managing director – Save Western OH http://savewesternoh.org/ Sat, 19 Mar 2022 15:46:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://savewesternoh.org/wp-content/uploads/2021/08/cropped-icon-32x32.png managing director – Save Western OH http://savewesternoh.org/ 32 32 ‘Crypto Winter’ Threatens to Chill a Hot Zone for Finance Jobs https://savewesternoh.org/crypto-winter-threatens-to-chill-a-hot-zone-for-finance-jobs/ Sun, 06 Feb 2022 08:00:00 +0000 https://savewesternoh.org/crypto-winter-threatens-to-chill-a-hot-zone-for-finance-jobs/ The surge in cryptocurrencies over the past year has had a very positive effect in the real world: a job boom. The surge in cryptocurrencies last year has had a very positive effect in the real world: a job boom at startups and other companies trying to get in on the action. Now that many […]]]>

The surge in cryptocurrencies over the past year has had a very positive effect in the real world: a job boom.

The surge in cryptocurrencies last year has had a very positive effect in the real world: a job boom at startups and other companies trying to get in on the action. Now that many tokens have crashed by as much as 50% or more in a matter of months, companies in the industry are much more cautious in their plans, according to Hany Rashwan, co-founder and managing director of exchange provider 21Shares – traded products that invest in cryptocurrencies. Still, Rashwan says his company, which manages about $2.5 billion in assets, is firmly sticking to its hiring plans.

Rashwan joined the “What Goes Up” podcast to talk about the effects of the so-called “crypto winter” and how 21Shares was able to grow rapidly in just three years. Below are the condensed and slightly edited highlights of the conversation. Click here to listen to the entire show and subscribe to Apple Podcasts or wherever you listen.

Q: You had very ambitious hiring plans. And obviously, that’s the story you’ve heard everywhere, companies are really growing and a lot of venture capital is coming. What do you think is the mood in the industry after this ugly crypto selloff? Does it make you question your plans?

A: Of course, that changes the scene. People are more cautious. Suddenly, the companies that more casually sponsored $1 million for conferences, mostly crypto insiders, are probably rethinking some of them; companies that were not on solid ground. Well, now we see who is swimming without a bathing suit.

Now, lots of sun is the best disinfectant here. And so that makes everyone more cautious, which is probably why the data shows that downturns are better times to build businesses. All is not well. You have to make sacrifices. You have to think about this or that, which is a new paradigm shift for our industry. But you are honest with yourself. You are intellectually honest with yourself. You saw it coming, if you pay attention. You’ve seen this coming if you’re into crypto for sure because we normally do and will continue to do so for some time. You prepare for it.

So we still have all these hiring plans. We have 40 or 50 positions open. We are 125 people now, compared to around twenty about a year ago. But we’ve been a smart squirrel during the bull market and really stockpiled to make sure we’re not only safe now, but can be opportunistic. We were extremely profitable, we remain quite profitable. But the extra attention to detail is something I definitely miss during bull markets where everyone is a genius. And I wish the prices were higher – I still do, but I know they will be higher in a year.

Q: Tell us about 21Shares and your biggest products.

A: I grew up in America, as did my co-founder. And so the fact that we built the company in Switzerland was very much on purpose. What we were just looking to do in the beginning was to put crypto into a safe, accessible, known package or wrapper. For many people, buying ETFs is easier; for some people, buying ETFs is necessary. And we didn’t find any of these products there. There were many reasons why not, but we traveled the world. We spoke to 27 different jurisdictions, different regulators around the world, before settling on Switzerland, and then using Switzerland as a base from which to expand.

The first product we launched was actually a bit of a complicated product. We first listed what was the world’s first and only index fund. And so it was an index of the top five cryptos that were 75%, 80% of the market with one stock. And it was the first time anything in the world was listed on an exchange that was physically backed. These are physically backed commodity ETPs, and we put crypto in them.

Right now we have maybe about $2.5 billion spread over about 25 products in total. We will double or even triple the product line this year. We cover everything from unique assets like the most popular, Bitcoin, Ethereum, to some more esoteric and younger ones like Polkadot, or Chainlink or Solana, or Binance Coin. We also have a bunch of indices if you want to buy thematic baskets, and we also have the only short Bitcoin in ETP format.

Q: Do you see any interest from institutions to get into DeFi (decentralized finance)? What would it take to get them involved?

A: The institutions are not there. They’re on their way, but everyone’s on their way to something. I think they still need a lot, especially if it’s big pension funds and big insurance companies and so on. The good thing is that they’re looking at falling bond yields, interest rate issues, absolutely low, sometimes negative yields — like in Switzerland, it’s minus 75 basis points, that’s what the bank charges you against your balance — and they’re seeing all this and they have to do something about it.

So those are actually some of the best conversations we’ve had, but those are the conversations we’ve had that we know will take another two, three, four, maybe five years to come to fruition. And that’s fine – you keep investing in it. But I think it will be a while before that really tips the scales, which is what makes it such a unique asset class, because I’m pretty sure most asset classes are from first adopted by the institutions.

Q: Tell us about Amun (a token provider that Rashwan runs alongside 21Shares co-founder Ophelia Snyder) and what index tokens are.

A: It’s all about the end consumer, when you think about it. If our mission is to make crypto more accessible, and what we see ourselves doing is just building bridges in the world of crypto, if you want to push that analogy to the limit, then there are different vehicles for different people on this bridge. And that’s how we see tokens overall, just conceptually is that for some people the product that makes the most sense is an ETF. My mother, for example, fund manager, for example. But for some people, and it could either be a mix of maybe someone who’s more technically savvy and more advanced in crypto, maybe they’re in a geography where in a foreseeable future, A) we will not be listed locally on a local stock exchange, and B) they will not have access to the markets in which we are located.

Most people in the world do not have access to the US stock system. And that in itself is the biggest, not to mention the German stock market or the French stock market. And so we want to have a product, whether you’re in Guatemala or Germany, and we want to continue to have that. And there are indexes that I can give you in an ETP format, but if you want to do thematic allocation in, say, the metaverse, or DeFi, or whatever, and you want it for a reason whatever like a Solana token or an Ethereum token, we should have that product, it should also have our name on it.

That’s the basic summary of why we make tokens and how we think it’s about greater accessibility. You touch on some very interesting things, though, in terms of what kind of products you can put on tokens because it turns out when you start doing that then you’ll see there’s a lot of things I can doing with tokens impossible to do with ETFs and a few others the other way around, but most tokens are better in many technological ways.

]]>
‘Crypto Winter’ threatens to chill hot zone for finance jobs https://savewesternoh.org/crypto-winter-threatens-to-chill-hot-zone-for-finance-jobs/ Sun, 06 Feb 2022 08:00:00 +0000 https://savewesternoh.org/crypto-winter-threatens-to-chill-hot-zone-for-finance-jobs/ (Bloomberg) — The surge in cryptocurrencies last year has had a very positive effect in the real world: a job boom at startups and other companies trying to get in on the action. Now that many tokens have crashed by as much as 50% or more in a matter of months, companies in the industry […]]]>

The surge in cryptocurrencies last year has had a very positive effect in the real world: a job boom at startups and other companies trying to get in on the action.

Now that many tokens have crashed by as much as 50% or more in a matter of months, companies in the industry are much more cautious in their plans, according to Hany Rashwan, co-founder and managing director of exchange provider 21Shares – traded products that invest in cryptocurrencies. Still, Rashwan says his company, which manages about $2.5 billion in assets, is firmly sticking to its hiring plans.

Rashwan joined the “What Goes Up” podcast to talk about the effects of the so-called “crypto winter” and how 21Shares was able to grow rapidly in just three years. Below are the condensed and slightly edited highlights of the conversation. Click here to listen to the entire show and subscribe to Apple Podcasts or wherever you listen.

Q: You had very ambitious hiring plans. And obviously, that’s the story you’ve heard everywhere, companies are really growing and a lot of venture capital is coming. What do you think is the mood in the industry after this ugly crypto selloff? Does it make you question your plans?

A: Of course, that changes the scene. People are more cautious. Suddenly, the companies that more casually sponsored $1 million for conferences, mostly crypto insiders, are probably rethinking some of them; companies that were not on solid ground. Well, now we see who is swimming without a bathing suit.

Now, lots of sun is the best disinfectant here. And so that makes everyone more cautious, which is probably why the data shows that downturns are better times to build businesses. All is not well. You have to make sacrifices. You have to think about this or that, which is a new paradigm shift for our industry. But you are honest with yourself. You are intellectually honest with yourself. You saw it coming, if you pay attention. You’ve seen this coming if you’re into crypto for sure because we normally do and will continue to do so for some time. You prepare for it.

So we still have all these hiring plans. We have 40 or 50 positions open. We are 125 people now, compared to around twenty about a year ago. But we’ve been a smart squirrel during the bull market and really stockpiled to make sure we’re not only safe now, but can be opportunistic. We were extremely profitable, we remain quite profitable. But the extra attention to detail is something I definitely miss during bull markets where everyone is a genius. And I wish the prices were higher – I still do, but I know they will be higher in a year.

Q: Tell us about 21Shares and your biggest products.

A: I grew up in America, as did my co-founder. And so the fact that we built the company in Switzerland was very much on purpose. What we were just looking to do in the beginning was to put crypto into a safe, accessible, known package or wrapper. For many people, buying ETFs is easier; for some people, buying ETFs is necessary. And we didn’t find any of these products there. There were many reasons why not, but we traveled the world. We spoke to 27 different jurisdictions, different regulators around the world, before settling on Switzerland, and then using Switzerland as a base from which to expand.

The first product we launched was actually a bit of a complicated product. We first listed what was the world’s first and only index fund. And so it was an index of the top five cryptos that were 75%, 80% of the market with one stock. And it was the first time anything in the world was listed on an exchange that was physically backed. These are physically backed commodity ETPs, and we put crypto in them.

Right now we have maybe about $2.5 billion spread over about 25 products in total. We will double or even triple the product line this year. We cover everything from unique assets like the most popular, Bitcoin, Ethereum, to some more esoteric and younger ones like Polkadot, or Chainlink or Solana, or Binance Coin. We also have a bunch of indices if you want to buy thematic baskets, and we also have the only short Bitcoin in ETP format.

Q: Do you see any interest from institutions to get into DeFi (decentralized finance)? What would it take to get them involved?

A: The institutions are not there. They’re on their way, but everyone’s on their way to something. I think they still need a lot, especially if it’s big pension funds and big insurance companies and so on. The good thing is that they’re looking at falling bond yields, interest rate issues, absolutely low, sometimes negative yields — like in Switzerland, it’s minus 75 basis points, that’s what the bank charges you against your balance — and they’re seeing all this and they have to do something about it.

So those are actually some of the best conversations we’ve had, but those are the conversations we’ve had that we know will take another two, three, four, maybe five years to come to fruition. And that’s fine – you keep investing in it. But I think it will be a while before that really tips the scales, which is what makes it such a unique asset class, because I’m pretty sure most asset classes are from first adopted by the institutions.

Q: Tell us about Amun (a token provider that Rashwan runs alongside 21Shares co-founder Ophelia Snyder) and what index tokens are.

A: It’s all about the end consumer, when you think about it. If our mission is to make crypto more accessible, and what we see ourselves doing is just building bridges in the world of crypto, if you want to push that analogy to the limit, then there are different vehicles for different people on this bridge. And that’s how we see tokens overall, just conceptually is that for some people the product that makes the most sense is an ETF. My mother, for example, fund manager, for example. But for some people, and it could either be a mix of maybe someone who’s more technically savvy and more advanced in crypto, maybe they’re in a geography where in a foreseeable future, A) we will not be listed locally on a local stock exchange, and B) they will not have access to the markets in which we are located.

Most people in the world do not have access to the US stock system. And that in itself is the biggest, not to mention the German stock market or the French stock market. And so we want to have a product, whether you’re in Guatemala or Germany, and we want to continue to have that. And there are indexes that I can give you in an ETP format, but if you want to do thematic allocation in, say, the metaverse, or DeFi, or whatever, and you want it for a reason whatever like a Solana token or an Ethereum token, we should have that product, it should also have our name on it.

That’s the basic summary of why we make tokens and how we think it’s about greater accessibility. You touch on some very interesting things, though, in terms of what kind of products you can put on tokens because it turns out when you start doing that then you’ll see there’s a lot of things I can impossible to do with ETFs and a few others the other way around, but most tokens are better in many technological ways.

These are just the highlights. Click here to listen to the full podcast.

]]>
Chief Financial Officer – Bristol | Careers and jobs as a bookseller https://savewesternoh.org/chief-financial-officer-bristol-careers-and-jobs-as-a-bookseller/ Mon, 13 Dec 2021 11:24:27 +0000 https://savewesternoh.org/chief-financial-officer-bristol-careers-and-jobs-as-a-bookseller/ [ad_1] Bristol University Press (BUP) is an award-winning social science publisher committed to making a difference and influencing social change. We are looking for a new CFO who will lead financial planning, budgeting, forecasting, analysis and reporting. The incumbent will ensure both the proper functioning of daily financial processes and the delivery and continuous improvement […]]]>


[ad_1]

Bristol University Press (BUP) is an award-winning social science publisher committed to making a difference and influencing social change.

We are looking for a new CFO who will lead financial planning, budgeting, forecasting, analysis and reporting. The incumbent will ensure both the proper functioning of daily financial processes and the delivery and continuous improvement of high quality management information and analysis.

We are looking for a highly motivated and proactive CFO who can provide excellent financial advice and support to improve decision making, enable strategic initiatives and improve financial performance.

What are you going to do?

The incumbent will be responsible for the finance function of the BUP in liaison with the finance team at the University of Bristol. The incumbent will report daily to the CEO of BUP and join the press management team. They will have the line responsibility of the finance and sales administrator.

You should apply if

The ability to communicate effectively with non-financial colleagues is crucial, along with a solid technical background in accounting, business acumen, and advanced Excel and modeling skills. Editing experience would be a plus.

Additional information

This ad will close at 23:59 GMT Sunday, December 19, 2021

Informal inquiries can be directed to Alison Shaw, Managing Director, BUP, (ali.shaw@bristol.ac.uk)

We welcome applications from all members of our community and especially encourage those from various groups, such as members of the LGBT + and BAME communities, to join us.

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Litigation Finance Companies Eye Law Firm Ownership in Arizona https://savewesternoh.org/litigation-finance-companies-eye-law-firm-ownership-in-arizona/ Mon, 29 Nov 2021 10:34:07 +0000 https://savewesternoh.org/litigation-finance-companies-eye-law-firm-ownership-in-arizona/ [ad_1] Two major litigation finance firms say loosening regulations in Arizona’s legal sector opens the door for them to co-own law firms. Burford Capital Ltd. and executives at Longford Capital Management LP said that with Arizona no longer requiring lawyers to own firms – and other states considering similar measures – legal partners will increasingly […]]]>


[ad_1]

Two major litigation finance firms say loosening regulations in Arizona’s legal sector opens the door for them to co-own law firms.

Burford Capital Ltd. and executives at Longford Capital Management LP said that with Arizona no longer requiring lawyers to own firms – and other states considering similar measures – legal partners will increasingly consider the benefits of non-equity interests. -avocados.

“Equity investors will begin to notice this,” said William Farrell Jr., co-founder and managing director of Longford, in an interview. “The first of these groups will likely be large-scale funders like Longford Capital, because we have the best connections and knowledge about what makes law firms successful.”

The ownership of litigation finance would be a sea change in the way businesses are structured and managed. Currently, financiers pay for individual lawsuits – or portions thereof – with a goal of profit if their parties win. But ownership would give lenders more say in how companies spend their money and which cases they take.

The Arizona model would let Burford work in all parts of a legal transaction, said Emily Slater, Burford chief executive. Burford would be “a larger investor in the profitability of the business over time,” she said, and he could “take that risk with the business as it continues to grow or contract.” .

Mid-sized businesses and litigation shops may be willing to accept litigation lenders on property deals, said Marcie Borgal Shunk, president of The Tilt Institute, a Houston-based law firm.

“I see opportunities for collaboration, especially at customer request or looking for a market disruption,” Shunk said. “There are many disruptive and forward-thinking firms out there looking to find a new and better way to deliver legal services. There is no reason that litigation funders cannot be part of this equation. “

Arizona experience

Arizona’s experience took root when the state Supreme Court struck down its version of ethics rule 5.4 last year. This rule prohibited lay people from having an economic interest in law firms or other legal service operations.

The Supreme Court’s goal with this ruling was to try to increase low- and middle-income Arizonans’ access to legal services.

The state has so far approved 12 companies to participate in its alternative business structure program since the regulatory changes came into effect on January 1. The companies include LZ Legal Services, an Arizona-focused subsidiary of online business and consumer law giant LegalZoom.

Graphic: Jonathan Hurtarte / Bloomberg Law

Other companies have applied, including Rocket Lawyer, who is already part of the legal services experience in Utah. California, New York, Illinois, Michigan, and North Carolina are other states considering regulatory changes.

Farrell of Longford said his company would most likely refrain from acting on a law firm’s co-ownership until other states beyond Arizona relax their rules.

He said he has not spoken to any of the 12 companies in the Arizona program, although he has discussed related topics over the past year with attorneys from several law firms. Farrell declined to name them.

“Share loyalty”

AmLaw 200 company Lewis Roca Rothgerber Christie, which has two offices in Arizona, has received a dozen calls and emails from most small private equity groups keen to discuss possible investments, Ken said Van Winkle, the managing partner of the company.

They all had the same answer: no. “It doesn’t work for us,” Van Winkle said.

Lewis Roca is expected to create a separate entity in Arizona because its offices in Colorado, Nevada, California and New Mexico are in states that prohibit non-legal business ownership, Van Winkle said.

He also said he was concerned about the search for profits that a funder or private investor would bring to a law firm partnership.

“Our work, our loyalty, our commitment is to our clients and not to an investor,” said Van Winkle. “I would worry about the possibility of divided loyalties.”

Such ownership could also compromise the independence of the lawyer, said Stephen Younger, a partner of Foley Hoag and former president of the New York Bar Association.

“If they were there,” he said of the litigation funders, “around the table at a partners meeting, it’s a very different dynamic”.

VIDEO: Roy Strom of Bloomberg Law provides an overview of the growing practice of litigation finance and explains what it means for the future of business law.

Profit motive

Longford and other litigation funders argue that their co-ownership roles would encourage companies to make sustained investments in innovations such as legal technology that would help them in the long run.

Farrell said the partnerships would benefit clients through reduced legal fees and by attracting senior C Suite executives, including non-lawyers, to run the new businesses.

Clients should not be concerned that profit motives may override the independence of lawyers under new ownership models, Burford chief executive Andrew Cohen said in a written statement.

Arizona Ethics Rule 2.1, for example, already requires lawyers to “exercise independent professional judgment,” regardless of external factors such as funding, he said.

“So when non-attorney ownership is allowed, when a lawyer is advising a client, their ethical obligation is first and foremost to that client, just like in any other type of funding situation,” Cohen said.

Industry growth

Litigation financing grew into a $ 39 billion industry worldwide in 2019, according to AmLaw 200 Brown Rudnick. While backers are typically only paid if the lawsuits result in monetary rewards, returns can reach two to three times their investment.

Burford said earlier this year that he will receive $ 103 million as a result of funding a lawsuit brought by Tatiana Akhmedova, the ex-wife of billionaire Farkhad Akhmedov, in the biggest financial dispute ever seen by UK divorce courts. Bloomberg News reported. Akhmedov agrees to pay 135 million pounds (186 million dollars).

Burford’s investment in a damages suit following Argentina’s 2012 nationalization of state-run oil producer YPF SA, known as the “Peterson” case, had grossed $ 236 million. dollars to the company in March.

But business doesn’t always end well. Pravati Capital, which works with individual attorneys and small firms, has been forced to arbitrate with at least 14 of its clients partly over allegations that deals with law firms guaranteed the company to be reimbursed even if the funded case loses, according to a Bloomberg Law account.

Pravati, based in Scottsdale, Ariz., Declined to answer questions about whether the company was considering businesses in Arizona due to the state law firm’s change in ownership rule.

Another litigation funder, Omni Bridgeway, also declined to comment.

Owners abroad

There is a precedent where litigation funders become co-owners of law firms abroad. In mid-2020, Burford acquired capital assumed a minority stake in the British law firm PCB Litigation.

But in the United States, other jurisdictions with larger legal markets must join Arizona in removing rule 5.4 – or at least approving experimental programs like the one in Utah, funding officials said. disputes.

That could happen within two to three years, Farrell said, as California and other major states have also started to assess the benefits of rule changes.

“It could become a popular trend,” Farrell said. “We want to be ready to seize the opportunities.

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Standard Chartered ‘Saadiq’ launches $ 100 million to support Islamic finance companies https://savewesternoh.org/standard-chartered-saadiq-launches-100-million-to-support-islamic-finance-companies/ Sun, 21 Nov 2021 08:00:00 +0000 https://savewesternoh.org/standard-chartered-saadiq-launches-100-million-to-support-islamic-finance-companies/ [ad_1] Standard charter ‘Saadiq’ announced, together with the Malaysian Halal Development Company, the launch of a $ 100 million Islamic finance program dedicated to supporting SMEs, companies and multinationals in Asia, the Middle East and Africa, with a focus on some of the major halal markets such as the Emirates United Arabs, Saudi Arabia, Malaysia, […]]]>


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Standard charter ‘Saadiq’ announced, together with the Malaysian Halal Development Company, the launch of a $ 100 million Islamic finance program dedicated to supporting SMEs, companies and multinationals in Asia, the Middle East and Africa, with a focus on some of the major halal markets such as the Emirates United Arabs, Saudi Arabia, Malaysia, Bahrain and Bangladesh and Pakistani.

The program, which was announced during Halal Week taking place at the UAE Expo, is part of Standard Chartered’s Halal360 proposal and aims to expand the Halal ecosystem across Asia, Africa. and the Middle East.

Khurram Hilal, Managing Director of Islamic Banking and Head of Group Islamic Products at Standard Chartered, said: “The halal economy is expected to grow exponentially and as a leading player in Islamic banking we are honored to support halal businesses across our global footprint. . We leverage our network in high growth markets to help businesses succeed by providing innovative financial solutions; thus contributing to the overall growth of the Halal business ecosystem. ”

Hairol Ariffein Sahari, CEO of HDC said, “This is indeed a great opportunity for HDC to meet one of the most vital needs of halal businesses, including multinationals (MNCs), enterprises and small and medium enterprises ( MSME), and that’s halal funding. The funding will enable Malaysian companies to enter the Middle East, Asia and other global markets, become self-reliant and more competitive at the national level with the ultimate goal of becoming Malaysian Halal Champions ”,

Halal Development Corporation Berhad (HDC) is spearheading the development of Malaysia’s integrated and comprehensive halal ecosystem and infrastructure to position Malaysia as the most competitive country and leader in the global halal industry. Established on September 18, 2006, HDC is also known as the central coordinator which promotes participation and facilitates the growth of industry players in the development of Malaysia’s halal ecosystem. An agency under the supervision of the Ministry of International Trade and Industry (MITI); it is the world’s first government-backed halal industry development company

Standard Chartered Saadiq is the only international Islamic banking network present in Asia, Africa and the Middle East. Standard Chartered “Saadiq” was named “Best Islamic Supply Chain Bank” at the Asset AAA Islamic Finance 2021 awards and offers a range of trade finance and liquidity management solutions that halal businesses can tap into to grow their businesses. activities and their footprint.

  • Polly Jean Harrison

    Polly is a journalist, content creator and spokesperson for North Wales. She has written for a number of publications, typically focusing on the topics of fintech, tech, lifestyle, and body positivity.

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Finance companies need to strengthen the financial literacy of their clients https://savewesternoh.org/finance-companies-need-to-strengthen-the-financial-literacy-of-their-clients/ Wed, 17 Nov 2021 05:00:39 +0000 https://savewesternoh.org/finance-companies-need-to-strengthen-the-financial-literacy-of-their-clients/ [ad_1] Financial illiteracy is by no means a new problem. But the Covid-19 pandemic has exacerbated and exposed vulnerabilities and inequalities within our society, including the large gap between those who know how to manage their finances and those who struggle to do so. If no collective action is taken by the public and private […]]]>


[ad_1]

Financial illiteracy is by no means a new problem. But the Covid-19 pandemic has exacerbated and exposed vulnerabilities and inequalities within our society, including the large gap between those who know how to manage their finances and those who struggle to do so.

If no collective action is taken by the public and private sectors to bridge these gaps, we will see even more widespread systemic inequalities in Britain and elsewhere.

The pandemic has revealed a harsh truth to many; that access to financial education and the security it offers around the world has been precarious for many years.

In February 2020 – before the pandemic took hold in the UK – the country’s Financial Conduct Authority found that 57% of adults polled in a survey felt nervous, overwhelmed or stressed when talking to financial service providers, or struggled to find appropriate funding. products or services. Some 37 percent found it difficult to rate financial products or found it difficult to shop.

June Felix, Global Managing Director, IG Group: “People need the right tools to be able to understand the opportunities and risks to manage their money and make their money work for them”

Several factors have contributed to this disturbing trend. They include the upheavals in the financing of pensions, following the switch from defined benefit (DB) pension plans to defined contribution (DC) plans.

These are made worse by changes in spending habits, as people move away from cash in favor of short and long term credit products. Meanwhile, the number of savings and investment choices continues to increase, with options ranging from the simplest to the most complex.

Simply put, as the individual’s demands for making critical financial decisions have increased (and show no signs of stopping), supportive financial education to inform that decision-making has not followed suit. rhythm.

As a leader in the financial services industry, I have seen these changes occur as the global financial environment transforms at breakneck speed, underpinned by the rapid acceleration in the use of technology.

For millennials and millennials, retirement will seem like a distant prospect, but the truth is, many are unprepared for it. Planning for retirement has completely shifted from the responsibility of employers and governments to that of the individual.

According to the Pensions Policy Institute, a leading retirement research organization, DB plan closures have resulted in a decrease in the number of private sector employees covered by DB plans. The number of active members covered by defined benefit plans increased from 3.5 million in 2006 to around 1 million in 2020.

Closing these DB plans in favor of defined contribution plans places the responsibility for long-term investment planning on those who are not currently prepared to manage these long-tail risks.

FT campaign on financial literacy and inclusion

The FT invites readers to join the FT FLIC campaign to promote financial literacy in the UK and globally

As the way we work evolves, people are increasingly exposed to ‘lack of retirement savings opportunities’, with jobs in the odd-job economy and zero-hour contracts generally not offering. no retirement benefits. Likewise, most people now change jobs several times in their lifetime – a trend that does not create natural opportunities to save regularly for retirement.

As the responsibility for retirement planning has shifted largely to individuals, a prolonged environment of low interest rates has simultaneously eroded people’s savings. This prompted them to take a more active look at their finances as a whole.

While investors today have more choices than ever before, driven largely by globalization and technological advancements, people need the right tools to be able to understand the opportunities and risks to manage their money and put their money to work. money for them.

Private and public sector organizations must act.

The Chinese have an old saying for the crisis: be aware of the danger but recognize the opportunity. As I contemplate the world we live in today, this truth makes sense to me when I consider my education and the responsibility I have as a leader in financial services. Although statistics show the lack of widespread financial literacy, there is an excellent opportunity for the public and private sectors to help raise levels of collective financial literacy.

Support for improving financial literacy requires a dual approach. First, companies that offer financial products must also provide transparent educational materials to help clients make more informed financial decisions.

The journey to competent financial literacy should be presented as an essential element of customer service and embedded in the culture of the company. Whatever products or services are offered, companies need to think about how those offers will be received in the market and who will use them.

FT Cop

Financial literacy education provides young people with the foundation for future prosperity and can help economically disadvantaged people escape poverty. Join the FT Flic campaign to promote financial literacy in the UK and globally

Donate to the Financial Literacy and Inclusion Campaign Here

In addition, organizations must integrate financial literacy into their ESG (environment, social and governance) strategy. Resources should be allocated to independent programs that support financial literacy at all stages of life, from youth to adulthood.

My passion for education, influenced by my childhood as a Chinese American, was a catalyst for me to personally become a founding donor of the Financial Times Financial Literacy Inclusion Campaign.

Working at a publicly traded company, my colleagues and I discussed how to evolve our ESG strategy to address social issues, with the aim of increasing resources for independent and education-focused programs.

As an example, IG Group has an existing partnership with Teach For All, an international non-profit organization that seeks to improve grassroots education. Here in the UK, we also partner with Teach First, providing the organization with funds and access to our people and their knowledge of the financial markets. These programs are just the start, as we evolve to directly support more financial literacy programs in the months to come.

At the same time, we have created a variety of online educational resources for our clientele ranging from technical education to macro market analysis for people at different stages of their investing knowledge.

We also take steps to ensure they have a level of understanding of financial products before using the more sophisticated products on our platform. It should be recognized that some products carry more risk than others. The crucial issue is to ensure that potential investors are properly informed before they begin their foray into online trading.

We recognize the need to be collaborative. The private sector must work together and strengthen the efforts of public sector organizations to advance financial literacy.

Not all products on the market will suit everyone. However, enabling people to make choices based on a solid foundation of education will make a huge difference in improving the overall financial health, not only of individuals but of society as a whole.

Technological innovation and the investment landscape will continue to evolve at a rapid pace. Giving people the knowledge they need to take advantage of these changes has the potential to be transformational.

June Felix is ​​Global Managing Director of the IG Group

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Live News Updates: IT, finance companies most ESG compliant in India; Infosys tops Crisil rankings https://savewesternoh.org/live-news-updates-it-finance-companies-most-esg-compliant-in-india-infosys-tops-crisil-rankings/ https://savewesternoh.org/live-news-updates-it-finance-companies-most-esg-compliant-in-india-infosys-tops-crisil-rankings/#respond Mon, 04 Oct 2021 17:44:35 +0000 https://savewesternoh.org/?p=227 [ad_1] Information technology and financial services players are the most environmental, Social, and governance (ESG) compliant companies in the country, and second-largest software exporter Infosys scoring the highest on the key metric, as per scores prepared by Crisil. Companies in oil and gas, chemicals, metals and mining, and cement companies have lower ESG scores, reflecting […]]]>


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Information technology and financial services players are the most environmental, Social, and governance (ESG) compliant companies in the country, and second-largest software exporter Infosys scoring the highest on the key metric, as per scores prepared by Crisil. Companies in oil and gas, chemicals, metals and mining, and cement companies have lower ESG scores, reflecting high natural-resource intensity, and thereby higher emission levels, extractive use of natural resources, potential adverse environmental and community impact, and generally more moderate levels of disclosure, it said.

!1 New UpdateClick here for latest updates

Twitter removes distorted map displaying J&K, Ladakh outside India

After drawing flak over displaying a distorted map of India that showed Jammu and Kashmir and Ladakh as separate country, Twitter has now removed the wrong map. The glaring distortion, which appeared on the career section of Twitter website under the header ‘Tweep Life’, had triggered a heavy backlash from netizens on Monday as they demanded strict action against the microblogging platform that has flouted various rules on multiple occasions in the past.#TwitterBan was trending on Twitter with almost 17,000 tweets. This is not the first time that Twitter has misrepresented India’s map. Earlier, it had shown Leh as part of China. The global map, which grossly misrepresented India’s boundaries, was removed on late Monday evening by Twitter following social media outrage.

India, US alliance most consequential of the 21st century, says Congressman

The relationship between India and the United States is the most consequential one of the 21st century, an influential American lawmaker said on Monday. “I believe the US-India alliance is the most consequential of the 21st century, which is why I’m proud to serve as Vice Chair of the US-India Caucus in the House,” Congressman Mike Waltz said in a tweet. Congressman Waltz is the Vice Chair of the Congressional caucus on India and Indian Americans. This is one of the largest country specific caucuses in the House of Representatives.

Third India-Bhutan Development Cooperation Talks were held today in a virtual mode. Govt of India has committed Rs 4500 crore for implementation of development projects & Rs. 400 crores for transitional Trade Support Facility during Bhutan’s 12th Five Year Plan (2018 – 2023): MEA

Airtel adds more spectrum in UP East to boost network capacity, data speed

Telecom operator Bharti Airtel on Monday said it has added another 28.2 megahertz spectrum to boost network capacity for high-speed data services and it is even ready for 5G technology. With this addition, Airtel claims to have the largest spectrum bank of 72.2 MHz in Uttar Pradesh (East) and is well positioned to serve the booming demand for data services.

Third seed Tsitsipas knocked out of Wimbledon in first round

Third seed Stefanos Tsitsipas became the first big name to exit Wimbledon on the first day of play Moday, losing 6-4, 6-4, 6-3 to Frances Tiafoe of the United States. It was quite a contrast in fortunes for the Greek who only a fortnight ago lost in five sets to Novak Djokovic in the French Open final.

During an operation between Pirtanr and Khukhra in Jharkhand today, troops detected an IED weighing about 10 kg and having a command mechanism in the forest area of village Bnadh. The recovered IED was demolished in situ by the troops: PRO, CRPF

In the meeting, it was unanimously decided to request Congress President Sonia Gandhi to decide the new Congress Legislature Party (CLP) Leader for the State: Devender Yadav, Congress Incharge, Uttarakhand

Uttarakhand High Court stays state Cabinet’s decision permitting Char Dham Yatra with limited number of pilgrims. The court has also ordered live streaming of Char Dham shrines. Next hearing on July 7.

Death toll in Florida building collapse rises to 10, 151 unaccounted for: Official

Reports AFP

DU admissions: Registrations for entrance-based, PG courses likely to start from 3rd week of July

The Delhi University is likely to begin registrations for admission to entrance test-based and postgraduate courses in the third week of July, at least a week prior to starting the process for the remaining merit-based undergraduate courses, a senior official said on Monday. The Supreme Court had on June 24 directed all state boards to declare the internal assessment results of Class 12 by July 31 and gave them 10 days to formulate and notify their evaluation schemes.

From PM Modi to his predecessors, all of them worked to improve relations with neighbours. Atal Ji (former PM Atal Bihari Vajpayee) in fact, once said, “Friends can change, not neighbours”

– Defence Minister Rajnath Singh in Leh

Special court denies bail to ex-IL&FS chairman Ravi Parthasarathy

A special court has denied bail to Ravi Parthasarathy, former Chairman of the bankrupt Infrastructure Leasing and Financial Services (IL&FS) and arrested by the Economic Offences Wing of state police, for allegedly defrauding investors to the tune of Rs 200 crore. Parthasarathy was refused bail recently by the Special Court constituted under the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act.

The bold measures announced by the Finance Minister strengthens India’s engagement with the world. Our Embassies will work proactively to expand tourist flows, utilizing free tourist visas and other supportive measures

– External Affairs Minister S Jaishankar

Healthcare industry captains on stimulus measures

  • Welcoming the announcement, Apollo Hospitals Group Chairman Prathap C Reddy said the announcement by the Finance Minister towards the support given to the healthcare sector is encouraging and augurs well for a quick recovery of India’s economy.
  • Healthcare industry body NATHEALTH President Harsh Mahajan said, “The pin-point focus on augmenting manpower and infrastructural resources for pediatric care is a welcome step and a new beginning.”
  • Welcoming the announcement, Max Ventilator CEO and Founder Ashok Patel said that the finance minister has announced Rs 50,000 crore for the health sector alone implies the centrality that the sector holds at the highest levels of the government.

Kerala gets 14% more NRI deposits at Rs 2.27 lakh crore in 2020

Bank deposits by non-resident Keralites rose 14 per cent to Rs 2.27 lakh crore in the pandemic-hit 2020, proving wrong the prediction that the state was in for a big trouble as over 12 lakh of them had returned to the state last year. According to the World Bank data, the country received USD 83 billion in remittances in 2020, down just 0.2 per cent from USD 83.3 billion in 2019. The Bank also said Kerala saw USD 267 drop in monthly remittances per NRI, without quantifying it, though. Yet this was a massive improvement from the widespread fears the planners in the state had at about 25 per cent plunge.

Two CRPF personnel, including officer, injured during encounter between security forces and militants in Parimpora area of Srinagar: Officials

Punjab DGP Dinkar Gupta today held a high-level meeting to review the recent drone movements and threats posed by them, in view of the IED explosion at the Air Force base in Jammu. Police chiefs have been directed to also identify drug hotspots and arrest drug smugglers.

Reports ANI

Stimulus package for tourism industry: Here’s what experts say

  • Tourism secretary Arvind Singh said the tourism ministry was in touch with both the industry and the finance ministry and called the measures ‘welcome steps.’
  • Rajeev Kohli, the joint managing director of Creative Travel that specialises in inbound travel said the measures were a bit like ‘smoke and mirrors.’
  • “The finance minister has fulfilled her obligation of mentioning tourism but there was little substance. For an industry that once accounted for such a huge portion of the Indian GDP and employment, the government felt about Rs 300 crore was sufficient to resolve 18 months of damage. Rs 10 lakh loans will be helpful for some of the smallest players for sure, but will not go far for the majority,” said Kohli.
  • Madhavan Menon, managing director at Thomas Cook India said the measures augur well for the tourism industry and will help build consumer confidence in travel.
  • MP Bezbaruah, secretary general at Hotel Association of India (HAI) said the finance minister’s announcement on free visas has a very strong symbolic message that the country has the confidence to welcome visitors and that tourism and hospitality is a strong pillar of the post-Covid economic recovery strategy.

Indian Olympic Association (IOA) accepts SRL Diagnostics’ offer to partner as ‘Lab Diagnostics Partner’ to provide services to Indian athletes and officials attending the 2020 Tokyo Olympic Games and 2024 Paris Olympic Games.

Stimulus package: Foxconn on PLI scheme extension for electronics

“We are delighted that the PLI scheme change in the base year has been extended by the Government of India in the light of a challenging year for all companies due to the pandemic situation. This thoughtful change will help us to accelerate our business and thereby achieve the qualifying revenue under the PLI Scheme,” said Josh Foulger, Country Head and Managing Director, Rising Stars Mobile (A Foxconn Technology Group Company).

Chinese EV battery maker CATL extends deal with Tesla

Chinese electric vehicle battery maker CATL said on Monday it has extended a battery supply deal with U.S. EV maker Tesla Inc to 2025. Ningde-based CATL said in a stock exchange filing that it would supply battery cells to Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, until December 2025.

Appointments Committee approves extension in the term of re-employment of Umesh Sinha as Deputy Election Commissioner, Election Commission of India, on contract basis for a further period of one year i.e. up to June 30, 2022, or until further notice: Govt of India

PM hails stimulus package

ASSOCHAM on Rs 6.29 lakh crore stimulus package

”Monetary expansion of the Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 1.50 lakh crore, as sought by ASSOCHAM through various presentations to the government, would provide immediate relief to the MSMEs which require immediate working capital with unlocking of the economy in several states,” ASSOCHAM secretary general Mr Deepak Sood said in a media release issued by the chamber.

FHRAI requests food safety regulator FSSAI to extend deadline for implementing new rules

  • The Federation of Hotel & Restaurant Associations of India (FHRAI) on Monday said it has made a representation to food safety regulator FSSAI to extend the deadline for mentioning FSSAI License number on bills given by food business operators.
  • The Food Safety and Standard Authority of India (FSSAI) has mandated Food Business Operators (FBOs) to mention FSSAI license or registration number on cash receipts or purchase invoice with effect from October 1 this year. FHRAI said that it is in favour of the FSSAI’s latest order.

Your Governor has not been charge sheeted. There is no such document. This is misinformation. I didn’t expect this from a senior politician. I have not taken stay from any Court in hawala charge sheet because there was none

– West Bengal Governor Jagdeep Dhankhar

More than 300 drone sightings post Aug, 2019 along Pakistan border: Agencies

  • Over 300 drones and unidentified flying objects have been sighted along the sensitive border with Pakistan post the 2019 abrogation of Article 370, central security agencies have said, even as they grapple to find a suitable technology to check these lethal sky-floaters.
  • A multitude of border security agencies have also been testing some indigenously-built counter-drone technologies in the rough jungle terrains, desert and marshes along the western front but have had little success till date, officials told PTI Monday.

Delhi Govt

Delhi Airport Customs has arrested two South African pax(s) for smuggling 18 kg white powder substance suspected to be Heroin (worth Rs 126 crores approx) concealed inside trolley bags. The two had arrived from Johannesburg via Doha on June 26.

Reports ANI

Goa CM, state BJP chief hail Centre’s tourism stimulus package

  • Goa Chief Minister Pramod Sawant and state BJP chief Sadanand Shet Tanavade on Monday welcomed Union Finance Minister Nirmala Sitharaman’s stimulus package for the tourism sector amid the COVID-19 outbreak.
  • The stimulus package includes five lakh free tourist visas, financial support to 11,000 registered tourist guides, travel and tourism stakeholders, providing working capital or personal loans to people in the tourism sector to discharge liabilities or restart businesses impacted due to Covid-19, among other benefits.

In Pics: Defence Minister Rajnath Singh inaugurates library at Thiksay Monastery in Ladakh

Foreign Secretary Shringla to address UNSC debate on children and armed conflict

  • Foreign Secretary Harsh Vardhan Shringla will address the United Nations Security Council (UNSC) high-level open debate on children and armed conflict on Monday evening through video conferencing.
  • According to the office of the Special Representative of the Secretary-General for Children and Armed Conflict, the open debate will consider the findings of the annual report of the Secretary-General on children and armed conflict.
  • It will also be an opportunity to focus on issues related to the implementation of the children and armed conflict agenda, including the mid-and long-term impact of the COVID-19 pandemic on the protection of children in conflict as well as the importance of a gender perspective in child protection, considering the specific risks faced by girls in armed conflict.

Handset PLI timeline extension: What experts say

  • “This extension would not only support the Government’s efforts to establish India as an integral part of the Global Value Chain (GVC) in the electronics sector, it will also support developing Indian Champion companies to tap the Global as well as Indian markets through the PLI,” Pankaj Mohindroo Chairman, India Cellular and Electronics Association (ICEA) said.
  • Sunil Vachani, executive chairman, Dixon Technologies called it a ‘timely’ announcement, “which not only serves the PLI companies but also boosts the confidence of many others who are keen on investing in the Indian manufacturing space,” said Sunil Vachani, executive chairman, Dixon Technologies.

Rupee ends flat at 74.19 per US dollar

The rupee inched up 1 paisa to settle at 74.19 against the US dollar on Monday amid firm crude oil prices and a lacklustre trend in domestic equities. At the interbank foreign exchange market, the rupee opened at 74.24 per dollar as against its previous close of 74.20. It hovered in a range of 74.18 to 74.27 during the day, before ending at 74.19 against the greenback.

PM has decided to release postal stamps in his (PV Narasimha Rao) memory in the presence of eminent people from Andhra Pradesh & Telangana

– MoS (Home) G Kishan Reddy

Punjab Congress leader Navjot Singh Sidhu to meet Rahul Gandhi in Delhi tomorrow.

Reports ANI

Handset PLI timeline extension: What expert says

“With this decision, the government will not only achieve all the objectives of industry building, job creation, and GDP growth, but the even bigger one is, that we have announced to the whole world that the government is there to support the industry. Now is the time for, “Make in India”,” said Hari Om Rai, chairman of Lava International.

The National Commission for Women today launched a project series – ‘Training Programme of Protection Officers in addressing Domestic Violence’ and their specific needs in responding to victims of domestic violence. Union Minister Smriti Irani also attended the inaugural session

SpiceJet plans to raise funds; shares gain over 2 pc

No-frills carrier SpiceJet plans to raise funds through issuance of equity shares or debt instruments and the proposal will be discussed at its board meeting on Wednesday. The proposal comes at a time when the airline industry is grappling with strong headwinds due to the coronavirus pandemic that has also resulted in less occupancy in many flights.

5.3 magnitude earthquake hits Bonin Islands, Japan

An earthquake with a magnitude of 5.3 jolted Bonin Islands, Japan, at 9.12 GMT on Monday, the US Geological Survey (USGS) said. The epicenter, with a depth of 16.16 km, was initially determined to be at 26.817 degrees north latitude and 142.9697 degrees east longitude.

I have written three letters for removal of West Bengal Governor. He is a corrupt man, his name was in the chargesheet of hawala jain case in 1996

– West Bengal CM Mamata Banerjee

Full breakup of economic relief measures announced today

We are assuming that there are people who are willing to travel…the free travel visa scheme will have an effect: Debashis Panda, secretary DFS

These measures to ensure money to come into the hands of small and medium enterprises

– Debasish Panda, secretary, DFS

Finance Minister Nirmala Sitharman’s stimulus package for economy totals Rs 6.29 lakh cr.

Snapshot of schemes announced today

Snapshot of schemes announced today

Govt to streamline process for PPP projects and asset monetisation: FM

The aim is to ensure speedy clearance of projects to facilitate private sector’s efficiencies in financing construction and management of infrastructure: Finance Ministry

Details of Power Distribution Scheme

Details of Power Distribution Scheme

FinMin announces Rs 3.03 lakh cr reform plan to charge up discoms

Govt announces new package to bring broadband to all villages

Govt announces new package to bring broadband to all villages

FM announces extension of production-linked incentives for large-scale electronics manufacturing by one year till 2025-26

Digital India gets Rs 19,041 cr support

Details of new package to boost exports

Details of new package to boost exports

Govt proposes to infuse equity in ECGC over 5 years to boost export insurance cover by Rs 88,000cr

To boost exports, govt announces Rs 33,000 cr package for exports through NEIA

Govt announces Rs 77.45 cr package for NERAMAC

India’s fight against malnutrition & to improve farmers’ income

Free foodgrain to poor till Nov 2021 to take total cost of Pradhan Mantri Gareeb Kalyan Anna Yojana to Rs 2.27 lakh cr: FM

Additional support to increase ICU beds, oxygen supply

Additional support to increase ICU beds, oxygen supply

Govt announces extension in PMGKAY which was launched last year for poor


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Key Corporate Governance Compliance Requirements for Financial Companies in Nigeria – Corporate / Commercial Law https://savewesternoh.org/key-corporate-governance-compliance-requirements-for-financial-companies-in-nigeria-corporate-commercial-law/ https://savewesternoh.org/key-corporate-governance-compliance-requirements-for-financial-companies-in-nigeria-corporate-commercial-law/#respond Mon, 23 Aug 2021 07:00:00 +0000 https://savewesternoh.org/key-corporate-governance-compliance-requirements-for-financial-companies-in-nigeria-corporate-commercial-law/ [ad_1] To print this article, simply register or connect to Mondaq.com. In this article, we have discussed the main Code compliance requirements and how CFs in Nigeria can put in place appropriate systems to ensure compliance. Based on company law, every Nigerian company is required to establish a board of directors (“the board”). Financial companies […]]]>


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To print this article, simply register or connect to Mondaq.com.

In this article, we have discussed the main Code compliance requirements and how CFs in Nigeria can put in place appropriate systems to ensure compliance.

Based on company law, every Nigerian company is required to establish a board of directors (“the board”). Financial companies (‘FC’) are not exempt. The board is generally responsible for ensuring that the objectives of the company are achieved by collectively directing the activities of the company, keeping in mind the interests of shareholders and other relevant stakeholders. The Central Bank of Nigeria (CBN) is one of the relevant stakeholders.

In general, the CF are required to comply with the provisions of the Code on Corporate Governance for Financial Companies in Nigeria 2018 (“the Code”) issued by the CBN.

What is a finance company?

The Financial Corporation is a sub-sector of Banks and other financial institutions and operates within the middle level of the economy’s financial services system, with particular emphasis on micro, small and medium enterprises (MSMEs). According to the Revised CBN Guidelines for Finance Companies in Nigeria, 2014, “a finance company refers to a company licensed and licensed to carry on business of providing financial services to individual consumers and industrial, commercial or business enterprises. agricultural. It plays a complementary role to the banks, by filling the financing gaps and by meeting the financial needs of its target customers “.

The CF may engage in the following activities, among others:

  • Consumer loans
  • Fund management
  • Asset finance (for example, finance lease and hire purchase)
  • Project funding
  • Financing of local and international trade
  • Debt factoring
  • Financial advice

Corporate governance compliance requirements

As part of the CBN’s initiatives to establish financial stability and transparency in the financial corporations sub-sector, the CBN published the Code. Compliance with the Code is not optional for the CF. Below are some of the main Code compliance requirements:

Succession plan

The board should ensure that a succession plan is in place for the CEO / CEO (“MD / CEO”), executive directors and other senior management staff.

Approval threshold for financial transactions

The Board must set approval thresholds for each financial transaction and include these thresholds in its Standard Operations Manual (SOP).

Board composition and size

The board of directors of any FC must have a minimum of five (5) and a maximum of nine (9) directors at any given time, with at least fifty-one percent of the board members being non-directors. executives (“NED”). . It is also compulsory for each CF to have at least one (1) Independent Non-Executive Director (‘INED’) within its Board of Directors.

Separation of powers

A separate person will serve as Chairman of the Board of Directors and Managing Director / Managing Director. These two positions cannot be assigned to one person. It is also important to note that no member of the same family can occupy these two (2) positions.

Appointment of directors

Each appointment of directors must be approved by the CBN. The CF are encouraged to first seek CBN approval after shareholder resolution before filing statements with the Corporate Affairs Commission (‘the CAC’).

Mandate of directors

NEDs serve on the Board for a maximum period of three (3) terms of four (4) years each. INEDs will have a maximum of two (2) terms of four (4) years each. While the MD / CEO will have a maximum period of ten (10) years without a specific minimum mandate. The MD / CEO of an FC will only be eligible for renewal in the same company or its subsidiaries after three (3) years after the expiration of his mandate as MD / CEO. It should be noted that for a Board member to be eligible for re-election, he or she must attend at least two-thirds of all Board meetings and of the Board Committees to which they belong each fiscal year.

Board committees

It is mandatory for the board of directors of any FC in Nigeria to establish the following board committees: risk management committee, audit committee, governance and nominations committee and credit committee of the board of directors. ‘administration. Each of these committees will have a charter approved by the CBN.

Disclosure of Board of Directors Meetings

The board of directors of any CF must disclose in the annual report the total number of board members and board committee meetings held during the year and the attendance of each member.

Remuneration policy

Each CF must establish a remuneration policy and disclose it in the annual report to shareholders.

Disclosure of shares held by directors

Each CF must disclose the number of shares held by each director and its related parties in its annual report.

Annual assessment of the board of directors

Each CF will formally assess its Board and Directors each financial year. This evaluation must be carried out by an independent consultant whose report will be presented to the shareholders at the annual general meeting. A copy of the annual board assessment should also be sent to CBN by the consultant no later than March 31 of each fiscal year.

Final remark

Although the Companies and Allied Matters Act 2020 generally requires every business, which is not a small business, to have at least two (2) directors, the Code contains specific provisions for FC. The Code further increased the size of the board of directors for each CF to a minimum of five (5) and a maximum of nine (9) directors, with at least fifty-one percent of the members of the board being of NEDs. Compliance with the requirements of the Code is mandatory for each FC, and this is strictly monitored by the CBN.

Therefore, each CF in Nigeria should regularly conduct a corporate governance audit to ensure compliance with the Code and to avoid possible regulatory sanctions. CFs should consider creating a compliance unit within the company whose functions would include, among other things, monitoring compliance with the Code and other regulatory requirements.

We are more than happy to work with the CF interested in setting up or improving their existing corporate governance system.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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Tech and Financial Firms Consider Wynwood as Miami Raises Tech Hub Status https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/ https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/#respond Mon, 23 Aug 2021 07:00:00 +0000 https://savewesternoh.org/tech-and-financial-firms-consider-wynwood-as-miami-raises-tech-hub-status/ [ad_1] Miami’s Wynwood Art District is known for its street art and as a hub for creatives, but with more tech and financial companies finding offices there, recent transactions have positioned the neighborhood as the point central to the city’s growing status as a technological hub. That’s according to DWNTWN Realty Advisors senior directors Tony […]]]>


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Miami’s Wynwood Art District is known for its street art and as a hub for creatives, but with more tech and financial companies finding offices there, recent transactions have positioned the neighborhood as the point central to the city’s growing status as a technological hub.

That’s according to DWNTWN Realty Advisors senior directors Tony Arellano and Devlin Marinoff, who have more than $ 100 million in transactions pending at Wynwood. DWNTWN Realty Advisors is a commercial real estate brokerage company in Miami. The company claims to have been involved in more than $ 350 million in development investment and sales at Wynwood in recent years.

Managing Director and Co-Founder of DWNTWN Realty Advisor Devlin Marinoff. Courtesy photo

Wynwood is “without question the hottest submarket in the country,” Marinoff said.

Due to a changing population and businesses keen to attract a better talent pool, Wynwood has emerged as the next hot submarket amid the pandemic, Marinoff said. For tech and financial companies, Wynwood’s ability to walk in relation to other neighborhoods and culture is what draws them to the area.

“It has the newest, most creative office product that some of these companies are looking to attract, and a certain type of worker appreciates it. Your neighborhood cafe, your bustling restaurant scene, the happy hour scene – it kind of hits all cylinders when it comes to ambiance and amenities, ”Arellano said.

Big companies like Live Nation, Spotify and Atomic now have offices in Wynwood. Arellano said that when Founders Fund, a venture capital firm led by PayPal founder Peter Thiel, moved its offices to Wynwood, others began to follow suit.

Tony Arellano, Managing Director and Co-Founder of DWNTWN Realty Advisor in Miami.  Courtesy photo Tony Arellano, Managing Director and Co-Founder of DWNTWN Realty Advisor in Miami. Courtesy photo.

“It sends an important message to the tech community. Wynwood, and Miami in general, are now described as the “capital of the capital” and once Founders Fund signed on, it was as if the market decided where it wanted to locate. It was the most important thing: to sell a market that had no fundamentals for companies at that level, at that time. Now that it’s been accepted we’ve now passed the test, and it’s kind of built into our fabric, ”said Arellano.

While they can’t yet announce upcoming companies, Arellano and Marinoff have said that in six to eight months, Wynwood will be a game-changer.

“The pandemic has sped up people’s thinking about where they want to live and companies have realized that they don’t have to be in financial places to run a business at a very high level. By giving their employees a better city to live in, they could get better talent and maybe even lower their occupancy costs, ”said Arellano.

Many tech and financial companies come from the Northeast and California. The number of non-market businesses is increasing by around 10%, Arellano said, but the majority of businesses coming to Wynwood are local businesses that have decided to relocate. Arellano believes the neighborhood will experience long-term growth as a result.

“Wynwood is always a neighborhood of little magnets – where a project is developed and then an entire block lights up,” Arellano said.

From law firms to retail businesses moving away from malls, Wynwood is a solid investment for businesses in all industries, Arellano and Marinoff said.

“Leasing is very solid. He hits all the cylinders. It is currently the best investment in any submarket in the country. Hands down, ”Marinoff said.

Read more:

South Florida tech scene is ‘here to stay’ as Uber joins group of companies that acquire office space

After pandemic-fueled exodus in 2020, people are returning to urban apartments

Surfside changed everything: sea level rise in the spotlight after fatal condo collapse

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New source of income for finance companies https://savewesternoh.org/new-source-of-income-for-finance-companies/ https://savewesternoh.org/new-source-of-income-for-finance-companies/#respond Wed, 04 Aug 2021 07:00:00 +0000 https://savewesternoh.org/new-source-of-income-for-finance-companies/ [ad_1] Seeed Studios SenseCAP M1 Long-Fi Access Point and Crypto Collector Investing in cryptocurrencies has become a reality for individuals and businesses in the financial sector with the release of a new cryptocurrency collection hotspot designed to earn money while providing a Wi-Fi network. Long range fi for the Internet of Things (IoT). Similar in […]]]>


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Seeed Studios SenseCAP M1 Long-Fi Access Point and Crypto Collector

Investing in cryptocurrencies has become a reality for individuals and businesses in the financial sector with the release of a new cryptocurrency collection hotspot designed to earn money while providing a Wi-Fi network. Long range fi for the Internet of Things (IoT).

Similar in appearance to a traditional Wi-Fi router, the SenseCAP M1 is placed in the office or home and collects Helium Network Tokens (HNT) to incentivize its IoT network. This is what makes Helium cryptocurrency unique as it is backed by a physical infrastructure that aims to provide a long-range Long-Fi global network that will allow home or industrial devices to be monitored and controlled over the internet. via the Internet of Things (IoT).

Covering the world with Long-fi is largely driven by the investment and the ability to earn thousands of US dollars worth of cryptocurrency per month at busy hubs, while quieter areas still earn a tidy sum that covers typically the cost of the hotspot within a few months and then allows for continued earning of HNT tokens. The coverage map can be viewed at https://explorer.helium.com/hotspots

Managing Director of Euca Technologies, the distributor of SenseCAP M1 devices in Africa, Europe and the Middle East, Ernest Campling, says that in a commercial environment, these devices are typically used in the pharmaceutical, facilities management, equipment, agricultural, food, monitoring and others. that require up-to-the-minute monitoring and control of devices such as equipment control, air quality, irrigation, cold storage, building management and vehicle monitoring, etc.

Long-fi long range capability (up to 15 km) also enables home automation of equipment such as gate motors, access control, alarm systems, air conditioning, lights, curtains and even ovens, washing machines and other devices to be controlled via a computer or cell phone. Over time, the IoT Long-fi network will become ubiquitous and will not require access to standard Wi-Fi and computer networks which can be easily hacked.

SenseCap routers are fully warranted and can be set up in an office or home in minutes almost anywhere to start collecting HNT crypto tokens and deploying Long-fi connectivity to all regions of South Africa and abroad. Zoomable global coverage maps show how Asia, Europe, the United States, and other developed countries have quickly embraced technology and covered entire regions with Long-Fi.


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