European Payments Council launches public consultation on mobile contactless SEPA Card Payments Interoperability

The European Payments Council (EPC), representing the European banking industry on payments, has released the “Mobile Contactless SEPA Card Payments Interoperability Implementation Guidelines” for public consultation. The EPC has requested industry feedback by 17 June 2011. The final version of these guidelines is expected to be published during October 2011. The EPC is committed to advancing a sustainable mobile contactless payments ecosystem through the delivery of implementation guidelines that promote an interoperable and flexible architecture.

The Guidelines offer a description of the mobile contactless payments ecosystem today and the stakeholder involved, and is aimed at providing a clear understanding of the technology available and its deployment within the market.

The EPC believes that the enhanced level of clarity offered by the document will ensure adherence to an adequate level of security measures and appropriate governance by payment service providers, and will enable the quick development and implementation of mobile solutions by:

• Promoting the use of open standards, which will avoid market fragmentation and the deployment of proprietary solutions with limited geographical reach. 
• Providing transparency to market participants by clarifying the roles of key stakeholders. 
• Stating the position and responsibilities of the EPC in relation to other industry bodies.
• Defining the adequate level of security for the whole mobile contactless payment value chain in order to establish confidence in this environment.

EPC Chair Gerard Hartsink commented: “The EPC Mobile Contactless SEPA Card Payments Interoperability Implementation Guidelines are the EPC’s next step in making SEPA mobile contactless payments a reality. The EPC invites stakeholders to participate in the consultation process and to provide feedback on these guidelines by 17 June 2011.” These guidelines are exclusive to mobile contactless payments using near field communications (NFC) technology. The EPC is also developing implementation guidelines for mobile remote payments to be released at a later stage.

TRAINING COURSE "CORPORATE GOVERNANCE"

Hong Kong - 14 & 15 July 2011

Good Corporate Governance is about helping to prevent corporate scandals, fraud, and potential civil and criminal liability in an organization. A good corporate governance image enhances the firm’s reputation and makes it much more attractive to its investors, suppliers and customers.

This course provides participants with an overview of the regulation, frameworks and principles behind good corporate governance policy and practice. The aim is to provide delegates with an understanding of core governance debates and issues, practical advice on compliance and familiarity with accepted best practice.

Main Topics Covered Include:

• Corporate Governance Standards
• Corporate Governance in Emerging Countries
• Competencies of company directors
• Corporate Governance in Banks
• The Role and responsibilities of the independent director
• Corporate Social Responsibility and independent directors
• Financial Goals and Corporate Governance
• IT Governance
• Overview of corporate governance standards from around the world: UK and Europe, US, Gulf Countries, Asia
• Case Studies include: Corporate Governance Trends in the Gulf, Arab Bank, Philippines, Singapore, China Aviation Oil and more

The course is suitable for all staff in management & supervisory positions, irrespective of their specific job responsibilities.

Our aim is to help your firm achieve and maintain ongoing compliance – enabling you to concentrate on growing your business.

For a fully descriptive brochure please send a blank e-mail to courses@citadeladvantage.com with CORPGOV-HK in the Subject line.

TRAINING COURSE “BUSINESS CONTINUITY and SCENARIO PLANNING”

Hong Kong – 18 & 19 August 2011

With the 11 March 2011 Japanese Earthquake, Tsunami & Ongoing Nuclear disaster fresh in everyone’s minds we’d like to remind you that Business Continuity plays a central role in your institution’s survival.

When we speak to banks, they say “Sure, we’ve got our Business Continuity Plan in place”. But upon probing, we discover that most of these banks really mean are that their I.T. Disaster Recovery (backup) is in place. Unfortunately they confuse the two issues. Disaster recovery is about ensuring your daily operations under normal circumstances. Business Continuity & Scenario Planning is about making sure your bank survives those man-made & natural disasters that could otherwise put you out of business.

Join us in Hong Kong on 18 & 19 August 2011 for our 2-day intensive course on Business Continuity and Scenario Planning focused on the banking/ financial institution environment with a view to providing Banking Professionals with a firm foundation of the standards of best practice in the critical area Business Continuity Planning.

For a fully descriptive brochure please send a blank e-mail to courses@citadeladvantage.com with BUSCONT-HK in the Subject line.

Who Should Attend

This course intended for Executive Management, Senior Personnel and Operational Staff whom are responsible to ensure that business continues in their respective business unit/division/branch/industry infrastructure in the event of any emergency, unexpected or extensive disruptive circumstances.

The course is intended for both Commercial & Central Bankers.

Positions that will benefit include;

• Operations Managers 
• Risk Managers 
• Internal Auditors
• Business Continuity Practitioners

TRAINING COURSE “BUSINESS CONTINUITY and SCENARIO PLANNING”

London – 27 & 28 July 2011

With the 11 March 2011 Japanese Earthquake, Tsunami & Ongoing Nuclear disaster fresh in everyone’s minds we’d like to remind you that Business Continuity plays a central role in your institution’s survival.

When we speak to banks, they say “Sure, we’ve got our Business Continuity Plan in place”. But upon probing, we discover that most of these banks really mean are that their I.T. Disaster Recovery (backup) is in place. Unfortunately they confuse the two issues. Disaster recovery is about ensuring your daily operations under normal circumstances. Business Continuity & Scenario Planning is about making sure your bank survives those man-made & natural disasters that could otherwise put you out of business.

Join us in London on 27 & 28 July 2011 for our 2-day intensive course on Business Continuity and Scenario Planning focused on the banking/ financial institution environment with a view to providing Banking Professionals with a firm foundation of the standards of best practice in the critical area Business Continuity Planning.

For a fully descriptive brochure please send a blank e-mail to courses@citadeladvantage.com with BUSCONT-LONDON in the Subject line.

Who Should Attend

This course intended for Executive Management, Senior Personnel and Operational Staff whom are responsible to ensure that business continues in their respective business unit/division/branch/industry infrastructure in the event of any emergency, unexpected or extensive disruptive circumstances.

The course is intended for both Commercial & Central Bankers.

Positions that will benefit include;

• Operations Managers 
• Risk Managers 
• Internal Auditors 
• Business Continuity Practitioners

A cost effective way for merchants to accept mobile payments

Boston-based Fig Card, which styles itself as “mobile payments for local merchants” has developed a way for merchants to accept mobile payments in stores by using a low cost USB device that plugs into the cash register or point-of-sale terminal.

To make payments, customers download an app to their iPhone, Android devices or BlackBerrys and set up a payment method.

PayPal has just acquired Fig Card for an undisclosed sum.

In which countries do workers get the most days off?

The recent spate of public holidays around the world has given rise to this videographic form the Economist. Different countries have very different standards. Which is the most (and least) slothful? How industrious were the ancient Romans?

Apps – A quick look at what is hot and what is not in the US this week

Visit msnbc.com for breaking news, world news, and news about the economy

Former Banco Santander analyst agrees to settle insider trading charges

The Securities and Exchange Commission (SEC) has announced that former Banco Santander analyst Juan Jose Fernandez Garcia of Madrid, Spain, has agreed to pay more than $625,000 to settle insider trading charges against him. The SEC accused Garcia in August 2010 of illegally trading in advance of a corporate takeover by a company that Santander advised.

The settlement with Garcia requires the approval of US District Judge Marvin J. Aspen in the Northern District of Illinois.

“This concludes our emergency action against Garcia and demonstrates that the Commission will act swiftly to prevent foreign citizens who commit fraud in the US securities markets from reaping the profits of their illegal activity,” said Daniel M. Hawke, Chief of the Enforcement Division’s Market Abuse Unit.

The SEC filed an emergency court action on Aug. 20, 2010, against Garcia and another trader in Spain and obtained an ex parte temporary restraining order and asset freeze over the funds held in Garcia’s brokerage account at Interactive Brokers LLC. The SEC alleged that Garcia just days earlier had traded on the basis of material, nonpublic information about a multi-billion dollar cash tender offer by BHP Billiton Plc to acquire Potash Corp. of Saskatchewan Inc. At the time, Garcia was the head of a research arm at Santander, a Spanish banking group advising BHP on its bid. Garcia purchased 282 call option contracts for Potash stock in the days leading up to the public announcement, and immediately sold all of his options following the announcement for illicit profits of $576,033.

Without admitting or denying the SEC’s allegations, Garcia agreed to the entry of a final judgment permanently enjoining him from future violations of Sections 10(b) and 14(e) of the Exchange Act and Exchange Act Rules 10b-5 and 14e-3, and ordering him to pay disgorgement of $576,033 and a penalty of $50,000.

The SEC’s charges against the other trader, Luis Martin Caro Sanchez, remain pending.

Do you have a downtime plan?

We all have hassles in our daily lives, like when it is just impossible to get things done due to factors outside of our control. The network connection may be down or you just cannot get to see the boss on that important decision that you need to make.

Do you waste that downtime by simply messing around, or do you have a set plan of what to do in such circumstances? We all have lots of stuff on our “to-do” lists that need to get done. Sometimes these tasks linger there for days if not weeks simply because we don’t feel like doing them. We here is your chance.