Feature
Lyxor offers Happiness in Hong Kong
Lyxor Asset Management, a subsidiary of French bank SG, has launched the Lyxor 3-Happiness China Fund in Hong Kong. The three-year product invests directly in the Hang Seng China Enterprises Index (HSCEI) and provides a minimum return of 25% at maturity…
Manpower is a huge challenge facing Barbados’ Basel II plans, says governor of the central bank
The lack of trained staff is expected to become of critical importance to the country now that preparations for Basel II are in full force, according to the governor of the central bank of Barbados.
EC calls for advice on the review of commodities business under the CRD
The European Commission (EC) has asked the Committee of European Banking Supervisors (CEBS) for advice on commodities firms under both the Capital Requirements Directive (CRD) and the Markets in Financial Instruments Directive (Mifid). CEBS is going to…
In Brief:
FSA publishes new Mifid requirements
Singapore’s UOB launches Champion Deposit
Singapore-based United Overseas Bank (UOB) has launched the UOB Champion Deposit. The structured deposit, linked to equities, currencies and commodities, guarantees a fixed interest payout of 6.2% at the end of the first year.
Congress to hold hearing on the standardised approach for US banks
A congressional notice for a hearing to discuss implementation of Basel II, which will include the controversial request of four of the largest banks in the US to allow the standardised approach, has been issued to the four US regulators.
HSBC first on the scene with QDII products in China
HSBC has become the first foreign bank to provide Qualified Domestic Institutional Investor (QDII) products in mainland China. The bank received approval from China’s State Administration of Foreign Exchange (SAFE) for a quota of US$500 million for its…
Nasdaq hires senior vice president of financial products
US exchange and index provider Nasdaq has hired Steven Bloom as its new senior vice president of financial products.
SEC names new market regulation chief
Securities market expert Erik Sirri is to join the US Securities and Exchange Commission (SEC) as director of the market regulation division.
I-Flex solutions acquires Mantas
An IT solutions provider to Tier 1 banks has acquired compliance provider Mantas. I-Flex announced the purchase of the Virginia-based company yesterday to further develop its risk and compliance solutions suite.
Global private equity firms acquire FRS
Two global private equity firms, Kennet Partners and the Carlyle Group have announced the acquisition of regulatory and compliance providers FRS. FRS will continue to provide financial reporting solutions through its suite of applications.
EC clarifies informed consent in Prospectus Directive
The European Commission has published draft amendments to the regulation concerning the Prospectus Directive, which aims to protect investors and enable passporting throughout the EU.
SEC proposes relaxation of Sarbox for foreign firms
The Securities and Exchange Commission (SEC) of the US has proposed a relaxation of the Sarbanes-Oxley rules, allowing foreign companies listing on US exchanges an extra year to comply with the regulations.
Citi rebuilds Asia commodities team
Citigroup has made several hires to its commodities team in Singapore. The US bank has been looking to build up the division since the departure to Merrill Lynch in April 2005 of commodities head Mark Long and most of his team.
Overview of risk-based supervision in Hong Kong
In its recent report on emerging markets, the Bank for International Settlements provided a summary of the latest efforts of the Hong Kong Monetary Authority (HKMA) to enhance the efficacy of its risk management.
In Brief: Apra amends IFRS guidance
Apra publishes amendments to IFRS
ECAIs fulfil Basel II requirements
Three external credit assessment institutions (ECAIs) have met Basel II requirements and are now eligible to provide ratings for regulatory capital purposes and mapping credit assessment.
In Brief:
AMF issues Mifid consultation paper
Follow up: BIS on emerging economies
In this chapter of the Bank for International Settlements’ recent report on emerging markets, the BIS discusses the changing nature of risks facing banks.
SEC decides not to appeal hedge fund setback
Christopher Cox, the chairman of the US Securities and Exchange Commission, will not appeal against a court decision limiting the regulator's ability to supervise hedge funds.
FTSE and DIFX to launch sharia-compliant GCC indexes
Index provider FTSE and the Dubai International Financial Exchange (DIFX) have jointly created two sharia-compliant Gulf Cooperation Council (GCC) country equity indexes for domestic, GCC, and international investors.
Premier Asset Management offers protected growth plan
Premier Asset Management in the UK has launched a new guaranteed structured product to capitalise on investor anxiety after the market correction in May. The Premier Protected Growth Plan offers exposure to any growth in the FTSE 100 Index and the…
Standard Chartered implements software for structured deposits
Standard Chartered Bank is to implement a structured deposits pricing and processing system for its operations in Taiwan, Indonesia, Brunei, Malaysia, Japan and UAE. The bank will link its Premium Currency Investment (PCI) businesses for these countries…