Feature
UK FSA’s risk assessment framework updated
Changes to the risk-based regulatory framework used by the Financial Services Authority in the UK has been issued today. The report was published by the regulator as a part of a scheduled series addressing the Advanced, Risk-Response Operating FrameWork …
Likely UK client categorisation proposals for Mifid set out
UK regulator Financial Services Authority (FSA) has outlined the upcoming client categorisation consultations and proposals that will need to be addressed before the Markets in Financial Instruments Directive (Mifid) is implemented next year.
India to implement Basel II by March 2007
Indian banks will be required to begin implementing Basel II by March 31, 2007 to align current banking practices with international standards, the Reserve Bank of India (RBI) has announced.
BIS releases principles for business continuity
Comment letters received from the Bank for International Settlements on high-level principles for business continuity have been published. The resulting overview for ‘High level principles for business continuity’ provides the revisions to the business…
Interwoven launches new processing platform
US-based technology firm Interwoven has launched a new structured products processing platform. Scrittura P2P is the latest in its range of OTC processing solutions.
Barclays launches new offshore deposit range
Barclays has launched two new structured deposits offering exposure to three equity and two property indexes. The Guaranteed Minimum Return Equity Account has a three-year term and the Guaranteed Equity Deposit Account has a five-year term.
FTSE and JSE launch dividend index
FTSE and the Johannesburg Securities Exchange (JSE) have launched a tradable index. The FTSE/JSE Dividend Index takes companies from the FTSE/JSE Top 40 Index and FTSE/JSE Mid Cap Index, excluding real estate companies, and ranks them by their one-year…
Standard Bank goes live with credit risk management solution
An international bank has gone live with a counterparty credit risk management solution today that will also help it achieve Basel II compliance in key areas of its business. Standard Bank announced that the first phase of its solution on a single global…
Communication with regulators is key for regulating foreign banks in the US, says Fed VP
Home regulators and foreign banks operating in the US must increase communication and collaboration to ensure smooth regulatory compliance, said the executive vice-president of the Federal Reserve Bank of New York, William Rutledge, speaking at the…
Follow-up:
CEBS releases questionnaire on commodities business and commodity firms
HSBC launches Singapore's first principal protected retail note
HSBC has launched what it claims to be the first principal protected note developed for retail investors in Singapore.
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.