News
Lack of regulatory clarity hampering PRA code of conduct
Price reporting agencies expect to release updated industry code of conduct shortly, but warn regulatory uncertainty could delay their efforts
Allianz leads German insurers in guarantees shake-up
Insurers developing new products to reduce exposure to low rates
Basel Committee secretary-general to head Australian regulator
Wayne Byres is set to become chairman of the Australian Prudential Regulation Authority when his term as secretary-general of the Basel Committee on Banking Supervision ends
Hedge fund managers challenged to provide investor solutions, not products
Hedge funds are under pressure to differentiate and explain their worth concludes a survey by SEI. Managers need to work with investors to find portfolio solutions rather than offer products
Commodity trader CF Partners launches first hedge fund
CF Partners, active in the commodities market since 2006, has launched a long/short equity hedge fund after hiring Alvaro Ventosa from Spanish fund manager Cygnus Asset Management
Energy firms struggle to meet Dodd-Frank reporting deadline
With Dodd-Frank reporting and record-keeping rules set to come into effect on April 10, energy companies worry they won’t be ready in time
Rolling spot faces inclusion in Dodd-Frank
Forex spot is expected to be exempt from US clearing and exchange trading rules, but rolling spot could be classified as a CFD and so be included within the scope of Dodd-Frank
People: JP Morgan creates regional CRO roles
Credit portfolio manager, Holderness, to be CRO for Europe; Lloyds lands Coutte to head rates; inflation market veteran Mirfendereski takes rates strategy role at HSBC; promotion for Miell at BGC Partners; Citi loses head of European OTC clearing
English court decision highlights difference with Cayman law
Derivative claims are a way for fund investors to sue a fund’s manager. A recent English court decision highlights the contrast between limited partnership derivative claims in England and in Cayman
Extensive reporting guidelines in Solvency II interim measures 'will challenge insurers'
Eiopa says measures will help supervisors and insurers prepare for Solvency II
Asia corporates unfairly ‘penalised’ by CVA capital charge
The move by European authorities to exempt European banks from holding CVA capital should be matched by regulators in Asia, according to senior bankers in the region
Bloomberg may set up futures exchange
Trading venue looks to hedge its bets if it fails to close the margin gap between OTC swaps and futures
UK banks face £25 billion capital shortfall
Banks told to achieve common equity Tier I capital ratio of 7% of RWA by end-2013
Insurers 'should be exempt from initial margining requirements' on ALM hedges
No economic need for initial margin on non-centrally cleared derivatives, argues Insurance Europe
Variable annuities do not pose a systemic risk - Geneva Association
Industry think-tank rejects product’s designation as a non-traditional, non-insurance activity
Apex offers low-cost option for hedge fund start-ups
Apex Fund Services is providing start-up hedge fund managers with a range of options to keep costs down, including free office space in several major cities around the globe. It will also offer advice
AIFM Directive: investment managers ‘must prepare now’
Preparations must be made before AIFM Directive implemented on July 22, 2013
'Half dead' EUA market hit by political uncertainty
Uncertainty over a plan to postpone sales of EUAs is contributing to stalling prices and reduced liquidity
FSA announces final plans for Libor reform
Administrator forced to manage conflicts of interest
CFTC ‘neglect’ of Sef rules angers platform providers
After missing numerous deadlines to finalise the criteria for Sefs, the CFTC will not publish the rules until late April at the earliest, much to the frustration of market participants
Reyker adds James Chu and looks to expand retail structured product offerings
Former managing director of Incapital Europe, James Chu, has joined bespoke financial service provider Reyker Securities to head its latest structured product distribution initiative
Cyprus bail-out does not stop long-term problems for euro
The eurozone faces mounting political and social tensions. Its latest policy moves on the Cyprus bailout are likely to exacerbate the situation as longer-term problems remain, concludes Saxo’s Hardy
Italian insurers question benefit of Solvency II long-term guarantees package
Matching adjustment and countercyclical premium inadequate for Italian insurers’ needs
Basel Committee seeks netting-friendly replacement for CEM
Consultation on alternative to much-criticised current exposure method could start in June