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Modern Money SmartPod

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From the team that produces Modern Money SmartBrief -- and more than 40 other newsletters for some of the most influential organizations in Finance -- it's the Modern Money SmartPod. The term "Modern Money" means different things to different people, so co-hosts Colin Hogan and Sean McMahon will be bringing you news and interviews from every corner of the financial services world. From securities, futures and options, to venture capital, asset management and consumer banking, there is a lot of ground to cover. This podcast will feature insights from key policymakers and C-suite executives from leading financial services firms. We’ll also hear from experts about how the way money moves is evolving rapidly -- on Wall Street AND Main Street. If you're looking for a fun and informative podcast that focuses specifically on the people, technologies and trends that are driving the future of financial services … this is it!
25 Episodes
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The rise of ESG investing has investors clamoring for accurate and transparent data. Larry Lawrence, Head of Sustainable Finance - US at IntercontinentalExchange (ICE), outlines the crucial role data plays in the ecosystem of sustainable finance.  Public companies have ginormous reporting obligations, so Larry and the team at ICE help organizations sort through seemingly endless reams of data to satisfy stakeholder expectations and regulatory expectations associated with ESG investing.So when you hear a company announce a bold net-zero commitment, chances are that company is relying on someone like Larry to help navigate the maze of data needed to report progress on those goals. But ICE doesn’t just serve the needs of big companies with household names. When a small company – or maybe even one of the many oh-so-hot ClimateTech startups – is considering going public, Larry helps guide those businesses through the complexity of that process. With more than two decades of experience working in sustainable finance, Larry has seen trends come and go. The insights he shares on topics ranging from carbon markets and greenwashing to Know Your Data principles and the individual intricacies of the "E" the "S" and the "G" in ESG are definitely worth a listen.More resourcesUsing climate data to understand the greenhouse gas emissions reporting landscapeMFS Investment Management Do more than survive. See how we strive to make the most of changing bond markets.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
If you're a business leader looking to offset the emissions from your organization's operations, how exactly do you go about doing that? And in a world where accusations of greenwashing abound, how do you offset your emissions in a transparent and responsible way? Blake Lawrence from Cool Effect joins the show to answer those questions and more. The team at Cool Effect works to use science, expertise and transparency to give organization's the confidence to purchase carbon offsets that will deliver positive results for the world around us. There are all kinds of carbon offsets -- and some of the offsets Blake describes are probably NOT what you think of when you think of carbon offsets.Blake also walks through a primer Cool Effect put together that outlines five questions every person should ask before buying carbon offsets. More resourcesCool Effect ModelSeller's PledgeOffsetting TravelBusiness Offset CalculatorMFS Investment Management Do more than survive. See how we strive to make the most of changing bond markets.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
Some regulators in the world of finance take office during periods of relative market calm. Other regulators ... not so much.When Commissioner Summer Mersinger was sworn in at the Commodity Futures Trading Commission in March of 2022, global markets were still dealing with the shock from Russia's invasion of Ukraine. Throughout the summer, commodities markets felt the impact from geopolitical tensions, an energy crisis and other pressures. And as summer faded into fall, the energy crisis continued and headlines about a crypto winter morphed into headlines about crypto perp walks.Through it all, Commissioner Mersinger has kept her eye on the markets and brought unique insights to the CFTC and the wider regulatory ecosystem. This episode covers a lot of ground as Commissioner Mersinger offers her perspective on topics ranging from crypto and geopolitics to agriculture commodities and renewables. She even draws entertaining (and accurate) parallels between youth soccer tactics and the task of regulating some of the wildest corners of today's financial markets. Enjoy the show!MFS Investment Management Do more than survive. See how we strive to make the most of changing bond markets.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
With the fallout from the meltdown of Sam Bankman-Fried and his FTX empire still unfolding in the markets, exchange leaders and other executives from the cleared derivatives industry gathered in Chicago for the annual FIA Futures & Options Expo.FIA President and CEO Walt Lukken joined the show to talk about what the collapse of FTX might mean for the future of regulation in the digital asset sector. Lukken touted the soundness of properly regulated entities (like FTX's own LedgerX) and marked the 50th anniversary of the launch of financial futures by commenting on how he thinks the industry will continue to evolve.MFS Investment Management Do more than survive. See how we strive to make the most of changing bond markets.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
In 2021, there was roughly $785 billion deployed at the global level for energy transition technologies. And despite questions being asked about ESG strategies, there are still tons of financial firms that are looking to invest in green bonds and other areas of sustainable finance.Luiza Demôro, the Head of Energy Transitions at BloombergNEF, joins the show to discuss a pair of reports that the team at BNEF recently released. One is their annual Power Transition Trends 2022 report and the other is a special look at the state of clean energy funding in emerging markets and developing economies. Demôro also offers her insights on what to expect from COP27 and how the policies discussed in Egypt can reshape energy markets around the world.Demôro explains how banks and other private investors have become  more willing to deploy capital to emerging markets, but they are looking for certain country-specific and project-specific risk criteria to be met before they go all in. Demôro also offers her insights on what to expect from COP27 and how the policies discussed in Egypt can reshape energy markets around the world.MFS Investment Management Do more than survive. See how we strive to make the most of changing bond markets.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
Unless you’ve been living under a rock for the last year or so, you’ve probably heard about all the money that’s either already been deployed or is on its way toward funding the energy transition.  When there are billions and billions in play, it’s not surprising that groups are coming together to lure capital to not only certain technologies, but also certain geographic regions.  Jane Stricker is the SVP for Energy Transition at the Greater Houston Partnership. She also serves as the Executive Director of the Houston Energy Transition Initiative. Jane and the team at HETI recently released a report from their capital formation working group, which includes some big time banks and investment firms – we’re talking Blackstone, Bank of America, Citigourp, EnCap, JP Morgan and more. The report is all about capital formation and what it will take to turn Houston – yes, Houston, which of course has a long history in oil and gas – into THE destination for climate capital to fund the energy transition. More resourcesHETI's Capital Formation WhitepaperHETI's Energy Transition StrategyLearn more about the H2Houston HubMFS Investment Management Do more than survive. See how we strive to make the most of changing bond markets.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
Tim McCourt, Senior Managing Director and Global Head of Equity and FX Products at CME Group, joins the show to talk about the launch of Event-based contracts. During the initial meme-stock frenzy, there were plenty of nightmare stories about retail investors getting in over their head with derivatives. Designed especially for retail traders, these new Event-based contracts are an easy-to-understand way for individuals to trade on daily up or down price moves in some of the world's most widely quoted benchmark futures markets, including the E-mini S&P 500, E-mini Nasdaq-100, E-mini Dow Jones Industrial Average, E-mini Russell 2000, crude oil, natural gas, gold, silver, copper and Euro FX.Amid all the headlines about the Ethereum "Merge," McCourt also shares some of the details about CME Group's extremely well-timed launch of options on Ether futures.Key highlights3:00 - What are Event-based contracts?5:12 - Solving a headline-grabbing problem6:57 - Which markets do these Event-based contracts cover?10:34 - A well-timed launch of Ether options12:23 - The impact of the Ethereum "Merge" on Ether optionsMore resources Learn more about Event contractsLearn more about CME Group's Ether optionsION Automation positively transforms the lives of people and business.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
Lauren Collins, a partner at Vinson & Elkins, joins the show to explain how the tax incentives in the Inflation Reduction Act stand to not only boost the deployment of renewable energy in the U.S., but also create new tax credit markets that might attract investment funds and retail investors. Collins also highlights one key area of the energy puzzle that the IRA has unfortunately overlooked.Key Highlights3:44 - The most important tax aspects of the bill  - PTC, ITC, Standalone Storage, Bonus credits6:00 - The new technology neutral credit regime and leveling the playing field for smaller players9:09 - Credit flexibility provisions (Direct pay and Transferability)12:20 - Bonus credits and "Stacking" (Domestic Content, Energy Community and Low-Income)17:10 - Prevailing wage provisions19:26 - What about Hydrogen, Nuclear and Carbon Capture Utilization and Storage (CCUS)?23:38 - Making room for Manufacturing, Minerals and Mining tax credits26:15 - Which aspects of the IRA are overhyped?28:21 - A new industry and marketplace for tax credits and tax professionals29:30 - The 'missing piece' in the legislation30:27 - Which aspects of the legislation are flying under the radar? Transmission misses out33:30 - Bold predictions - Credit investment funds enter financial markets ... and so do retail investors!More resources from Vinson & ElkinsRenewable Reboot: A Download on the Inflation Reduction Act of 2022 – Clean Energy Tax ProvisionsION Automation positively transforms the lives of people and business.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
Richard Hunt has been the leading voice for consumer banking in the U.S. for 13 years, and his advocacy for the financial services industry began long before that. This week, he will step down from his role as president and CEO of the Consumer Bankers Association, but he is NOT retiring. Richard talks with us about why term limits for politicians -- and trade association heads -- are a good thing, how Washington has changed over the years, and how the smartphone transformed banking.We also get Richard's thoughts on working with the Consumer Financial Protection Bureau over the years, which was established just a couple years after he took the helm at CBA,  and how he has grappled with two financial crises.Key talking points:Why it's time for a new voice at CBA (1:18)How the banking industry has evolved since the global financial crisis (3:13)How Washington has changed in the last 13 years (4:05)Differences between the 2008 crisis and the coronavirus crisis (5:09)How banks bolstered the economy through the pandemic (9:04)Working with the CFPB (10:41)How smartphones changed banking forever (14:35)What's next for Richard (16:52)Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
The venture capital sector had two bumper years in a row in 2020 and 2021, with record levels of fundraising, investment and exits. However, like the rest of the investing world, the market has cooled in the 2022 economy. Bobby Franklin, president and CEO of the National Venture Capital Association, talks with us about how the current economic climate is affecting the VC-startup ecosystem, and how startup leaders and investors are looking at their prospects. Bobby also talks with us about how VCs are approaching their ESG goals, which cities and regions are seeing more VC investment activity, the JOBS Act 4.0 and the push to establish a US startup visa.Key talking points:How the market conditions of 2022 have affected venture capital investment activity (0:26)Where the rising hubs for VC activity are (2:35)What sectors are likely to show strong growth going forward (4:26)How startups and VCs are looking at their prospects for going public as the IPO and SPAC markets slow to a crawl (5:58)Why VCs strongly support the establishment of a US startup visa (8:11)How the Jobs Act 4.0 would affect the VC sector (11:24)How VCs are approaching their ESG goals (13:40)The potential upside of tough times (21:11)Further listening:If you'd like to learn more about what policy initiatives are of high importance to the venture capital industry, check out NVCA's Venture Capitol podcast, hosted by Bobby. Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
While the comment period for the Securities and Exchange Commission's proposed rule on climate-related disclosure has been extended into June, the proposal offers a solid hint as to how the final rulemaking might take shape. Jamie Gamble, Managing Director at PwC, and Maggie Peloso, Partner at Vinson & Elkins, join the show to dig into the details of the proposed rule and offer tips on what companies should be doing now ... yes, right now ... to prepare for the final rulemaking.Key Talking Points:What are the basics of the proposed rule (1:56) Breaking down Scope 1, Scope 2 and Scope 3 emissions (2:38)The SEC departs a bit from "materiality" (3:23)Key nuggets of the proposed rule (4:52)Important things companies should be doing NOW to prepare (6:20)The challenge of reporting physical climate risk (8:20)Data, data and more data (10:11)The proposal is about more than just greenhouse gas emissions (12:08)A closer look at Scope 3 (13:29)The role shareholders might play in shaping the future 'materiality' (20:00)Will this rule cause companies to shy away from setting Scope 3 goals? (20:48)Navigating a new form of 'vendor risk' (22:55)Why planning ahead for this reporting matters (26:09)Will this rule change the makeup of individual boards? (30:01) More resources from Vinson & ElkinsProposed SEC Climate Disclosures: What’s happening and what are the implications for companies?The SEC’s Climate-Disclosures Proposed Rule – Eight Key TakeawaysMore resources from PwCSEC Climate Risk Disclosures: What it means for companies and what business leaders should do nextThe SEC wants me to disclose what? The SEC’s climate disclosure proposalSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPodSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
The term "energy transition" means different things to different people. In this episode, we focus on how "energy transition" means different things to people from different places. Michael Syn, senior managing director and head of equities at the Singapore Exchange (SGX), joins the show to talk about how markets in Asia are tackling decarbonization and the push to net-zero.Often mistaken as just one big market, individual countries and companies across Asia have a very different history with fossil fuels than their counterparts in the US and Europe.  Michael breaks down some of the innovative solutions that are in play across Asia and how global initiatives like the Glasgow Financial Alliance for Net Zero (GFANZ) can broaden their perspectives to bring more private capital to the sustainable investing market.Michael also delves into how SGX helps Singpore lead the way in the push to net-zero by serving as a cutting-edge market for new technologies, financial products, regulatory efforts and education initiatives related to sustainability.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPodSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
As corporations and countries plot their net-zero plans, carbon markets have become one of the most-talked-about components in the realm of sustainable finance. To hear more about this burgeoning corner of the markets, IncubEx Founder, President and COO Dan Scarbrough joins the show to share his insights. Dan outlines the growth carbon markets have enjoyed thus far, explains growing pains that have arisen and shares the details of a platform IncubEx is set to launch -- The Voluntary Climate Marketplace (TVCM) -- that aims to optimize the buying and trading process.Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPodSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
As week close out the week at the International Futures Industry Conference in Boca Raton, Florida, we’re joined by a very special guest. He’s easily the best person to give us a comprehensive perspective on all the events of this week. He’s Walt Lukken, the President and CEO of the Futures Industry Association.Eventus Systems Shine a Light on Your TradingSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
We are back with  a quick recap from the second day of the International Futures Industry Conference.  Yesterday, we predicted FIA Boca was shaping up to be a "bifurcated" conference; with one track focused on tech topics like crypto and cloud computing and another track focused on geopolitics and the war in Ukraine. Spoiler alert: We were right! Sign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
This quick recap is the first of three Colin and Sean are doing from their road trip to the International Futures Industry Conference.A month ago, it looked like the hot topics at FIA Boca would be crypto, the cloud and all things technology. But as is often the case, big news has barged its way into the conversations at Boca and now the  event is poised to be bifurcated (one of Sean's favorite market terms). Sure, there's the plenty of talk about technology ... but perhaps even more about how the industry can grapple with the impact war and geopolitics are having -- and will continue to have -- on markets.Eventus Systems Shine a Light on Your TradingSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
After graduating from the United States Naval Academy and serving in the US Marine Corps, Chris Perkins started his finance career at Lehman Brothers and eventually became a managing director at Citi, where he was Global Co-Head, Futures, Clearing and FX Prime Brokerage. Then, in the second half of last year, Chris left Citi to become President and Managing Partner at CoinFund.In this wide-ranging interview, Chris talks about his career pivot and the exciting promise of Web3, including how new advancements like decentralized autonomous organizations (DAOs) can reshape industries beyond finance. He also offers advice for other finance executives pondering similar career changes and also details the work he is doing to help military veterans transition into careers in digital assets.DAOs: What the ESG movement can learn from blockchain governanceCitadel's Ken Griffin outbids ConstitutionDAO for the US Constitution Veterans in Digital Assets -- Twitter -- PodcastChris Perkins helps lead Veterans on Wall Street - VOWSSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPodSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
You've probably heard all about the money being poured into the energy transition. We're talking trillions of dollars over the course of many decades. Everyone from sovereign wealth funds and private equity to venture capital and institutional investors seems to be getting in on the action.Joining the show are Albert Cheung, from BloombergNEF (BNEF) and Danielle Patterson from the law firm of Vinson & Elkins. Both of their organizations recently released reports (see below) about all the capital being poured into the energy transition … where it’s being spent … and who is spending it. We talk about each of those reports and also touch on how events like the war in Ukraine and the recently completed New York Bight offshore wind auction might impact the long-term outlook for renewables.BNEF: Energy Transition Investment Trends 2022V&E: How Private Capital is Shaping the Energy EvolutionSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPodSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
From the rise of ESG and meme stocks to the fall of China’s property sector, 2021 was a wild ride for the financial services industry. In the latest episode of Modern Money SmartPod, Sean McMahon and Colin Hogan look back on what we’re calling the SmartBrief 7: the seven most-memorable financial news stories of the year, as we see it.Sign up for Modern Money SmartBriefThe 10 Most-Clicked Stories from Modern Money SmartBrief for 20211. "Pandora Papers" expose hidden wealth of the powerful2. Newly appointed SEC enforcement head Oh resigns3. Sen. Warren asks Fed to break up Wells Fargo 4. JPMorgan ranked as top G-SIB5. Citi loses fight to reclaim $500M lost in error6. Robinhood seeks $1B to weather trading storm7. Credit Suisse takes $4.7B Archegos loss; execs exit8. Dimon: Economy approaching "Goldilocks moment"9. China outlaws all crypto-related transactions10. Retail trading army sends hedge funds into retreatMore about ICE: Environmental, Social and Governance issues are in the spotlight. Investors need the markets, data and indices to understand how their decisions impact the planet, people and their portfolios. At ICE, we provide data, markets and analytics to help you measure performance, manage risk and connect to opportunity. Visit ice.com/connecttoesg for more information.ICE Make Sustainable DecisionsSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
From COP26 to the boom in ESG investment funds, sustainable finance has been a hot topic in 2021. Kenneth E. Bentsen, Jr., president and CEO of the Securities Industry and Financial Markets Association (SIFMA) and CEO of the Global Financial Markets Association (GFMA), joins the show to discuss the crucial role capital markets will continue to play in efforts to decarbonize the global economy. On the heels of GFMA’s 2nd Annual Global Capital Markets Sustainable Finance Conference earlier this week, Bentsen outlines the regulatory landscape for sustainable finance and explains how voluntary and compliance carbon markets are a key part of the energy transition. Bentsen also notes how securitization could boost the build out of more renewable energy projects. More resourcesEmail AFME at events@afme.eu to be sent login details to watch an on-demand replay of GFMA’s 2nd Annual Global Capital Markets Sustainable Finance ConferenceUnlocking the Potential of Carbon Markets to Achieve Global Net ZeroSIFMA's Comment Letter on the Department of Labor’s recent ESG-related proposalSign up for SIFMA SmartBriefSign up for GFMA SmartBriefMore about ICE: Environmental, Social and Governance issues are in the spotlight. Investors need the markets, data and indices to understand how their decisions impact the planet, people and their portfolios. At ICE, we provide data, markets and analytics to help you measure performance, manage risk and connect to opportunity. Visit ice.com/connecttoesg for more information.ICE Make Sustainable DecisionsSign up for Modern Money SmartBriefFollow this show on Twitter @ModernMoneyPod
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