News
Gensler not ruling out targeted Sef relief
CFTC chairman recognises difficulty in meeting October 2 Sef deadline, but says platforms need to be targeted in requests
BlueBay Asset Management appoints alternative sales director
BlueBay names a director for its alternative sales team as Harmonic Capital appoints a managing director for North American distribution. Law firm Walkers adds to its Hong Kong funds group
Insurers urged to prepare global risk management strategies
Sars outbreak 'showed insurers not immune to interconnected global crises', says AIG Asia-Pac deputy finance chief
FX options clearing a 'big challenge', warns NY Fed official
Speaking at the FX Invest West Coast conference, the New York Fed's Jeanmarie Davis addressed the challenges associated with clearing and settlement of forex options
Non-US clients shun US bank foreign branches
Non-US customers are refusing to trade with foreign branches of US banks ahead of an October 9 clearing deadline. Uncertainty over whether these entities are ‘bona fide’ foreign branches has added to the problems
CFTC appoints director of market oversight division
Vincent McGonagle to replace acting director Richard Shilts
FCA: insurers are 'undermining' RDR rules
Regulator finds that "more than half" of UK insurers are still offering banned inducements
Sefs questioned on plans for erroneous trades
Swap execution facilities have been rushing to meet an October 2 deadline for registration, but more thought is needed on how platforms will deal with trade failures, say conference participants
Asian insurers 'must strengthen data security' in face of new laws and technology
Data security legislation and new technologies require more sophisticated security measures, say CROs.
Swap futures start-up needs dealer support, says buy side
New London-based platform has buy-side fans, but no publicly declared backing from market-makers
Conference condemns Dodd-Frank limits on intervention
2010 reform act robbed the US authorities of the powers it used to fight crisis, conference hears
The road to issuance and dispute resolution for structured products in Singapore
While its private bankers have regained an appetite for structured products, Singapore's less rich retail investors have been getting used to a new regulatory and dispute resolution scheme put in place by the MAS
Asia CROs divided on risk culture measurement
Risk culture hard to manage, even harder to measure, say panellists at Insurance Risk Asia
Scotiabank promotes Hart to risk chief, and other recent job moves
Stephen Hart replaces Rob Pitfield as Scotiabank CRO, and other Changing Hats stories from the past month
FCA quizzes hedge funds on interest rate exposure
Regulator wrote to large hedge funds in August, following volatility in UK interest rates market
Foreign issuers lobby Turkish government to change structured products regulation
Different tax treatment is placing foreign banks at a disadvantage, they say
Pressure mounts on CFTC for relief on Sef rules
CFTC is being lobbied to grant relief on the contentious Footnote 88, which requires platforms to register as Sefs even if the products they offer are not yet made available to trade
EU Council accused of bulldozing over long-term guarantees proposals
German MEP “appalled” by “irresponsible” council as Omnibus II trilogue negotiations resume
Esma blames repositories for OTC reporting delay
Esma unable to approve repositories for new regime because applications are incomplete, regulator says
Oil producer hedging surges amid Middle East turmoil
Elevated WTI prices, pushed up by regional unrest, are creating opportunities for US oil producers to hedge
Industry ‘won’t bother’ with one-time rehypothecation
Critics say a limited provision in new WGMR rules for dealers to rehypothecate client collateral is impractical and offers no benefit to clients
Non-US platforms shun US banks over Sef rules headache
Isda conference in New York hears some trading platforms outside the US are turning away US persons to avoid registering as a Sef
Looming Emir deadline prompts race to comply
Hundreds of corporates amend OTC documentation this week, ahead of September 15 portfolio reconciliation deadline – but market participants warn of "massive non-compliance"
Banks at risk of FVA arbitrage, say Hull and White
Academics who ignited fierce debate on funding valuation adjustment return with new paper