Cybercriminals impersonate SEC to get inside information

UK, US bank execs said to discuss closer ties post-Brexit | Reduced return on hedge funds predicted this year | Banks expect fewer lending inquiries under Trump Created for {EMAIL} | [Web Version]( March 15, 2017 [SIGN UP]( ⋅ [FORWARD]( [] Risk Management and Insurance [] [UK, US bank execs said to discuss closer ties post-Brexit]( Banking lobby group TheCityUK has set up a committee, which includes senior managers of Barclays and JPMorgan Chase, to discuss ways of developing closer trade relations between the UK and US after Britain leaves the EU, sources said. The talks are still at an early stage. [Bloomberg]( (3/12) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] [Reduced return on hedge funds predicted this year]( Investors have revised downward their expectations of hedge fund returns in 2017, but they are overall optimistic that hedge funds can outstrip major market indexes, a Deutsche Bank survey finds. Respondents from endowments and foundations report a target of 7.92%, while pension funds cite a 5.78% target. [Pensions & Investments (free access for SmartBrief readers)]( (3/8) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] - [Banks expect fewer lending inquiries under Trump]( The New York Times (free-article access for SmartBrief readers) (3/7) [] Cybersecurity [] [Cybercriminals impersonate SEC to get inside information]( In an effort to gain access to inside information, cybercriminals are posing as Securities and Exchange Commission officials in emails to corporate executives, lawyers, compliance officers and others who have roles in submitting documents to the SEC. FireEye, the security firm that spotted the practice, said the online scammers are probably part of an Eastern European criminal organization that profits by basing trading on inside information. [Fortune]( (3/7) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] - [Report: FDIC accounted for most federal cybersecurity breaches]( Federal Computer Week (3/10) [] Government Regulation [] [DOJ signals support of CFPB dismantlement]( Justice Department signals potential dismantling of CFPB Cordray (Alex Wong/Getty Images) Mortgage company PHH has challenged the constitutionality of the Consumer Financial Protection Bureau, setting the stage for potential dismantlement of the agency. PHH's filing indicates that CFPB Director Richard Cordray's removal by President Donald Trump would not sufficiently resolve the case and that "the appropriate remedy is to strike down the CFPB in its entirety," an action the Justice Department has indicated it will support when it files a friend-of-the-court brief. [Bloomberg BNA (free content)]( (3/13), [HousingWire]( (3/13), [The Wall Street Journal (tiered subscription model)]( (3/13) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] [Trump promises relief for community banks]( Trump promises relief for community banks Trump (Pool/Getty Images) President Donald Trump has vowed to executives of community banks to ease the regulatory burden created under post-crisis action. The White House reportedly is close to nominating someone for a Federal Reserve seat designated for a community banker, a position that has sat empty for more than two years. [Morning Consult]( (3/9), [The Washington Post (tiered subscription model)]( (3/9) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] Innovation [] [BofA tests virtual center with ATM, video chat]( Bank of America is testing an automated option to keep up with a trend toward digital. The virtual center features an ATM and at least one video-conference room for customers to chat with loan officers or other specialists. [AmericanBanker.com (free content)]( (3/10) [LinkedIn]( [Twitter]( [Facebook]( [Google+]( [Email]( [] - [Fintech supports banks' small-business clients]( AmericanBanker.com (free content) (3/13) [] - [Bitcoin ETF fails to win SEC approval]( Bloomberg (3/10) [] News from Aon [] [Infographic: How to address the rising cost of health care]( Globally, health care costs are rising for individuals and employers. Because of a combination of aging populations, declining health, poor lifestyle choices, cost-shifting from social programs and increased utilization of employer-sponsored health insurance plans, health care costs are rising worldwide at a rate far higher than the average rate of inflation. [View the infographic](. 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