China’s team didn’t qualify for World Cup finals, but a Chinese fintech firm did recently win a championship of sorts … Jack Ma’s Ant Financial reaching the highest valuation for any tech or financial firm in the world.
Several rules of the game have changed recently for financial firms. The Fiduciary Rule’s reversal in March may soon come into play, affecting retirement investors.
In other deregulation news, the Dodd-Frank Act stress tests are no longer required for large banks. Will banks’ internal risk teams step up to defend us from another financial crisis?