology in Vietnam.

The CEO-CMO conference, organized by MMA Vietnam, will take place on May 31, 2019 at Mai House Saigon Hotel (District 3, HCMC). All CEOs and CMOs from businesses and brands are applying digital and mobile in marketing and business management activities as well as are interested in improvements of technologies such as AI, Blockchain, IoT … are welcomed at the Conference.

 

SOURCE MMA Asia Pacific Limited

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