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  • Financial firms wrestle with fourth-party risk

    In manufacturing, companies are traditionally worried about every component of their supply chain, assessing each component's performance level and susceptibility to failure. As spectacular cyber breaches and technical glitches make headlines, financial firms that have outsourced portions of their infrastructures as cost-saving measures are now looking at their supply chains with that same critical eye.

Short of majority ownership, BGC extends GFI offer

BGC Partners has extended its tender offer to acquire rival interdealer broker GFI Group after its stake in the company more than doubled but fell well short of the majority needed to assume control. The offer to purchase shares of GFI for $5.25 per share in cash has been extended to end of business on Dec. 9.

Unanimous approval of Reg SCI adds rules for technology oversight

Regulation Systems Compliance and Integrity or Reg SCI, the rules devised to better insulate the market against the technical failures, received unanimous approval on Wednesday. The regulation--which mainly applies to exchanges, clearing houses and certain other market infrastructure players--mandates annual reports on efforts to safeguard systems and a policy for immediately notifying the Securities and Exchange Commission when a major technical problem is detected.

Banks outperforming retailers in mobile apps, study shows

Mobile apps have become the most common daily interaction channel for the banking industry as a whole, and 45 percent of smartphone users in the U.S. and U.K. have downloaded and been satisfied with banking apps, according to a study released today by Apigee Institute. By contrast, only 27 percent of the same pool of respondents have downloaded and been satisfied with apps from large retailers.

Fidelity experiments with virtual reality on StockCity data visualization app

Fidelity isn't the first company to launch an interactive virtual city app, but it's the first to create one in which the city is built entirely out of stocks. StockCity, developed by Fidelity's research and development think tank Fidelity Labs, is a data visualization app that recreates investors' portfolios as a 3-D city.

Hong Kong-Shanghai link starts with a flood then slows to a trickle

After a banner first day of trading Nov. 17, when the maximum 13 billion yuan in mainland equities were purchased through the Shanghai-Hong Kong Stock Connect, the rest of the week has so far fallen...
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Companies should use technology, targeted communication to better reach individual employees and get them to save appropriately for retirement, Towers Watson said.