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Pat McConnell

Honorary Fellow, Macquarie University Applied Finance Centre, Macquarie University

After over 30 years working for, and consulting to, major banking and insurance companies in the US, Europe and Australia, Pat transferred to teaching courses in Risk Management at Masters level and to industry. His main areas of research are in Operational Risk (People, Systems, Process and Legal risks) and banking regulation and he has published widely on this topic, including a new book on People Risk Management http://www.koganpage.com/product/people-risk-management-9780749471354 .

Bank codes of conduct: add bars to the window dressing and make them legally binding

Oct 26, 2018 07:31 am UTC| Insights & Views Law

Banks dont need 10 commandments to do the right thing, but just six, says the head of the banking royal commission. The first of those commandments set out by Commissioner Kenneth Hayne is to obey the law. The other...

It's time for a royal commission into banking regulation

Nov 08, 2017 15:26 pm UTC| Insights & Views Law

The handling of recent financial scandals show that regulators are confused about what they do, or should do. And as a result the regulation of the financial system, which is vital to a strong functioning economy, is just...

Blockchain Revolution Series

Common Bank of Australia's test of government bond using the blockchain, is just that

Jan 30, 2017 09:40 am UTC| Fintech

Despite a media statement announcing that Commonwealth Bank of Australia (CBA) and Queensland Treasury Corporation (QTC) have created the first government bond using the blockchain (dubbed the cryptobond), no QTC bond had...

Blockchain Revolution Series

Smart contracts – smart or dumb?

Jan 23, 2017 06:36 am UTC| Technology Fintech

Consider, for a moment, these two statements from the Ultimate Guide to Understanding Blockchain Smart Contracts on a well known Blockchain website: 1) Traditional Contracts Traditional physical contracts, such as...

Blockchain Revolution Series

What next for the ASX and Blockchain in 2017?

Jan 18, 2017 02:56 am UTC| Fintech Digital Currency

What a difference a year makes. In January 2016, ASX was bathing in the warm glow of having been acclaimed by Blythe Masters, an American super saleswoman and head of a Blockchain start-up called Digital Asset The...

ASIC gives the banks cause for Christmas celebration

Dec 22, 2016 03:50 am UTC| Law Economy

Christmas is a time to forgive and forget and the Australian Securities and Investments Commission (ASIC) sure knows how to distribute good cheer at Yuletide, especially to old friends such as the big four banks. On...

Blockchain Revolution Series

Blockchain – not fit for financial markets

Dec 21, 2016 10:26 am UTC| Fintech

For a discipline that is supposedly rational, finance has had its fair share of irrational crazes. For example, the dotcom bubble and the collateralized debt obligation craze that led to the global financial crisis. The...

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Economy

South Korea Warns Weak Won Could Push Inflation Higher in 2025

South Koreas central bank has warned that inflation next year could exceed earlier projections if the Korean won remains weak against the U.S. dollar, raising concerns about price stability and currency market pressures....

Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism

Chinese robotaxi stocks surged in Hong Kong trading on Wednesday, tracking strong overnight gains in Tesla Inc (NASDAQ: TSLA) as investor optimism around autonomous driving and ride-hailing technology continued to build....

Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes

Most Asian currencies edged lower on Wednesday as investors weighed the U.S. Federal Reserves future interest rate path following mixed signals from the latest U.S. labor market data. At the same time, the Indian rupee...

Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty

Gold prices climbed during Asian trading on Wednesday, while silver prices surged to a fresh all-time high, as growing concerns over the U.S. economy fueled strong demand for safe haven assets. Investors increasingly...

Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices

U.S. President Donald Trump has ordered a total and complete blockade of all sanctioned oil tankers entering and leaving Venezuela, dramatically escalating Washingtons pressure on President Nicolas Maduros government and...

Politics

NSW to Recall Parliament for Urgent Gun and Protest Law Reforms After Bondi Beach Shooting

The Australian state of New South Wales will recall parliament next week to pass sweeping reforms to gun ownership and protest laws following the countrys deadliest mass shooting in more than 30 years. The move comes just...

Pakistan’s Army Chief Faces Gaza Troop Dilemma Amid US Pressure

Pakistans most powerful military leader in decades, Field Marshal Asim Munir, is facing a critical test of his expanded authority as the United States presses Islamabad to contribute troops to a proposed Gaza stabilisation...

Trump Taps Former DHS Official Troy Edgar for U.S. Ambassador Role in El Salvador

President Donald Trump announced on Tuesday that he intends to nominate Troy Edgar as the next United States ambassador to El Salvador, highlighting the administrations continued focus on strengthening diplomatic and...

Lukashenko Urges Swift Ukraine Peace Deal, Backs Trump’s Push for Rapid Resolution

Belarusian President Alexander Lukashenko has called for urgent action to end the war in Ukraine, voicing support for U.S. President Donald Trumps push for a rapid resolution while Washington continues diplomatic efforts...

Trump Administration Moves to Keep TransAlta Coal Plant Running Amid Rising AI Power Demand

The U.S. Energy Secretary has signed an emergency order to keep a key coal-fired power unit at the TransAlta-owned Centralia Generating Station in Washington state operating through much of the winter, marking the latest...

Science

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Trump and Merck KGaA Partner to Slash IVF Drug Costs and Expand Fertility Coverage

U.S. President Donald Trump and German pharmaceutical company Merck KGaA have announced a groundbreaking deal aimed at lowering the cost of in-vitro fertilization (IVF) treatments while boosting access to fertility care in...

Technology

noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking.

A European privacy advocacy group has filed fresh complaints against TikTok, Grindr, and AppsFlyer, accusing the companies of violating European Union privacy laws by unlawfully tracking and sharing sensitive user data...

MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy

Shares of Chinese AI chipmaker MetaX Integrated Circuits delivered a stunning market debut, soaring more than 600% above their initial public offering price as domestic investors poured into local semiconductor stocks. The...

Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates

Apple Inc. (NASDAQ: AAPL) is reportedly in early-stage discussions with Indian semiconductor companies to explore the assembly and packaging of iPhone components in India, marking a potential shift in the companys global...

Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation

Amazon.com Inc is reportedly in discussions to make a major investment in OpenAI, the creator of ChatGPT, in a potential deal that could value the artificial intelligence company at more than $500 billion, according to a...

SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market

SUPERFORTUNE, a web3 AI application incubated by Manta Network, has launched its first mobile application, expanding beyond crypto-native users into the global consumer market. The SUPERFORTUNE mobile app delivers...