The Centre for the Study of Financial Innovation is a forum for debate and research about the future of the international finance services sector.
FinTech for Breakfast
"There is a lot to chew on this month – our ninth F4B meeting. In particular, our regular guide to the FinTech labyrinth, Izabella Kaminska, has spent a good deal of time and effort following up claims that Bitcoin’s Satoshi Nakamoto was really just a tinny-loving Australian smoothie. You may have read her nicely balanced spread in the FT; my guess is that she will be a bit less nuanced when she speaks to us."
"IFRS 9 Financial Instruments, the new financial reporting standard issued by the IASB, will require banks to provide for “expected losses” on loans. Under the old “incurred loss” model, loans were not impaired until there was evidence of default. While avoiding a return to the bad old days of “hidden reserves”, IFRS 9 does require the upfront recognition of some expected losses. The initial top-slicing of profits is a step towards the old approach to reserving and perhaps also reflects pressure on the standard-setter – from politicians and prudential regulators – to do something."
Rent to Own
"We used to call it Hire Purchase – or, pejoratively, the 'never-never'. But, even though we were a bit sniffy about it, HP was a major, and legitimate, part of the UK’s financial life in the 50s and 60s – making it possible for more (if not most) of us to endorse the Tories’ election slogan, 'you've never had it so good'. Well, it’s back. Now it’s called “rent-to-own”, and its supporters promote it as an alternative to the sleazier end of the short-term lending market."
Politically Exposed Persons Regime
"The PEP regime is a big deal. It has recently hit the popular press because it turns out that our own MPs and members of the Lords may find themselves defined as ‘politically-exposed’ – and that can make it very difficult to do even routine financial business. But the PEP net is exceptionally wide, and it can catch people for whom it was not intended. And that can hurt the City of London. So, it is worth looking at just who is (and is not) a PEP."
Passporting and Brexit
"The CSFI does not take a position for or against Brexit. However, we are interested in the potential implications of a 'leave' vote for the City. The first item on our agenda is a broad issue that affects all of the individual financial services sub-sectors: passporting – or what will happen when/if UK-based companies lose their ability under the Single Market automatically to “passport” their services into the EU.
Jane Fuller, CSFI co-director, discusses the Office of Tax Simplification's agenda for 2016 and beyond.
Christine Allison, CSFI Financial Inclusion Fellow, talks to Malcolm Brown, director of the Church's Mission & Public Affairs Department, about the role of the Church of England in providing socially responsible financial services.
Jane Fuller, co-director of the CSFI, talks to Brian Bartaby (CEO of Proplend) following the Centre's April 26 round-table on innovations in property finance.
Jane Fuller, co-director of the CSFI, talks to Tim Jones (former CEO of NEST) following the Centre's March 7 round-table on the Chancellor's priorities for pensions reform.
Jane Fuller, co-director of the CSFI, talks to Tom Keatinge (RUSI) and Nigel Kirby (National Crime Agency) following the Centre's January 25 round-table on countering illicit financial flows.
The CSFI aims to bridge the gap between emerging financial innovators and established institutions through a programme of round-tables, presentations, product demos and workshops. Contact Harry Atkinson to find out more.
Financial World is the journal of ifs University College. Published six times per year in association with the CSFI, Financial World aims to bring together thought-provoking research and commentary on the health of the domestic and international financial services sector. The journal reaches around 20,000 financial services professionals, including all corporate and individual supporters of the CSFI.
Academic Expert Directory
The Academic Expert Directory is an online platform where academics and other specialists can connect with
financial services practitioners seeking expert advice. The service is simple to use - and free.
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