Feature
FSA simplifies individual competence tests
The Markets in Financial Instruments Directive (Mifid) has prompted the Financial Services Authority (FSA), the UK’s industry regulator, to introduce a more straightforward competence regime.
OCC issues guidance on market risk capital rule
The Office of the Comptroller of the Currency (OCC) said that if trading assets and liabilities were worth more than $1 billion or constituted over 10% of total assets, then banks must comply with the market risk capital rule.
BIS investigates banks’ decisions on capital regulation
The Bank for International Settlements (BIS) has published a paper that looks at the relationship between capital regulation and banks’ financial decisions.
CESR responds to feedback with Market Abuse programme
The Committee of European Securities Regulators’ (CESR) work programme for the Market Abuse Directive will act on comments made by the Union’s securities industry.
HK central bank head discusses spotting risks
Joseph Yam, chief executive of the Hong Kong Monetary Authority, has said the market should give risk prevention more thought.
NY Fed chief discusses regulation
Timothy Geithner, the New York Federal Reserve’s president and chief executive, said regulators need to respond quickly to financial developments and co-operate more with their international peers.
Maybank offers hybrid deposit product in Malaysia
Maybank in Malaysia has launched a capital protected structured deposit product. The AsiaPac Hybrid Capital Protected offers 100% capital protection and a minimum 8% guaranteed return upon maturity.
CEBS approves financial reporting amendments
The Committee of European Banking Supervisors (CEBS) has updated its guidelines on financial reporting.
Cayman Islands takes staged approach to Basel II
The Cayman Islands Monetary Authority (CIMA) has said it will introduce Basel II in stages, following an impact study conducted by financial services company PricewaterhouseCoopers.
Saudi central bank governor expects banks to be ready for Basel II
Hamad Al-Sayari, governor of the Saudi Arabian Monetary Agency (SAMA), said the jurisdiction’s financial institutions can meet the challenge of Basel II implementation at the start of next year.
Swedish central bank head wants EU cross-border banking regulator
Stefan Ingves, governor of the Sveriges Riksbank, said he would like to see a supranational regulator for the major cross-border banks in Europe.
Risk management and stability better under Basel II, but industry unprepared
Basel II will improve risk management and stabilise the banking system, but almost half the industry is not sure they will be ready in time.
FSA recommends practices for managing compliance risk
The Financial Services Authority (FSA), which regulates the UK’s financial services industry, has published a set of good practices for managing compliance risks of investment banks.
JP Morgan hires retail structured products coordinator in Asia
JP Morgan has hired Paul Goodman from Deutsche Asset Management in Hong Kong as head of a newly formed coordinator of complaince for its retail structured product and equity derivatives group. Goodman reports to William Lee, head of equity derivatives…
BNP Paribas boosts commodity derivatives team
BNP Paribas has made a number of hires to boost its commodity derivatives team in London and New York. London-based Jose Cogolludo, who joined from JP Morgan last week, is now BNP Paribas’s global head of sales and marketing for commodity derivatives.
Merrill Lynch launches temperature linked certificate
Merrill Lynch has launched a two-year, euro-denominated certificate that offers an annual return based on the average temperature in Roma-Ciampino, Italy.
Barclays Stockbrokers launches equity-linked note
Barclays Stockbrokers has launched a five-year capital protected structured note linked to a basket of 10 global financial companies. The Global Financial Services Investment Note offers investors 160% of any rise in the performance of the basket.
Bank of Albania head plans to strengthen supervision
Ardian Fullani, governor of the Bank of Albania, said that regulation would remain a priority.
S&P releases Pillar 3 guidance
Standard & Poor’s guidance aims to promote sound market discipline
FSA and Treasury publish plans for UK covered-bonds framework
The Financial Services Authority, which regulates the banking industry in the UK, and the Treasury have published plans for a legislative framework for covered bonds.
ISDA Appoint Deputy CEO
The International Swaps and Derivatives Association (Isda) has appointed George Handjinicolaou as deputy CEO and regional director for Europe, the Middle East and Africa (Emea).
Bank of Ireland launches offshore global growth bond
The Bank of Ireland and its branch, Guernsey-based Bristol & West International, has launched the Global Growth Bond.
Basel II obligations force Central Bank of India to expand
The Central Bank of India, a commercial bank, is to open 100 new branches to ensure it meets the Basel II norms.
US finally reaches compromise on Basel II
Basel 1A dropped and advanced approaches to be consistent with international standards