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You know all that fuss in India about withdrawing bank-notes in a so-called but misnamed "demonetisation" scheme? Well, they were high value notes. What would happen if a country decided to withdraw a low-value coin and replace it? We will all find out in the UK in just a few weeks.

BIScom Subsection: 

I hate buzzwords. I hate management-speak. And I really, really hate trends that appear to be one thing when really they are another. And more than all of those combined, I hate marketing-hype bubbles where everyone talks in breathless terms about the means instead of the ends or, even, the process.

So it follows, even though I've been fascinated by technology for decades, I'm irritated by the growth of so-called "fintech."

And I'm watching all the signs of a bubble.

In her special brand of contorted English, California's District Attorney Kamala Harris, says that a website is "an online brothel" and she's determined to jail its operators. Amongst the allegations is money laundering, at least in part based on the fact that the website's owners set up other companies to front their sales so that banks, etc. would allow them to take credit card payments. But Harris is off-target. She should be looking at cloud services providers. Cloudflare is in her back-yard. That would be a good place to start.

BIScom Subsection: 

The USA's Financial Industry Regulatory Authority (FINRA) has agreed with Deutsche Bank Securities Inc. that the bank will pay USD3.25 million. FINRA found that the company failed to make the same information available to all of the clients of its "Alternative Trading System," and other breaches of regulations.

The DFSA Rulebook and Code of Market Conduct were subject to consultation and, following that, the DFSA Board has concluded the production of revisions to both documents.

The DFSA Board has passed a series of instruments (listed below) to give effect to the new versions. DSFA reminds users that, as a result of the consultation, there may be differences between the final version as published and the original drafts.

BIScom Subsection: 

More than 15,000 customers of BMW Financial Services, Mini Financial Services and Alphera Financial Services are to be compensated for serious failures in the group's business practices, which caused genuine hardship in some cases, says the Australian regulator, ASIC. The scale of the Order is jaw dropping.

BIScom Subsection: 

I've just caught up with the third episode of the genuinely excellent "Mars" on the National Geographic TV Channel.

The programme contains significant input from genuine rocket scientists and people who have studied as much as is currently possible about Mars, how to get there and how to deal with what they find.. But, seemingly, they forgot to ask someone with common sense to join the team.

BIScom Subsection: 

The Australian Securities and Investments Commission has permanently banned the owner and sole director of an insurance brokerage from the financial services industry. Christopher John Griggs of Chris Griggs Insurance Offices Pty Ltd, Mount Pleasant, South Australia, forged documents and applied for credit using the names of third parties without their knowledge.

BIScom Subsection: 

The Australian Securities and Investments Commission (ASIC), which federally regulates a wide range of businesses, has cancelled the credit licence of S & S Enterprises Pty Ltd, trading as appliance rental business Rent To Own Appliances.

BIScom Subsection: 

One always has to adopt a basic position of scepticism when someone appears to think they are being clever by using a popular phrase: an example is Dame Nemat Talaat Shafik, who likes to be known as "Minouche,", the Deputy Governor, Markets and Banking, of the Bank of England and a Member of the Bank of England Monetary Policy Committee. Her paper "Think Global, Act Local" is the start of her swansong : she is to leave the BoE in February 2017 to become Director, London School of Economics.