News
Finra targets conflicts of interest in structured products industry
The US regulator has published a report saying issuers and sellers should be doing more to manage conflicts of interest that arise when deciding which products to sell and to whom
Another $100m fine for JP Morgan over London Whale market manipulation
Attempts to "defend" CDS positions broke the law, CFTC rules
Question marks surround Dalian iron ore futures contract ahead of launch
Although the market is excited about the new contract’s possibilities, uncertainties remain over physical delivery capabilities and liquidity levels
Credit Suisse extends ICPPI hedging platform
Swiss bank adds SunGard data service to reduce operational barriers for insurers
Yellen nominated for Federal Reserve chair, and other recent job moves
Changing hats – November 2013
L&G commits to UK retail market despite exit of structured products head
Declining sales figures blamed for the redundancy of Legal & General structured products head James Harrington, but it's 'business as usual', says the firm
Cooke joins HSBC as global head of operational risk
Moves from Barclays Wealth where he was CRO
China relaxes liquidity rules to fall in with Basel timeline
New approach to liquidity risk intended to reduce the regulation's pro-cyclicality
Irish variable annuity companies braced for new reporting requirements
Regulator introduces new risk monitor to scrutinise market risks and act as early-warning indicator
Brent options trading disrupted by Ice expiry date shift
Proposals to ensure convergence between futures and physical Brent cause firms to avoid trading long-dated options
Haldane dismisses talk of monetary and macro-prudential tensions
Bank of England’s Andrew Haldane says it is a virtue that different tools can be used to meet conflicting objectives
Barclays enters supply-and-offtake deal with US refinery
Barclays clinches deal with Hawaii refinery as US Federal Reserve scrutinises physical commodity trading by banks
Dispute resolution mechanism needed to resolve regulatory spats – EC’s Pearson
Differences in national regulations need to be ironed out, says Patrick Pearson
Secretive start-ups eye uncleared OTC risk reduction
Dividing the over-the-counter market into cleared and uncleared products creates extra risk and inefficiency, critics claim – it also creates an opportunity for services that can repair the damage. Start-ups and established firms alike are now jockeying…
Hong Kong lags on Esma equivalence
Esma unable to grant equivalence on Hong Kong's OTC clearing regime as framework is not yet in place
No plans to change haircuts on US Treasury collateral, CME says
CME Group has no plans to alter haircuts on US Treasury bills, despite some concern that politicians will fail to avert a US default on October 17
Banks to pay £400m in fees to ombudsman over PPI complaints
£900 fee per PPI claim handled has seen banks rack up millions in charges
Ibex 35 finds favour with foreign investors
Ibex 35 finds favour with foreign investors
Energy Risk Europe: Ofgem outlines UK power market changes
Ofgem senior economist makes case for power market reform and details proposals to alter balancing arrangements
Energy Risk Europe: Questions over benefits of CVA for energy firms
Lack of credit team or CVA desk might make use of measure counterproductive, panellists worry
National authorities have ‘moral obligation’ to introduce systemic risk measures - IAIS secretary general
G-20 pressure and FSB peer review will guarantee compliance of nation states
Energy Risk Europe: Commodity trading demands big data, says Trafigura CRO
Commodity trading firms urged to use advancements in big data to gain strategic advantage
BoE's Tucker wants more robust CCP governance
Bank of England deputy governor Paul Tucker raises concerns over the size and for-profit nature of CCPs
Asic temporarily exempts Australian banks from non-CFTC trade reporting requirements
Australian industry needs additional time to set up trade reporting infrastructure