How To Run a Meeting Effectively
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SIFMA Statement On âFINRA CEO Transition
SIFMA today issued the following statement on the Financial Industry Regulatory Authority’s (FINRA) announcement that its Board of Governors has appointed Robert W. Cook as president and CEO, effective the second half of 2016:
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FINRA Announces CEO Transition - Taps Former SEC Director Of The Division Of Trading And Markets
The Financial Industry Regulatory Authority (FINRA) today announced that its Board of Governors has concluded the CEO search, and appointed Robert W. Cook as President and Chief Executive Officer, effective the second half of 2016. Mr. Cook will succeed Richard G. Ketchum, who has served as Chairman and CEO since 2009. The Board intends to name a new Chairman in the coming months.
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Predicting Accurately: Focus on Outcomes First, Not the Details?
Theresa F. Kelly and Joseph P. Simmons have published a new study in the Journal of Experimental Psychology regarding our ability to make accurate predictions. Kelly and Simmons conducted 19 experiments involving over 10,000 research subjects. They studied people's ability to predict the outcomes of 724 professional sports contests. Interestingly, they found that participants were less effective at predicting the outcomes of games if they also were trying to predict details about the contests (e.g. if they tried to predict the number of hits each team would get in a baseball game, while also trying to predict the final score of the game).
Why might people become less effective in predicting the outcomes of games if they were also trying to forecast specific details about those contests? The scholars explain,
We believe that this happens because having people predict the details of an event makes them think about additional information that is unimportant for predicting other related outcomes; however, once this information is made accessible in memory, people are more likely to use it in their forecasts, decreasing the weight given to more important information. This suggests that a relatively simple way to improve predictions could be to take a top-down approach and start by first predicting the most general outcomes and then letting those forecasts guide predictions of more detailed outcomes. Importantly, this prescription is not intuitive, as most decision-makers feel compelled to try to think through all of the available details about an event before making their forecasts (Lovallo & Kahneman, 2003).
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Introducing The Food Truck Challenge!
I am very excited to announce the launch of a new online experiential exercise that I have developed in collaboration with Harvard Business Publishing and Forio (the same partners with whom I collaborated on two prior simulations including the Everest Leadership and Team Simulation). This new teaching tool is titled, New Venture Exercise: The Food Truck Challenge. Unlike my prior simulations, this exercise is designed to be run in just 30 minutes. Faculty members should be able to run the exercise and debrief it in a single class session. In this online exercise, students try to run a successful food truck in the city of Boomtown. Students work individually or in teams to achieve maximum revenue over 5 simulated weeks and win the "Food Truck Challenge." In each round, students make decisions about where to park and what menu item to offer in hopes of finding the best menu-location combination and yielding the highest sales. We believe that this exercise is well-suited for instructors teaching entrepreneurship, design thinking, new product development, innovation, and team/organizational learning topics and courses. I hope that many professors will take a look! ↧
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Verena Ross, ESMA Executive Director, Speaks At European Parliamentâs Public Hearing On Securitisation
Verena Ross, Executive Director of the European Securities and Markets Authority (ESMA), today gave a statement to the European Parliament’s Economic and Monetary Affairs Committee (ECON) at its Public Hearing on Securitisation.
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Weekly Announcements â June 13, 2016
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EBA Publishes Final Draft Technical Standards On Specialised Lending Exposures
The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) specifying how institutions should take into account and treat several factors when assigning risk weights to specialised lending exposures. The purpose of these RTS is to harmonise the assignment of risk weights to specialised lending exposures for institutions that apply the so called ‘supervisory slotting criteria' approach. These final draft RTS will be part of the Single Rulebook aimed at enhancing regulatory harmonisation in the banking sector in Europe.
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SEC: Muni Advisors Acted Deceptively With California School Districts
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Saudi Arabia's Capital Market Authority: Announcement Of The Board Of Directors And Senior Executives Trading Restriction Period
The Capital Market Authority announces the Board of Directors and Senior Executives Trading Restriction Periods according to Article (50) of the Listing Rules as the following:
- For companies which its fiscal interim period ends on 30/06/2016, the restriction period starts on 16/06/2016 and ends on the date of announcing the interim financial statements after assessing the company.
- For companies that follow the Hijri Calendar and which its fiscal interim period ends on 30/09/1437 H corresponding 05/07/2016 (according to Umm Al-Qura Calendar), the restriction period starts on 16/09/1437 H corresponding to 21/06/2016 and ends on the date of announcing the interim financial statements after assessing the company.
- For companies that follow the Hijri Calendar and which its fiscal interim period ends on 29/10/1437 H corresponding 03/08/2016 (according to Umm Al-Qura Calendar), the restriction period starts on 15/10/1437 H corresponding to 20/07/2016 and ends on the date of announcing the interim financial statements after assessing the company.
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La Française De l'Energie Lists On Euronext Paris - 37.5Mmillion Raised - Market Capitalisation â¬125 Million
EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for small and medium-sized companies (SMEs), today welcomed La Française de l’Energie, a key player in local energy production, on its first day of trading in compartment C of the Euronext Paris regulated market.
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FINRA Announces CEO Transition - Taps Former SEC Director Of The Division Of Trading And Markets
The Financial Industry Regulatory Authority (FINRA) today announced that its Board of Governors has concluded the CEO search, and appointed Robert W. Cook as President and Chief Executive Officer, effective the second half of 2016. Mr. Cook will succeed Richard G. Ketchum, who has served as Chairman and CEO since 2009. The Board intends to name a new Chairman in the coming months.
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SEC Chair Mary Jo White Statement On FINRA's Appointment Of Robert Cook As CEO
I want to congratulate FINRA and Robert Cook on his selection as President and Chief Executive Officer. Robert served the Securities and Exchange Commission with great distinction, advancing a wide range of important initiatives that included significant enhancements to U.S. equity market structure. I have no doubt that Robert will be a tremendous leader for FINRA, and I look forward to working with him to further strengthen our markets and protect investors.
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Annual Russell US Index Reconstitution Period Begins With Posting Of Projected Additions & Deletions
On Friday June 10, leading global index provider FTSE Russell posted its official preliminary lists of companies expected to enter or leave the U.S. broad-market Russell 3000 Index and the Russell Microcap Index when the Russell indexes undergo their annual rebalance after US markets close on June 24. The lists of projected additions and deletions for the Russell indexes, including the Russell Global Index, are now available on the FTSE Russell website.
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International Securities Exchange Surpasses 50 Million Contracts Traded Through Implied Order Functionality
The International Securities Exchange (ISE) today announced that trading of multi-legged strategy orders through its Implied Order* functionality has exceeded 50 million contracts. ISE’s Implied Order functionality has accounted for approximately 5.6 percent of all non-crossing, multi-legged contract volume executed on ISE year-to-date.
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SEC: Muni Advisors Acted Deceptively With California School Districts
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CFTC Financial Data For Futures Commission Merchants Update
Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. Selected financial information from these reports is published below. The most recent month-end information generally is added within 12 business days after FCMs and RFEDs file their reports, but occasionally may be added later. For example: The 17th business day filing “due date" for February 28, 2015 financial reports was March 25, 2015. The 12 business day target for posting these data was April 10, 2015.
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Technological Innovation In The Financial Sector - Autorité Des Marchés Financiers Creates Fintech Working Group
The Autorité des marchés financiers (the “AMF”) has announced the creation of a fintech working group. Its primary mandate is to analyze technological innovations in the financial sector and anticipate regulatory and consumer protection issues.
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British Columbia Securities Commission Releases 2016 Annual Compliance Report Card
The British Columbia Securities Commission (BCSC) today published its 2016 Annual Compliance Report Card. The report card summarizes the compliance strengths and weaknesses found in B.C.-based portfolio managers, investment fund managers, and exempt market dealers over the past year.
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New York State Department of Financial Services Grants Virtual Currency License To XRP II, LLC, An Affiliate Of Ripple - Four Virtual Currency Firms Have Now Received Approval By DFS To Operate In New York
Maria T. Vullo, Acting Superintendent of Financial Services, today announced that the New York State Department of Financial Services (DFS) has approved the application of XRP II, LLC, an affiliate of Ripple Labs, Inc., for a virtual currency license.
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