Feature
New head for Chicago Fed
Charles Evans will take over from Michael Moskow as president and chief executive of the Chicago Federal Reserve in September.
CEIOPS anticipates Solvency II difficulties
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has said it will struggle to meet the EU Commission’s demands for a factual report on the third quantitative impact study (QIS3) and a draft of the fourth study (QIS4) by…
Australia discusses insurance industry improvements
The Australian Prudential Regulation Authority (APRA) has published a discussion paper on proposed improvements to general insurance regulation.
Australia revises Basel II standardised approaches
The Australian Prudential Regulation Authority has published the final draft of its standardised approaches to credit and operational risk.
BBVA launches two new ETFs on FTSE indexes
FTSE has granted Spanish banking group BBVA a licence to launch two new ETFs on the FTSE Latibex Brasil Index and the Latibex Top Index.
Zurich launches next series of guaranteed accounts
Insurance-based financial services provider Zurich has launched the next in the series of guaranteed capital accounts, designed to give customers access to structured products.
Deutsche Bank lists first ETF linked to India's Nifty on Deutsche Börse
Deutsche Bank has listed two ETFs on Deutsche Börse’s XTF segment: the db x-trackers S&P CNX Nifty ETF tracks the performance of S&P’s Indian Nifty 50 Index, and the db x-trackers MSCI Korea TRN Index ETF tracks the performance of the MSCI Total Return…
NASD/NYSE merger gets SEC go-ahead
The Financial Industry Regulatory Authority, (FINRA) which consolidates the National Association of Securities Dealers (NASD) and the New York Stock Exchange’s member regulator, has been approved by the Securities and Exchange Commission.
Hedge fund risk overstated by Solvency II proposals
Solvency II, the insurance industry’s Basel, could unfairly hinder hedge fund investment by insurance and pensions companies.
FSA simplifies individual competence tests
The Markets in Financial Instruments Directive (Mifid) has prompted the Financial Services Authority (FSA), the UK’s industry regulator, to introduce a more straightforward competence regime.
OCC issues guidance on market risk capital rule
The Office of the Comptroller of the Currency (OCC) said that if trading assets and liabilities were worth more than $1 billion or constituted over 10% of total assets, then banks must comply with the market risk capital rule.
BIS investigates banks’ decisions on capital regulation
The Bank for International Settlements (BIS) has published a paper that looks at the relationship between capital regulation and banks’ financial decisions.
CESR responds to feedback with Market Abuse programme
The Committee of European Securities Regulators’ (CESR) work programme for the Market Abuse Directive will act on comments made by the Union’s securities industry.
HK central bank head discusses spotting risks
Joseph Yam, chief executive of the Hong Kong Monetary Authority, has said the market should give risk prevention more thought.
NY Fed chief discusses regulation
Timothy Geithner, the New York Federal Reserve’s president and chief executive, said regulators need to respond quickly to financial developments and co-operate more with their international peers.
Maybank offers hybrid deposit product in Malaysia
Maybank in Malaysia has launched a capital protected structured deposit product. The AsiaPac Hybrid Capital Protected offers 100% capital protection and a minimum 8% guaranteed return upon maturity.
CEBS approves financial reporting amendments
The Committee of European Banking Supervisors (CEBS) has updated its guidelines on financial reporting.
Cayman Islands takes staged approach to Basel II
The Cayman Islands Monetary Authority (CIMA) has said it will introduce Basel II in stages, following an impact study conducted by financial services company PricewaterhouseCoopers.
Saudi central bank governor expects banks to be ready for Basel II
Hamad Al-Sayari, governor of the Saudi Arabian Monetary Agency (SAMA), said the jurisdiction’s financial institutions can meet the challenge of Basel II implementation at the start of next year.
Swedish central bank head wants EU cross-border banking regulator
Stefan Ingves, governor of the Sveriges Riksbank, said he would like to see a supranational regulator for the major cross-border banks in Europe.
Risk management and stability better under Basel II, but industry unprepared
Basel II will improve risk management and stabilise the banking system, but almost half the industry is not sure they will be ready in time.
FSA recommends practices for managing compliance risk
The Financial Services Authority (FSA), which regulates the UK’s financial services industry, has published a set of good practices for managing compliance risks of investment banks.
JP Morgan hires retail structured products coordinator in Asia
JP Morgan has hired Paul Goodman from Deutsche Asset Management in Hong Kong as head of a newly formed coordinator of complaince for its retail structured product and equity derivatives group. Goodman reports to William Lee, head of equity derivatives…
BNP Paribas boosts commodity derivatives team
BNP Paribas has made a number of hires to boost its commodity derivatives team in London and New York. London-based Jose Cogolludo, who joined from JP Morgan last week, is now BNP Paribas’s global head of sales and marketing for commodity derivatives.