Feature
Nasdaq Introduces ETF Market
US stock exchange Nasdaq will launch the Nasdaq ETF Market in the third quarter of 2007. The market is designed specifically for exchange traded funds (ETFs) and index-linked notes.
JP Morgan gets Savary
Carole Savary has joined JP Morgan as an executive director and head of cross-asset Structured Investments Distributor Marketing (SIDM) for France, Belgium and Luxembourg.
CEIOPS publishes report on convergence
The Committee of European Insurance and Occupational Insurance Supervisors has published its interim report on supervisory convergence in the insurance and occupational pensions industries.
Belgian bank chief pushes integration agenda
Guy Quaden, governor of the National Bank of Belgium, has emphasised the importance of regional integration in regulating financial markets.
FSA criticises subprime industry
The Financial Services Agency (FSA), the UK industry regulator, has found that lenders and intermediaries inadequately assessed and monitored their subprime loan customers.
CESR lists liquid shares
The Committee of European Securities Regulators (CESR) has published details of shares that qualify as liquid for the purposes of the Markets in Financial Instruments Directive (Mifid).
French banking head discusses impact of radical regulatory change
Christian Noyer, governor of the Bank of France and chairman of the French Banking Commission, has said that the country’s banks are dealing with a rapidly changing regulatory environment and that supervisors must become more flexible and watchful as a…
US Futures Exchange to list wind derivatives
The Chicago-based US Futures Exchange (USFE) will list futures contracts on average wind speeds within the next three months.
SGAM AI is to launch sharia-compliant index funds
SGAM Alternative Investments (SGAM AI), a subsidiary of Societe Generale Asset Management, is to launch a series of sharia-compliant index funds linked to Standard & Poor’s (S&P) sharia indexes.
VTB Bank Europe Appoints Martin Pasek to Head of Structured Products
VTB Bank Europe has hired Martin Pasek as head of structured products, with responsibilities for building and managing VTB Bank Europe’s Global Markets structured product capabilities.
Canada’s Pro-Financial puts structured products distribution on hold
Canada’s fund manager Pro-Financial has stopped offering principal protected notes (PPNs) to investment dealers, according to Ravi Ramaswamy, senior vice-president at Pro-Financial in Toronto.
Australia aims for Basel II compliance with capital adequacy changes
The Australian Prudential Regulation Authority (APRA), which monitors the jurisdiction’s finance industry, has outlined its proposals for new capital adequacy rules.
BBA bemoans unregulated lending
The British Bankers’ Association (BBA) has said that the banking industry’s code on responsible lending should be compulsory for all lenders and not just banks.
FSA publishes conclusions of M&A inside information review
The Financial Services Authority (FSA), the UK’s industry regulator, said firms should introduce more formal policies to ensure takeover information stays secret.
CAAM makes appointments in Italy
Crédit Agricole Asset Management (CAAM) has made appointments to its Italian subsidiary, CAAM SGR, to target both the retail market and the institutional investors market.
NY Fed promotes three to senior vice-president
The Federal Reserve Bank of New York has announced promotions for Richard Dzina, Kenneth Lamar and James McAndrews.
CEIOPS draws main conclusions from members’ meeting
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published the main conclusions of the members’ meeting, which took place on June 27–28.
EU highlights plans for regulation
The EU parliament has published details of how it will improve financial services regulation.
BIS releases working paper on credit risk
The Bank for International Settlements has published a paper entitled Modeling and calibration errors in measures of portfolio credit risk.
FSA publishes feedback on review of investment fund listings
The Financial Services Authority (FSA), the UK’s financial services regulator, has published a combined consultation and feedback paper on the Investment Entities Listing Review.
Singapore central bank deputy chair notes progress in Asia’s corporate governance
Tharman Shanmugaratnam, deputy chairman of the Monetary Authority of Singapore, said corporate governance has improved substantially in Asia since the 1997 financial crisis.
OTS presents five-year plan
The Office of Thrift Supervision (OTS), the primary regulator of federal savings associations in the US, has released its 2007–2012 strategic plan.
Swiss central bank chair rejects regulation of hedge funds
Jean-Pierre Roth, chairman of the Swiss National Bank, has said hedge funds do not threaten financial stability and that direct regulation would be difficult to justify.
FSA wants principles-based insurance regulation
The Financial Services Authority (FSA), which regulates the UK’s financial industry, has published a consultation paper that details radical reforms for the insurance industry.