New York Chief Regulator cuts Bitcoin startups some slack

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Unveiling a series of proposed new virtual currency regulations for New York state—which will likely be copied by other states and potentially federal regulators as well—Benjamin M. Lawsky, the superintendent of the New York State Department Of Financial Services, said that virtual currency startups need room to experiment and new proposals will grant them that slack.The proposal envisions “additional flexibility for virtual currency startups to innovate, while at the same time maintaining our commitment to protecting consumers and rooting out illicit activity,” Lawsky told attendees at the Bipartisan Policy Center on Regulating Virtual Currencies and Payments Technology in Washington, D.C., on Thursday (Dec. 18). “The revised regulation will offer a two-year transitional BitLicense, which may be issued to those firms who are unable to satisfy all of the requirements of a full license, and will be tailored to startups and small businesses. That transitional BitLicense will help provide start-ups an on-ramp as they build up their operations.”Among other key changes that Lawsky outlined:Developers Free To Code Away. “The revised regulation will clarify that we do not intend to regulate software development. For example, a software developer who creates and provides wallet software to customers for personal use will not need a license. We are regulating financial intermediaries. We are not regulating software development.”Rewards Won’t Be Punished. “Customer loyalty programs, rewards, and gift cards denominated in fiat currency will not fall under the BitLicense. Some commenters believed that the regulation could be read to encompass those activities, but it does not.” continue reading »last_img read more

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Credit unions beat banks in all fee categories

first_img 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Two surveys revealed stark differences between the fees charged by credit unions and those charged by banks. The comparison showed credit unions gave banks a run for their money.A MoneyRates.com survey of banks showed an average yearly checking account maintenance fee of $159 per year for the average American. However, a Bankrate.com survey showed a range of $1 to $10 per month for maintenance fees at credit unions (with $2 per month being the most common), for an average of $24 per year up to a premium of $120. continue reading »last_img

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5 areas that could plague your team

first_img 32SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Pettit John Pettit is the Managing Editor for CUInsight.com. John manages the content on the site, including current news, editorial, press releases, jobs and events. He keeps the credit union … Web: www.cuinsight.com Details When a team works well together, the results can be magnificent. When your team isn’t running well, the results won’t be ideal. Here are 5 areas that could plague your team.  Be on the lookout for these, and if you see an issue arise, nip it in the bud.Decision making: When your team has to make decisions together, disagreements are inevitable. Make sure everyone gets to voice their opinion. They won’t always get their way, and they need to understand that the majority rules and they have to deal with it.Communication: When communication lines are broken, all kinds of problems are likely to occur. Lead by example, encourage open communication, and help your team understand that everyone has different preferences when it comes to how they communicate in the office.Participation: In order for your team to be effective, they need to pull their own weight. Sometimes, participation issues stem from a bad egg. Other times, employees are left out of the loop. When your team leaders are delegating properly, everyone will be involved and be given the right task, according to their skills sets. When this is done right, participation won’t be an issue.Trust: Trust is absolutely vital. Give your teams repeated opportunities to bond outside the office. This familiarity will lead to engagement and trust. By helping your team mesh, you’ll help them be successful.Vision: Your team should be striving to attain a common goal. Make sure they know where you want to go, and why. When the pathway is clear and individual purposes are laid out, your team will find it easier to travel in the same direction.last_img read more

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8 unconventional ways to master your credit union’s tech

first_imgThe decision to invest in new credit union technology is not made lightly. There are many factors involved, not the least to be considered are cost, compatibility, and anticipated gains from tech provided efficiencies. Take for example the Efficiency Ratio often referenced as a measure of credit union success… Technology plays a huge role in driving that number. But what good is it to invest in technology if your employees can’t use it to its fullest potential? What can you do to ensure your investment is optimized? Sitting through vendor presentations and reviewing slides only goes so far. There’s a certain amount understanding and knowledge that can really only be gained from practical, hands-on use. Once your employees reach a comfort level with the basics of your credit union core processing software, what else can be done to encourage them to dig deeper and to further maximize your tech investment? Here are some ideas to help build on that knowledge and get them thinking out of the box… or at least out of the classroom.Join User Groups – User groups are a great tool and often overlooked as a source of information. Just about everyone has Googled the occasional IT question and found answers in a forum. Joining a user group for your specific technology platform not only provides another resource for troubleshooting answers but can make you aware of potential problems, provide workarounds or solutions, learn about best practices and also provide a network of contacts in your area. 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

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Restaurants Noel and 360 ° are the first Croatian restaurants in an exclusive Michelin guide

first_imgRestaurant 360 ° / Facebook: Restaurant 360 Dubrovnik A month ago we wrote about new Croatian members of the prestigious Michelin gastronomic club. Namely, these are the restaurants Noel from Zagreb and Drago di Lovran from Lovran, which deservedly received Michelin stars. They joined the older members of the Michelin elite, restaurants Pelegrini from Šibenik, 360 ° from Dubrovnik and Monte from Rovinj. Restaurant Noel / Facebook: NOEL RELATED NEWS: In addition to Michelin stars, eight of our restaurants are on the list with the Bib Gourmand label, which is twice as many as last year, and this year the Michelin Plate label is worn by a total of 51 restaurants. This is the result of a secret tour of Croatian restaurants by Michelin inspectors. The Michelin guide contains ratings of carefully selected restaurants from as many as 38 European cities, including Prague, Copenhagen, Vienna, Brussels, Helsinki, Athens, Stockholm, Dublin, Oslo, Budapest, but also many other cities that have Michelin-starred restaurants.center_img Last week, a new print edition of Michelin’s guide called “Main Cities of Europe” was released, featuring Noel and 360 ° restaurants for the first time. This is a great recognition because it puts Croatia alongside the strongest gastronomic destinations in Europe. The extremely important success of our restaurants contributes to putting Croatian cities on the map of the best gastronomic destinations, which further strengthens the already quite strong gastrotourism in Croatia. The Bib Gourmand label, along with the previous holders Konoba Mate from Korčula, Dunav from Ilok, Vuglec Breg from Krapina and Konoba Fetivi from Split, is also awarded to Batelina from Banjol, Konoba Vinko from Konjevrat and Agava and TAČ from Zagreb. Bib Gourmand is awarded to restaurants that offer quality meals at affordable prices. CROATIA HAS FIVE MICHELIN STARS RESTAURANTS AS OF TODAY!last_img read more

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London prepares for flood of private flats

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Spain govt seeks 2-week extension of lockdown

first_imgSpain’s government on Tuesday said it would seek parliament’s approval to extend the state of emergency by another fortnight, until June 7, even as the number of new coronavirus cases keeps falling. The current state of emergency is set to expire on May 23 and Prime Minister Pedro Sanchez had initially said he would seek an extension of around a month.But the government reduced the request to two weeks to secure the support of the center-right Ciudadanos party, thereby guaranteeing it would pass during Wednesday’s vote in the 350-seat chamber where Sanchez’s coalition is in a minority.  Topics : The government says the decree has allowed it to battle the epidemic and bring down the daily number of new cases, which on Tuesday stood at 295, health ministry figures showed.Over the same period, 83 people died from the virus, in what was the third straight day the figure had been under 100. Fernando Simon, the health ministry’s emergencies coordinator, said the medical authorities had managed to reduce the time between initial consultation and diagnosis of infection “to under 48 hours”. This, he said, meant that “if the cases of the epidemic flared up again, we would be capable of locating [them] quickly”. Spain has suffered one of the most deadly outbreaks of the virus, suffering more than 27,700 deaths out of more than 232,000 cases. But the government’s management of the crisis has come under fire in recent days with street protests in Madrid and other cities, where demonstrators banged pots and demanded Sanchez’s resignation amid cries of “freedom”. “[These protests] are demanding freedom of movement and what that means at this point in time… is the freedom for the infection to spread and freedom to impact the health of other people,” spokeswoman Montero said. Figures from a survey by the state-run Centre for Sociological Studies (CIS) published on Tuesday showed 95 percent of Spaniards support the lockdown and 60 percent believe it should be extended, despite the protests. center_img “If there is no state of emergency, we won’t have the capacity to restrict movement and the ongoing sacrifice that everyone has made will have served for nothing,” government spokeswoman Maria Jesus Montero said.The lockdown was first imposed on March 14 and it has since been renewed four times, despite growing criticism of Sanchez over his management of the crisis, notably from his rightwing opponents who did not support the last extension two weeks ago. The government has also not ruled out a further extension, having shown itself in favor of continuing until the rollback of the lockdown restrictions is completed at the end of June. “Limiting mobility, which is a fundamental right, can only be achieved like this,” said Health Minister Salvador Illa.last_img read more

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Mikel Arteta tells Arsenal to trigger extra year in David Luiz’s contract

first_imgAdvertisement Metro Sport ReporterThursday 19 Mar 2020 11:37 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link7.5kShares Mikel Arteta tells Arsenal to trigger extra year in David Luiz’s contract Luiz is a popular figure in the Arsenal squad (Picture: Getty)Arsenal will trigger a one-year extension in David Luiz’s contract after he emerged as a key figure in Mikel Arteta’s squad, reports say.The Brazilian defender arrived from Chelsea last summer in what was a shock move that got off to a rocky start.Like many of his team-mates, Luiz faced criticism for his performances at Arsenal but the centre-back has improved since Arteta took charge.Read the latest updates: Coronavirus news liveADVERTISEMENTThe Sun claim Arteta has been impressed by Luiz and has sanctioned the decision to extend his stay at the Emirates.Luiz joined Arsenal on a short-term deal and turns 33 next month, and opened up on how difficult it was to leave Chelsea behind.AdvertisementAdvertisement‘I can be honest with you, the first three days or week was not easy to understand all the emotions or how I was feeling, because everybody knows my history with Chelsea,’ Luiz told OTRO. ‘I had this connection with everyone at the club. It was so massive and big and I was missing every single one. Arteta has been impressed with Luiz (Picture: Getty)‘Every text message I was receiving, people were saying: “Come back, come back, come back, come back, we are here for you”.‘I give you the example of a gentleman there who is 75 years old. He was taking breakfast with me at the time when he had the opportunity. ‘He was texting me: “I am still waiting for you here to take the breakfast again”. ‘This kind of thing was so difficult for me, because I am someone that sees the heart as the most important thing. More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘But then after that, in the professional way, I was saying: “It is a new moment for you. It is another big thing for you to do. Maybe if you stay in the comfort zone it is not going to be the best thing for you?”‘If you look at my history of life I was never wishing to stay in the comfort zone. ‘It was a top decision. [Arsenal] are a big club. I want to make this club improve and to shine again. The first days were difficult but after that I started to adapt. ‘Now I am so happy and I want to do big, big things with Arsenal.’center_img Euro 2020 postponed over coronavirusTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 1:05FullscreenEuro 2020 postponed over coronavirushttps://metro.co.uk/video/euro-2020-postponed-coronavirus-2132178/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.MORE: Willian sends message to Chelsea manager Frank Lampard amid Arsenal and Tottenham transfer linksMORE: David Luiz reveals Chelsea staff begged him to return after leaving for ArsenalFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Comment Advertisementlast_img read more

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Tromsø goes it alone with launch of NOK2.5bn pension fund

first_imgTromsø regional council in the north of Norway has set up its own local authority pension fund for staff, completing a move sparked by pensions provider DNB’s decision to withdraw from the public sector pensions market.Both administration and asset management have been outsourced to financial services group Storebrand.With 5,000 members and assets under management of NOK2.5bn (€304m), the council said the new Tromsø Municipal Pension Fund, officially established on 1 October, would become one of the biggest independent local authority pension funds in the country.Around 20 local authorities in Norway currently have their own pension funds. Anne Berit Figenschau­, Tromsø councillor for finance, said: “We are establishing our own pension fund because it is economically advantageous for Tromsø Council.”The cost of administration will fall, she said, and with an active personnel policy and focused HSE (heath, safety and environment) work, the local authority will be able to reduce the annual pension contributions.Another advantage of going it alone is that the pension fund board will have a greater influence over the way fund assets are managed, the council said.It said it began working on setting up its own pension fund four years ago.Tromsø had been a customer of DNB Livsforsikring since 1947, but the life insurer is now no longer providing this service.As a result, the council said it then had a choice between doing it itself or finding a new provider.Trond Eliassen, project manager, said there would be no consequences for the staff pension, since it followed tariffs and statutory rights.“There are strict rules for the management of pension funds,” he said.The new Tromsø Municipal Pension Fund will cover all council employees, pensioners and former employees who are members of the main pension scheme. The exceptions are teachers and educators affiliated with the state pension fund, as well as doctors and nurses belonging to KLP’s pension scheme.Administration of the scheme has been outsourced to Storebrand Pension Services, and investment management to Storebrand Asset Management.A seven-person board has been appointed, Tromsø said, but a general manager for the pension fund has yet to be hired.It said Peter Lunde of Storebrand Pension Services would fulfil this role in the meantime.DNB Livsforsiking has said it decided to leave the public service pensions business because of ever-tighter requirements and regulations, as well as intense competition in the market.Storebrand is also leaving direct provision of public service pensions due to the high level of investment in systems and processes that would have been required to continue with the work.Kommunal Landspensjonskasse (KLP), the second-largest provider of public service pensions in Norway after Statens Pensjonskasse (SPK), is taking on much of the business left by DNB and Storebrand.It has said it is taking in 150,000 new members as a result of the corporate exits by the end of 2014.last_img read more

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Pensions trade body plots gender and age diversity push

first_imgLesley Williams, chair of the PLSA, told IPE: “Diversity applies to both investment and people. We’re looking to encourage diversity on trustee boards as well as pension executive boards.”Of the PLSA’s “monograph” book, Williams said: “There will be stories to make you smile, and there will be some that prompt some soul-searching. There will be views and experiences from key figures in the industry.”The title of the book is yet to be confirmed, but it is expected to launch in early March.Also in March, the PLSA will host its annual investment conference in Edinburgh where the theme will be “diverse investments, diverse perspectives”. Williams will chair a session on the topic of diversity during the three-day event, and she said the PLSA had encouraged speakers and sponsors to consider the theme when planning their activities and material.A guide for trustees on diversity is also in the pipeline, Williams said.“A lot of work has been done on the issue but no one has ever applied it specifically to trustee boards,” she said. “Just looking at gender, governance boards are on average 83% male.”The PLSA’s work will not just focus on gender balance, but also the age range of trustee boards.Williams said: “Being on a trustee board can be a development opportunity. A younger perspective can be really useful.”“If you have an election process [for new trustees], perhaps you need to look carefully at that, and how you bring people in,” she added. “You do have to go looking for people. You need to invest time.” The UK’s pension fund trade body is to publish a collection of essays next month as the first stage of a wider effort to improve diversity in the industry.The Pensions and Lifetime Savings Association (PLSA) also plans to publish a guide for pension funds and host a “women in leadership” course in the coming months.Separate research published today by Aon Hewitt and Leeds University Business School showed that the average age of trustees was 54, and the majority are aged between 50 and 70 years old. Of 197 trustees surveyed, 81% were male.The research showed the sample group to be “highly educated and financially literate”, Aon Hewitt said.last_img read more

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