The International Swaps and Derivatives Association has published a consultation paper on fallbacks for interbank offered rates in the event they are discontinued.
The "logical next step" after implementation of Europe's revised Markets in Financial Instruments Directive is to take advantage of technology such as artificial intelligence and automation to comply with data requirements, says Gerard Walsh, head of business development at Northern Trust Capital Markets.
The sponsor of a New York bill that would require nonfiduciary financial advisers to disclose that they aren't required to act in their clients' interests plans to reintroduce the measure, after it died without a floor vote in the New York State Assembly. Similar measures in Illinois and New Jersey have failed to come up for votes but remain under consideration.
Republican and Democratic senators said they will work to enact legislation that would give Congress a voice on whether the US imposes tariffs on national security grounds. However, House Speaker Paul Ryan, R-Wis., said Congress would do better to cooperate with the Trump administration to change policy.
Lady Gaga is working on the launch of a startup to be called Haus Beauty, sources say. Ben Jones, who previously was chief digital officer at Honest Co., reportedly will manage Haus Beauty as CEO, and Lightspeed Venture Partners is said to be an early investor.
Goodwall, a social media startup that calls itself LinkedIn for students, raised $10.8 million in a recent funding round. The money will be used for expansion.
Octi, an augmented reality startup that uses machine learning and computer vision technology to offer advanced features, has raised $7.5 million in seed funding. Investors include the OneTeam Collective, the accelerator of the NFL Players Association.
Spring Health, a startup that provides online advice and assistance related to mental health, raised $6 million in its most recent funding round. The company uses artificial intelligence to analyze patient data and recommend treatment plans.
Movile, a Brazilian mobile commerce platform, raised $124 million in its most recent funding round, which was led by Naspers, a longtime backer of the company. CEO Fabricio Bloisi wouldn't discuss valuation but indicated that Movile expects to launch an initial public offering eventually.
Paidy, a Japanese startup that gives shoppers a way to make online purchases without using a credit card, raised $55 million in its most recent funding round. Japanese conglomerate Itochu led the round.