News
Proposed derivative restrictions for Singapore insurers to have a limited impact
New MAS proposals to unify investment guidelines for all insurers, and in doing so limit derivatives usage, will not affect existing investment policies for insurance firms
Hedge fund AUM hits $2.6 trillion in 2012
Hedge funds finished 2012 in positive territory, according to eVestment. Despite reports of investor dissatisfaction, performance contributed with $116.3 billion increasing overall AUM in 2012.
Parliament may decide not to reject Esma standards
Doubt cast over whether a motion to reject two Esma regulatory technical standards will survive a plenary vote on Thursday
Effectiveness of new collateral forum questioned
Euroclear questions whether a new liquidity forum that brings together five central securities depositories will be anything other than a talking shop
Solvency II transitional measures come under fire
Concerns about costs and suitability of phase-in of capital charges
Commodity correlation returning to pre-2008 levels, say analysts
The tight link between commodities and equities is easing as firms become less worried about macro shocks, say analysts
Barclays announces departure of senior staff
The bank's finance director and general counsel are to leave
FSB comments on FX margin surprise industry
The FSB’s call for the Basel Committee and CPSS to set provisions on variation margin for FX derivatives appears to cross over with the Working Group on Margin Requirements, say observers
OTC derivatives trading for securities companies to take off in China
Pilot programmes by the CSRC to encourage OTC derivatives trading for securities companies in China
Yen threatened by Japan insurers unwinding dollar/yen hedging positions
While foreign hedge funds have been driving down the value of the yen, now Japan insurers may strengthen the trend
Solvency II capital tests not part of augmented Icas regime, FSA confirms
Insurers welcome Icas+, although uncertainty remains over future requirements
Cayman moves to tighten hedge fund corporate governance
The Cayman Islands Monetary Authority has begun a consultation on corporate governance of regulated hedge funds. The move should bring the financial centre closer in line with other jurisdictions.
First 'Smit' ETF launched as emerging markets equity inflows gather pace
Launch of Smit 40 Index ETF by Commerzbank coincides with surge in demand for emerging markets equity products
Hedge funds scramble to meet AIFM directive rules
While the UK has decided to delay implementation of the AIFM directive, managers need to consider the impact of the rules and decide how they will be able to market and distribute hedge funds in Europe.
Endowments question merits of hedge funds after negative returns in 2012
Hedge funds remain the single largest allocation for US university endowments but an extended period of lacklustre returns is leading some in the endowment community to question their value.
Esma dismisses Prospectus Directive criticism
Issuers say investors will not benefit from amendments to the EC's Prospectus Directive, but Esma maintains the new requirements serve a purpose
Bank analysts spooked by huge gulfs in Basel RWA review
Some banks calculating measures that are 3% of the median in Basel Committee study, while others are more than 2,500%
Solvency II delays limiting internal model growth, head of op risk warns
Reticence among certain insurers to quantify operational risk also to blame for lack of progress in model development
FSA mis-selling study finds rules broken in over 90% of swap sales
Pilot review finds almost no cases where UK banks behaved properly in selling interest rate hedges to small business
Sef rules could be finalised by mid-February, says O’Malia
Swap execution facility rules could be finalised in weeks, but CFTC commissioner gives little away on the detail
Danish and Latvian debt offices move to two-way CSAs
Cheaper swaps prices have convinced two more DMOs to sign collateral agreements
On the move
On the move
FSA should develop social media guidance, legal expert warns
US FFIEC, meanwhile, releases proposed guidance on social media
SEC names Hoecker inspector general
Carl Hoecker appointed permanent successor to David Kotz