News
CFTC extends no-action relief for reporting of Asian counterparties
Masking of counterparty name extended to June 30, 2014
Power proves a tough choice for Australian regulators
Supervisors must decide whether to include electricity in derivatives reform despite high prices and industry opposition
Deutsche closes down 36 ETFs and ETCs to “tidy up” its product range
Products with €110 million of assets under management will be shut down as the bank has not seen sufficient client demand
UK government's threat to jail bankers may be empty
Too difficult to prosecute "reckless" bankers, lawyer warns
FTT would ‘drain financial resources’, GFXD research claims
The global FX division is upping its lobbying efforts to have forex derivatives carved out of the financial transaction tax with new research that shows the potential impact of the tax on transaction costs
Prudential Financial Sifi appeal ‘futile’
US insurers face re-designation if initial determination overturned
Trade finance at risk from financial crime, FCA warns
UK regulator says 'significant room for improvement' needed at most banks
FCA narrows AIF definition for SPVs
The UK regulator calms reclassification fears by exempting SPVs that issue debt securities from being classed as alternative investment funds
SEC needs to communicate better with whistleblowers, expert warns
Poor communication with whistleblowers could discourage people from coming forward, say legal experts
Trade rejections spark clearing document rethink
Industry group considers changes to the standard cleared derivatives execution agreement, following concerns that dealers have the unilateral right to terminate rejected cleared trades
No CVA exemptions in US Basel III rules
Europe isolated as US regulators opt for broad counterparty risk charge
Iosco calls for regulators to address counterparty risk on ETFs
Point and Counterpoint
Iosco letter to EC ‘strongly recommends’ PFMI standards for non-EU CCP recognition
International frameworks for CCPs should be the primary source of jurisdictional equivalence assessments, according to Iosco's Alder.
MAS benchmark proposals may reduce number of players in SGD market
MAS proposal on financial benchmark setting aims to hold banks more accountable by imposing criminal and civil punishment
Structural barrier to HFT participation in Asia OTC markets
Barriers include a lack of finalised rules and technology for scalable operations
Federal Reserve adopts Basel III for US banks
Fed Board unanimously votes to introduce new capital requirements as of January 1
Basel tries to create clearing pull with new capital rules
Dealers say rules for default fund exposures are an improvement, but risk weights are not tied to "real default probabilities"
Reinsurers question separation of systemic risk designations
Regulators will publish separate lists for systemically important insurers and reinsurers a year apart
CFTC cleans house at FCMs
CFTC has increased its scrutiny of futures brokers and their handling of customer funds since MF Global collapse
CFTC charges Corzine for MF Global collapse
Former chief executive charged alongside broking firm itself
Gillette leaves SEC after 27 years
Head of Chicago regional office set to join law firm
Dealers ask Esma to bless Lsoc-based clearing
Industry wants to know whether an approach based on US standards will meet European requirements
Securitisation is "dead in Europe", say critics of new EBA proposals
Rules would require banks to allocate all securitisation exposure by individual, underlying obligor
CFTC bows to agency desk concerns with further relief letter
In a time-limited relief letter issued last week, the CFTC recognises concerns expressed by agency firms over the implications of the external business conduct rules