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Anonymous to attack 'every major banking system'; Treasury requires banks to identify shell company owners

Banking Essentials Newsletter - November Edition

Online Brokerage Space Should Remain Rich Source Of M&A

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

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Anonymous to attack 'every major banking system'; Treasury requires banks to identify shell company owners

Hackergroup Anonymous released a videoand a pastebin post claiming it willattack PayPal HoldingsInc., MasterCardInc., VisaInc., NasdaqInc., the London Stock Exchange and central banks, among otherfinancial institutions. American Bankerreports the hacks are expected to occur over the next30 days.

TheDepartment of Finance Canada is seeking comments on arevised consultation draft of the Capital Markets Stability Act, whichaddresses national data collection, systemic risk related to capital marketsand criminal enforcement.

A monthafter the Panama Papers leak, the U.S. Treasury Department adopted a rulerequiring banks to learn the identities of the owners of shell companies. The FinancialTimes and Reutersreport on the development. In addition, the U.S. Department of Justice is proposinglegislation to enhance the authority of law enforcement when obtaining overseasbank records.

Inother banking news, BofA MerrillLynch is nolonger included in the roster of banks to lead Ontario's Canadian dollarbond sales this year, but can keep a junior role in the offerings, BloombergNews reports.

TheHong Kong stock exchange rejected Shenhua Health Holdings' IPO application — anoffering for which JPMorgan Securities (Far East) Ltd. was a sponsor, the Financial Times reports.

thisweek further reduced its sales and trading division staff by 100people, sources told The Wall StreetJournal.

Inmore people news, R. Scott Blackleywas named CFO ofCapital One FinancialCorp., effective May 9, as former CFO Stephen Crawford becomes headof finance and corporate development.

JohnEulich succeededJames Murphy Jr. as nonexecutive chairman of Clayton, Mo.-based .

JeffreyHilzinger was named CEO of Mount Laurel, N.J.-based ,effective June 1, succeeding interim CEO Edward Siciliano, who will keep hisexecutive vice president and chief sales officer posts.

EvanWallach was named chairman of AeroCentury Corp., a Burlingame, Calif.-based equipment lender.

ASan Antonio-based credit union,Security Service Federal CreditUnion, has formed subsidiary Security Service Insurance.

obtained the New YorkState Department of Financial Services' approval to offerthe trading of emerging cryptocurrency Ether on the virtual currency exchangethe fintech firm operates in NewYork.

Inthe asset management sphere, S&PGlobal Ratings revised its outlook on BlackRock Capital Investment Corp. to from stable, to reflectportfolio deterioration over the last two quarters.

AndDonald Trump named Steven Mnuchin his nationalfinance chairman, Bloomberg News reports. Mnuchin, formerly a GoldmanSachs partner, is thechairman and CEO of Dune CapitalManagement LP.

In other parts of the world

AU.S. grand jury is said to be reviewingevidence against Rabobank — now known as Cooperative Rabobank U.A. — andits current and former officials over alleged lapses that purportedly allowed aMexican drug cartel to launder money, Bloomberg News reports. U.S. prosecutorshave already spent three years investigating whether Rabobank's U.S. retailbanking unit, RabobankNA, ignored signs that the cartel transferred money through thebank. De Telegraaf adds that U.S.authorities are assessing the possibility of pressing charges againstindividuals.

TheChina Banking Regulatory Commission banned banks from using funds from theirown wealth management products to buy credit beneficiary rights, in its latesteffort to crack down on shadowbanking.

The day ahead

Early morning futures indicators pointed to a lower openingfor the U.S. market. In Asia, the Hang Seng fell 1.66% to 20,109.87, while theNikkei 225 was down 0.25% to 16,106.72. In Europe, as of midday, the FTSE 100was down 0.88% to 6,063.17, and the Euronext 100 had fallen 1.04% to 843.86.

On the macro front

The employment situation report, the consumer credit reportand the Treasury STRIPS report are due out today.

The Daily Dose is updated asof 7:30 a.m. ET. Some external links may require a subscription.