Feature
SIA and BMA to merge
The Securities Industry Association (SIA) and the Bond Market Association (BMA) have announced that they will merge to form the Securities Industry and Financial Markets Association (SIFMA).
In brief: CEIOPS releases QIS 2 clarifications
A clarification to the second Quantitative Impact Study (QIS 2) for Solvency II has been released by the Committee of European Insurance and Occupational Insurance Supervisors (CEIOPS).
KPMG survey on insurance sector’s capital assessment practice released
Current capital assessment practices are a global concern, according to a study produced by consultants KPMG. Though the topic is of most concern in European countries, which will be implementing the Solvency II directive, interest from the International…
Banks not fulfilling TCF requirements
Banks have failed to fully implement principles-based regulation surrounding Treating Customers Fairly (TCF) throughout the entire institution, claimed a panellist at the Financial Services Authority (FSA).
Changing times for managing liquidity
NEW YORK – Managing and accessing liquidity in electronic foreign exchange means something entirely different now to what it did five years ago, according to Bill Hartnett, global head of forex e-commerce at Citigroup.
When Risks Collide
Operational-risk projects like Sarbanes-Oxley and Basel II compliance have more in common than many firms realize. Waters asks industry participants: Does it make sense to combine op-risk efforts?
Sarbox Stunts IT Investment
The road to Sarbanes-Oxley (Sarbox) is littered with dead IT projects and withered budgets, according to a recent report.
Brown-Hruska steps down from CFTC
Sharon Brown-Hruska has left the US Commodity Futures Trading Commission (CFTC) to take up a role as vice president in the securities and finance practice of Washington DC-based NERA Economic Consulting.
Skipton offers property and FTSE linked bonds
Skipton, the seventh largest building society in the UK, has launched two guaranteed index-linked bonds. The five-and-a-half year 100% capital guaranteed products offer exposure to the FTSE 100 Index and the Halifax House Price Index (HPI) while…
The Waiting Game
With the Markets in Financial Instruments Directive deadline just 16 months away, Waters sits down with Chris Pickles, chair of the MiFID Joint Working Group and manager of industry relations at BT Radianz, to gauge the industry's state of preparedness.
Tell it to the judge
With well over a year to go to implementation, the Mifid bandwagon is already rolling through investment firms across Europe, but what punishment can financial services criminals expect, if any? Peter Madigan investigates
Quantifying operational risk using expert opinions
We seem to be in the same situation now with operational risk as we were 15 years ago with credit risk, that is, a lack of data to build useful models. But this gap may be partially filled by appropriate use of expert opinions. By Christopher Hall
US firms poach reg workers
NEW YORK – The securities industry firms are snatching skilled personnel from the regulatory agencies at a worrying rate, NYSE Regulation executives say.
Can SOX services be outsourced?
Companies, especially larger ones, have been grappling with Sarbanes-Oxley (SOX) for over a year now. Maturity, say analysts, has set in, and most firms, now over the learning curve, are trying to find ways to reduce the labour and cost it takes to…
Benchmarking for Mifid is unnecessary and will not work, say three top trade associations
The three top trade associations for capital markets have slammed the Financial Services Authority’s (FSA) early support for benchmarking.
Le Pan resigns from OSFI
Nicholas Le Pan, the current head of the Office of the Superintendent of Financial Institutions (OSFI), has announced his resignation from the Canadian regulator two years before his term was due to expire.
Prudential launches Asia Pacific Income Fund in Malaysia
Prudential in Malaysia has launched the Asia Pacific Income fund. The fund will invest at least 90% (target 96%) of the fund’s net asset value (NAV) into a structured products issued by Deutsche Bank Malaysia. In turn, Deutsche will invest in Ringgit…
Morrison & Foerster to build London presence
US law firm Morrison & Foester is looking to build a sizeable structured products and derivatives practice, based in London.
BarCap hires Bes from BNP Paribas to head private bank coverage
Barclays Capital has hired Pierre Bes as a managing director and head of private bank coverage for Europe.
Nomura deploys DataSynapse GridServer
Nomura International, the European business of Japanese investment bank Nomura Group, has gone live with DataSynapse GridServer. The product was designed by US technology firm DataSynapse and will be used in Nomura's structured products trading business.
Jefferies continues to build equity derivatives team
US investment bank Jefferies has appointed Jason Glover as a senior equity derivatives trader in its equity derivatives trading group.
In Brief:
UK FSA updates International Regulatory Outlook
Barclays Capital launches new range of UK products
UK investment bank Barclays Capital has launched a new range of core protected products. The four products are all linked to the performance of the FTSE 100 Index
In Brief:
EC publishes Lamfalussy league table CEIOPS to hold public hearing on CP 13 and 14