Feature
NASD and NYSE regulators to merge
The National Association of Securities Dealers (NASD), an independent regulator of the US securities market, and the New York Stock Exchange (NYSE)’s member regulation operations will become the Securities Industry Regulatory Authority (SIRA).
UK FSA appoints retail firms head
Sheila Nicoll is the new director of the retail firms division of the UK Financial Services Authority (FSA).
European Parliament endorses Equitable Life report
The European Parliament has supported the findings of the Committee of Enquiry’s report on the near-collapse of insurance company Equitable Life.
Credit risk efficiency contributes to Switzerland’s banking prowess
Philipp Hildebrand, vice-chairman of the governing board of the Swiss National Bank, said that more effective distribution of credit risk has benefited the jurisdiction’s banking industry.
Defining the boundaries
Him Chuan Lim, Basel II programme director at DBS Bank in Singapore, talks to Ellen Davis about operational risk's complex relationship with both credit risk and market risk
The principles of distribution fitting
Mikhail Makarov examines some of the challenges around fitting distributions properly to op risk models for the advanced measurement approach
Supervisory clampdown
South Korea's financial regulator is cracking down on foreign dealers doing illegal onshore derivatives business, signalling it is taking a tighter grip on the securities market ahead of major rule changes due in 2009. Joe Marsh reports from Seoul
Cicada strengthens Mifid software
Cicada, a technology company, has updated its Composer software so that it will demonstrate best execution on client transactions, once the Markets in Financial Instruments Directive (Mifid) is introduced in November.
Perry for Prytania
Malcolm Perry has been appointed chief executive office of Prytania Holdings, the structured finance funds management and software specialist, Perry will be an executive director on the Committee of Prytania Holdings, head of the Executive Committee and…
Iconium releases second edition of Mifid Policy Library
Iconium, a software company, said the second edition of Mifid Policy Library will contain all of the directive’s Level 2 requirements, suggested policies and recommended actions.
Comment requested on electronic communications regulation
The New York Stock Exchange and the National Association of Securities Dealers, a financial regulator, has asked for opinions on their joint proposals for the regulation of electronic communications.
US voices concerns over hedge fund code
The US has criticised European proposals for a voluntary code of conduct for the hedge fund industry.
Indian reserve bank deputy emphasises regulatory role
Rakesh Mohan, deputy governor of the Reserve Bank of India, has stressed the importance of central banks’ role in financial regulation.
SEC offers businesses compliance alerts
The Securities and Exchanges Commission (SEC), which has primary responsibility for regulating the US securities market, will offer a ComplianceAlert letter to SEC-registered firms.
Hedge funds set to benefit from Reuters software
Reuters is releasing a platform that allows hedge fund managers to access their real-time risk positions.
Fed holds hearing on mortgage regulation
The US Federal Reserve Board is discussing how it can better protect the mortgage market in light of recent difficulties in the industry.
Governance, Risk & Compliance
OpRisk & Compliance magazine is conducting its monthly survey on key issues within risk management and compliance. This month's topic is Governance, Risk & Compliance.
UBS hires equity derivatives sales from RBC
UBS in Canada has hired Allan Maclean-Howard as head of Canada equity derivatives sales. Maclean-Howard is based in Toronto and will be responsible for marketing all global equity underlying structured products to Canadian clients as well as promoting…
Fed calls for consumer advisory board candidates
The US Federal Reserve has asked the public to nominate 10 new members for the Consumer Advisory Council.
CEBS consultation on commodities businesses reveals risk areas
A consultation by a group of EU banking supervisors on issues arising from trade in commodities has identified market, operational, legal and liquidity risk as possible problem areas.
Basel II forces more hedge-fund transparency in Japan
The hedge fund industry is disclosing strategy in a bid to appeal to Japanese investors scared off by Basel II regulation, according to an official at Japan’s Financial Services Authority (FSA).
CEBS discusses objectives of large exposure regulation
The Committee of European Banking Supervisors (CEBS), which comprises various heads of central banks and senior regulators across the EU, has said counterparty credit quality should not matter when assessing the level of risk involved in large exposures.
Boston Fed regulation chief promoted
Eric Rosengren is the new president and chief executive of the Federal Reserve Bank of Boston.
Arc Capital and Income Launches Bull and Bear Tracker Plan 2
UK-based distributor Arc Capital and Income, the new structured product division of Arc Fund Management Holdings, has launched a second version of its Bear and Bull Tracker, dubbed Bull and Bear Tracker Plan 2.