Noreika to CFPB: Delay arbitration rule | Odds about even for another 2017 rate increase | Treasury solicits industry feedback on FSOC
July 19, 2017
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Risk Management and Insurance
Noreika to CFPB: Delay arbitration rule
Acting Comptroller of the Currency Keith Noreika is asking the Consumer Financial Protection Bureau to delay a rule that would prohibit most arbitration clauses in bank contracts. Noreika says he wants time to determine whether the rule would put banks at risk.
The Wall Street Journal (tiered subscription model) (7/17) 
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Odds about even for another 2017 rate increase
Markets are pricing a 48.8% chance the Federal Reserve will increase interest rates again this year as retail and inflation data disappoint. The central bank appears to be moving toward a downgrade in economic-growth forecasts, with the Federal Reserve Banks of New York and Atlanta paving the road.
Business Insider (7/15),  Financial Times (tiered subscription model) (7/14) 
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Treasury solicits industry feedback on FSOC
Treasury officials have met with industry representatives as part of a review of the Financial Stability Oversight Council's methodology for designating systemically important financial institutions. Industry representatives called for elimination of the SIFI label and instead recommended flagging of risky activity.
Bloomberg (7/14) 
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Index: Hedge fund performance better in 2017's first half
Data from Hedge Fund Research show returns increased almost 4% in the first six months of 2017, led by the HFRI Equity Hedge (Total) Index, which returned 6.25%. June was the eighth straight month of improvement, said HFR President Kenneth Heinz.
Pensions & Investments (free access for SmartBrief readers) (7/11) 
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Cybersecurity
Report: Economic cost of worldwide cyberattack could reach $53B
The average economic losses from a worldwide cyberattack could reach as high as $53 billion, according to a report by Lloyd's of London and Cyence. Actual losses of such an attack could total as much as $121 billion, with underinsured organizations facing as much as $45 billion in losses that aren't covered, the report says.
Reuters (7/17) 
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Government Regulation
Fed reviews leverage ratio's effect
Fed reviews leverage ratio's effect
Yellen (Chip Somodevilla/Getty Images)
The Federal Reserve is reviewing the supplementary leverage ratio to determine whether the rule imposes "unintended consequences" on derivatives clearing, Chair Janet Yellen told the House Financial Services Committee. Although banks aren't yet required to comply with the leverage ratio, some financial institutions have adopted it, asset managers say.
MLex (subscription required) (7/12) 
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Innovation
Financial products tackling social issues emerge
Ethical investors face the challenge of determining whether financial products marketed as addressing social issues are truly effective as the market for such products expands.
Financial Times (tiered subscription model) (7/17) 
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News from Aon
Aon announces Q2 2017 earnings release and conference call
Aon plans to announce second-quarter and full-year 2017 results on Friday, Aug. 4, in a news release to be issued before the market opens. Greg Case, president and CEO, will host a conference call at 7:30 a.m. Central time on Aug 4. Read more.
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How to harness the talent of the on-demand workforce
There's no better time to get something than at exactly the moment you need it. The rapid growth of the "on-demand" economy, where goods and services are ordered online and delivered promptly, has meant a new way of doing business -- and working. How are businesses harnessing this on-demand talent? Learn more.
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About Aon Financial Institutions
The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations.

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Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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