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Futures data will be useless to regulators without reporting delay, Esma warns
Esma responds to EC's 'intended rejection' of one-year postponement
Insurers demand clarity on Omnibus II
Equivalence, credit risk adjustment and details on level 2 text urgently needed, say top insurance executives
Revived Dodd-Frank position limits worry energy firms
The US Commodity Futures Trading Commission is gearing up for another big fight over position limits, after its original rule was rejected by a federal court. The agency’s latest proposal, released in November, gives market participants little reason for…
Control weaknesses continue to plague banks
The primary concerns for operational risk managers in 2014 include data theft, index rigging and reputational risk, but many have one thing in common – weak internal controls
Power market flux creates threats and opportunities for exchanges
Financial regulation, low volatility, flattened prices and the integration of regional markets have put European electricity trading in a state of flux. That poses threats and opportunities for power exchanges – and some industry observers say it could…
Volcker rule start date could be delayed
Final rule could provide blanket relief of up to 12 months, says source
Top 10 op risks: tighter consumer regulation
The last in our series of top 10 op risks for 2014 looks at tighter consumer regulation. An industry plagued by scandal will now face closer regulatory attention on its retail side
RBS agrees to sell £175bn structured product portfolio to BNP Paribas
BNP Paribas wins bid to acquire the multi-billion-pound structured products portfolio put up for sale by Royal Bank of Scotland
Top 10 op risks: culture of complicity
The ninth in our series of top 10 op risks for 2014 looks at culture of complicity. Criminal investigations have revealed disturbing common features in many recent scandals
Omnibus II agreement puts Solvency II back on track
More generous long-term guarantees package and long transitional period in deal
Sovereign hedging picks up as developing countries end fuel subsidies
A push to eliminate fuel subsidies across much of Africa, the Middle East and Asia is raising interest in the use of commodity hedging by governments as a way of containing social unrest. But it remains a challenge to get sovereign commodity hedging…
Top 10 op risks: reputational risk
The eighth in our series of top 10 op risks for 2014 looks at reputational risk. Admissions of guilt expose banks to more than simply public displeasure
Italy follows Ireland in retaining AFS bond filter
Banca d'Italia proposes to allow its banks to ignore some government bond volatility
Risk management should be more than just a decoration
Despite massive investment in human capital and technical resources, risk managers failed to warn about the dangers of toxic assets and excessive leverage in the run-up to the global financial crisis. Their lack of authority is partly to blame, writes…
Bill Clinton says failure to reform OTC markets earlier was a "real mistake"
Speaking at Sifma AGM, former US president says OTC market should have been forced into collateralised regime before 2008 crisis
Acer investigated 10 potential breaches of Remit in 2012
Acer probed 10 cases under Remit in 2012, agency says, in report that sheds light on the development of monitoring regime
Top 10 op risks: business continuity in the long term
In the seventh of our series of top 10 op risks for 2014, we look at long-term business continuity. Op risk managers need to prepare for crises that last months, not days
Ice members split over new client clearing model
Dealers fear mutualised exposure in 'sponsored principal' model
Sefs face major delays in operating outside the US
Despite an overseas person exemption that allows recognition of CFTC-approved swap execution facilities in the UK, Sefs could face significant delays before they can legally operate in other non-US jurisdictions
Top 10 op risks: IT failure
The sixth in our series of top 10 op risks for 2014 looks at IT failure. System crashes are an embarrassingly public way to lose money – and will become less and less affordable as transaction speeds grow
FCMs stunned by $1.75 billion client buffer at Credit Suisse
Swiss bank is tying up too much capital in immature business, rivals claim, after new NFA data shows it to be an outlier
End-users push back on termination rights delay
Derivatives end-users are pushing back on regulator demands to include temporary stays on termination rights linked to bank resolutions
Top 10 op risks: internal control failures
The fifth in our series of top 10 op risks for 2014 looks at internal control failures. Banks in 2014 face the task of improving governance to prevent another year of embarrassing losses
Tradition's Mike Anderson cheerful despite headwinds for energy brokers
Regulatory change and tough market conditions are creating deep uncertainty for energy brokers. But Tradition’s Mike Anderson remains optimistic about the business, he tells Stella Farrington