Feature
JP Morgan launches retail petrol index in Germany
JP Morgan has launched an index that monitors the changes in the retail pump price of petrol in Germany. The JP Morgan SuperBleifrei Flat Tax Index is a tradable index, and is intended for use in structured investment products to enable investors to…
MAS releases proposals for Basel II implementation
The Monetary Authority of Singapore (MAS) has published a consultation paper on the draft proposals for the implementation of Basel II. The consultation paper follows the phase II consultation paper in March of this year and proposes rules for…
EC close to approving Mifid
The European Commission is expected to approve the technical measures of the Markets in Financial Instruments Directive (Mifid) in September. The announcement was made after the European Securities Committee’s (ESC) unanimous approval of the measures.
BIS elects new members to the board of directors
The Bank for International Settlements (BIS) has elected three new governors to its board of directors. The election of Guillermo Ortiz, governor of the Bank of Mexico, Jean-Claude Trichet, president of the European Central Bank and Zhou Xiaochuan,…
CEBS publishes survey on national implementation of own funds
The Committee of European Banking Supervisors (CEBS) has published the results of a survey of the national implementation of the current rules on own funds, based on information provided by member states. The survey highlights national differences across…
Solvency II – the progress so far
The 14 directives that make up the package that is Solvency I are comprehensively out of date in terms of capital adequacy and risk. Regulators began work on the new Solvency II framework in 2002, structured around a risk-based system that applies…
HKMA finalises policy on ECAIs for Basel II
The Hong Kong Monetary Authority (HKMA) has released its policy paper on the recognition of External Credit Assessment Institutions (ECAIs). The HKMA has assessed a number of ECAIs that may be recognised for the standardised approach for the calculation…
Dubois to head up Calyon’s equity and fund derivatives business in Asia-Pacific
Calyon Corporate and Investment bank has promoted Cédric Dubois to regional head of equity and fund derivatives for Asia-Pacific, including Japan.
FTSE and DIFX launch GCC indexes
FTSE Group and Dubai International Financial Exchange (DIFX) have created the Gulf Cooperation Council (GCC) country tradable indexes for domestic, GCC, and international investors. These indexes are the first GCC country tradable indexes, according to…
SG offers Excel Notes 13 & 14 in Hong Kong
Société Générale in Hong Kong has launched the SG Excel Notes 13 and 14. SG says the notes provide investors the opportunity to tap returns from Hong Kong stocks within one year.
UBS launches Oilfield Strategy Index
UBS has launched the UBS Oilfield Strategy Index (UBS-OSI). This new oilfield strategy index is based on WTI crude oil (West Texas Intermediate). Financial structured products on this Oilfield Index will be available in various maturities and currencies,…
United Overseas Bank launches Vic3 Deposit
Singapore based investment bank United Overseas Bank has launched a new structured deposit. The UOB Vic3 Deposit has underlying components linked to equities, currencies and commodities in the developing markets of China and Central Eastern Europe.
Barclays Capital launches managed CCO
UK investment bank Barclays Capital has launched a managed version of its Collateralised Commodity Obligation (CCO). Everest I will be released to institutional investors globally in partnership with CDO manager TCW Asset Management.
Citigroup and Standard and Poor’s launch index
Investment bank Citigroup and credit rating agency Standard and Poor’s have created a new research-based equity index. The Citigroup S&P Global STARS Custom Index will provide exposure to stocks identified by S&P’s analysts as having high growth…
Henderson makes further hire in structured products
UK based investment manager Henderson Global Investors has continued to expand its structured products business with the recruitment of Shammi Malik as portfolio manager in the structured products team. Malik will report to Jim Irvine, who was appointed…
Convergence and harmonisation is key to the success of Solvency II, according to panellists at public hearing
Harmonisation and convergence were the main themes that marked a public hearing at the European Commission (EC) on Solvency II yesterday. The panel, which included industry stakeholders, consumer groups, members of the European Commission and the…
Aussies Rule
Australia is racing ahead with Basel II implementation compared with other nations. Peter Madigan asks how they have done it and whether the rest of the world can follow in their footsteps
EU commissioner aims to increase co-operation and reduce cost of regulation
Charlie McCreevy, the European Commissioner for Internal Markets and Services, has cited “dynamic consolidation” as the way to build on the success of the Financial Services Action Plan and create an “open and competitive market place – encouraging…
Super or supergrass?
After the corporate scandals of 2002, new rules were established to ensure staff have the chance to report any wrongdoing. However, as Peter Madigan discovers, it may be that whistleblowing schemes are seen as a token gesture
Solvency II will lead to risk-adequate pricing and benefit insurers, according to study
A study by the global insurance company Swiss Re has found that Solvency II will reinforce risk-adequate pricing and that insurers will be rewarded for using risk mitigation tools. According to the report, Solvency II will lead to a better picture of an…
SOX internal control costs decline
BOSTON – The cost of implementing the Section 404 internal control requirements of Sarbanes-Oxley (SOX) declined significantly in 2005, according to a study commissioned by the four largest accounting firms.
QIS5 results released
The Bank for International Settlements (BIS) has released the results of the fifth Quantitative Impact Study (QIS5). The new study, which reflected all recent changes to the Basel II framework, shows that the minimum capital requirements would decrease…
Mifid benefits for UK 'hard to grasp'
LONDON – The Financial Services Authority (FSA) has confirmed a final timetable for the implementation of the Markets in Financial Instruments Directive (Mifid) in the UK but has admitted that the cost of the new regime will be considerable and the…
Make UK the winner of Mifid race, say regulators
EU praises UK Mifid approach LONDON – The UK's approach to the implementation of the Markets in Financial Instruments directive was praised by an EU official at a mid-May Financial Services Authority conference in London.